Degen
Crypto Overview
Overview
DEGEN is a memecoin launched on the Base network in 2024 by an anonymous team. The token aims to capture the 'degen' culture of crypto trading and speculation.
Purpose and Utility
The stated purpose of DEGEN is primarily as a community token and medium of exchange within the Base ecosystem. The token has no explicit utility beyond trading and potential governance rights.
Business Model and Development
The project operates primarily as a community-driven token with no clear business model beyond trading and speculation. There is limited development activity beyond the initial token launch.
Token Distribution
The token distribution appears to be relatively fair, with no significant pre-mine for founders. A large portion of tokens were airdropped to Base users who met certain criteria.
Real World Adoption
The token has gained significant trading volume on decentralized exchanges on Base, though actual utility beyond trading remains limited. No significant partnerships or applications have been announced.
Platform Analysis
DEGEN operates as an ERC-20 token on the Base network. The smart contract has been deployed and appears to function as intended for basic token transfers.
Crypto Impact
To assign a comfort level investing in Degen from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Degen.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.