Degen Chain Outage
Degen Chain Outage
⚠️ Major Outage Hits Degen
Degen Chain, a blockchain network that powers the Degen ERC-20 token used for rewarding quality content on Farcaster, has been experiencing an outage for over 24 hours. The team at Conduit, the company behind Degen Chain, is currently working to resolve the issue after a custom configuration change was made on Friday.
Farcaster Announces Free Signups, Major Growth Expected
**Farcaster**, the decentralized social protocol, is set to introduce free signups in a significant platform update. This change marks a pivotal moment for the network's accessibility and growth potential. The $DEGEN token, which has been instrumental in Farcaster's development through its tipping and reward mechanisms, will likely see increased utility with this expansion. - Free signups remove entry barriers - Builds on existing $DEGEN tipping system - Expected to accelerate platform adoption *This update represents a strategic shift from Farcaster's previous paid signup model.*
Lightweight Farcaster Client Announcement
A new minimalist Farcaster client combining elements of 4chan and HackerNews is in development. The platform emphasizes simplicity with: - Thread bumping functionality - Built-in tipping system - Anonymous posting by default - Focus on text and image content only The client strips away common social features like profiles, direct messages, frames, and recasts. Launch is scheduled for FarCon. This development follows Farcaster's recent integration with Coinbase Wallet's social feed, marking significant mainstream expansion.
Advent of Degen - Day 18 Highlights
**@kaspotz**, creator of @poidhxyz, receives community recognition for building one of Degen chain's most engaging platforms. The platform enables users to: - Post bounties - Verify completion with photos - Earn rewards **Bridge Updates:** - bridge.degen.tips preparing to implement Stargate routes - Currently users can bridge directly via Stargate - Trading available on @CamelotDEX after bridging *Notable Achievement:* @poidhxyz recently celebrated 2,000 DEGEN bounties milestone.
DEGEN Implements Anti-Farming Measures and Plans Vault Upgrade
DEGEN is cracking down on tip-for-tip farming: - Users caught trading tips excessively will lose their allowance - Daily tip allowances total 5M DEGEN ($1.2M/month at current prices) - Planned vault upgrade: longer locks = larger share of tip pool DEGEN aims to discourage low-tier farmers and maintain system integrity. Users are advised to consider these changes when locking DEGEN. **Reminder:** To receive tip allowances, extend your lock or re-lock withdrawable LDEGEN.
Vitalik Buterin Uses $DEGEN for Charitable Causes
Vitalik Buterin, co-founder of Ethereum, has utilized $DEGEN tokens to support important causes. This move highlights the potential of cryptocurrencies to make positive impacts beyond financial transactions. Key points: - Buterin still holds 7.5M $DEGEN tokens - The use of $DEGEN for charitable purposes aligns with the token's community-centric ethos - This action demonstrates how Ethereum enables the creation of unique communities and economies The $DEGEN community expresses respect and appreciation for Buterin's actions, emphasizing the importance of using blockchain technology for social good.