If you have played on the Base chain recently, then you must know that the most popular Token on it is called Degen, and its market value today exceeded US$1.5 billion. After the launch of the Degen channel on Farcaster in January 2024, users will be allowed to use Degen to reward high-quality content creators. As of now, there are more than 83,000 holders and it is still growing rapidly. So how did Degen grow into a $1 billion “golden dog”?