# Learn about $DEGEN 🎩

*First ever meme token on Farcaster *

By [cryptsam](https://paragraph.com/@cryptsam) · 2024-02-01

degen, base, farcaster, warpcast, airdrop, decentralised

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Degen is an Erc20 token built on Base, focused on rewarding active [Farcaster](https://warpcast.com) users who contribute to its social network. Initially starting out as a meme token, $Degen was distributed as an airdrop to every active user on Farcaster that made a cast on the Degen channel.

Founded by Jacek, it's lead developer, Degen has grown to be a key component in the Farcaster social network, with its channel having over 7k members and a lot of them excited about it's recent growth and really happy to have benefited from their active participation.

Degen was initially launched at a $600k market cap and recently reached an ATH of over $30 million. Signaling a significant amount of interest and excitement from its community about its potential use case and future utilization. $Degen is currently on course to have integrated usecases within Farcaster and can currently be used to buy wraps; an onchain point reward system on the wrapcast platform.

![](https://storage.googleapis.com/papyrus_images/3e71eb2182d39f1d5093d0ad1e8185cb.jpg)

Degen's Airdrop 1 was marked by a significant % increase in its price, going as high as 2000% since distribution. This sparked a significant interest in its upcoming Airdrop 2, which is set to reward creators and contributors on Wrapcast by giving and receiving $Degen tips. Also having a liquidity mining program for users who provide liquidity for $Degen on Uniswap. Users receive points, which equate to an equivalent number of Degen tokens, and its final airdrop round—Airdrop 3—is set to come later.

$Degen, having just launched less than a month ago, has seen a significant spark of interest, gaining over a 2000% increase since launch price and onboarding lots of enthusiastic users to the Base and Farcaster ecosystems. Once again, proving there are no limits to the power of a United Crypto community.

Website: [Degen.tips](https://Degen.tips)

Wrapcast channel: [Degen community](https://warpcast.com/~/channel/degen)

Token: [DegenTokenBase](https://basescan.org/address/0x4ed4E862860beD51a9570b96d89aF5E1B0Efefed)

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*Originally published on [cryptsam](https://paragraph.com/@cryptsam/learn-about-degen)*