Project Overview:
Degen (DEGEN) has been listed on HotsCoin on March 29. Degen (DEGEN) is an unofficial token on the Farcaster decentralized social network. As an ERC-20 based token, it aims to reinvent the Farcaster ecosystem and promote community development by rewarding Casters for publishing high-quality content. DEGEN is currently open for trading on HotsCoin.
Token Economics:
Degen’s total supply is approximately 37 billion tokens, of which approximately 70% is for community use, 15% is used to form liquidity pools, and the remaining 15% supports the team, investors, and the broader ecosystem. Additionally, starting in 2028, inflation is expected to reach 1%.
Reward program:
The Degen project has launched a series of reward programs to incentivize community members to participate:
Meme Bounty: Community members can create Degen memes on Farcaster and participate in meme bounty competitions. The winner will receive 100K $DEGEN, while the runner-up will receive 25K $DEGEN.
Framework Bounty: Community members are invited to create Degen frameworks on Farcaster and have a chance to win a first-place prize of $1.5 million in DEGEN. Additionally, a partnership with $FRAME has added additional rewards for winners.
Logo Bounty: Design a new $DEGEN token logo and get a chance to win $5 million in DEGEN for the winner and $1 million for the runner-up.
Future outlook:
The Degen Project’s rewards program provides community members with rich opportunities to participate and attracts broad community engagement. As more community members join and the project develops, the Degen token is expected to play a greater role in the Farcaster social network and inject new vitality into the development of the entire ecosystem.
Summarize:
The Degen (DEGEN) project brings new vitality to the Farcaster ecosystem through its innovative rewards program and community engagement mechanism. As the community continues to grow and the project develops, the Degen token is expected to play an important role in the field of decentralized social networks and provide users with more value and reward opportunities.
No comments yet