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Degen Chain API Support 🎩

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Vicc Alexander

What is it?

Degen Chain is emerging as a pivotal player in the Ethereum ecosystem. Launched just recently at the end of March 2024, it has quickly distinguished itself with an impressive adoption rate. This swift uptake is largely attributed to the Degen token—Degen Chain's native currency—which gained traction through a strategic community airdrop targeting users on Farcaster.

As of April 19, Degen Chain achieved a remarkable milestone by recording the highest transaction per second (TPS) rate within the Ethereum network, peaking at 35.7 TPS. This is a 62% increase from the previous day, surpassing even Base, the Layer-2 blockchain it was developed upon, which registered 29.7 TPS according to L2BEAT. Furthermore, the chain currently holds $4.1 million in total value locked, and the DEGEN token itself has achieved a market capitalization of $326 million in just three months, as per CoinGecko data.

Beyond its impressive financial metrics, Degen Chain is an ultra-low-cost, application-specific Layer 3 blockchain. It was ingeniously crafted using Arbitrum Orbit and operates leveraging the settlement layer of Base, enhancing its compatibility and scalability within the Ethereum framework.

Why integrate it?

Integrating API support for Degen Chain into Moralis would not only capitalize on its burgeoning popularity and high-performance metrics but also empower developers to innovate and build on a platform that is setting new benchmarks for efficiency and scalability. This integration promises to open new avenues for development and adoption, ensuring that Moralis remains at the forefront of blockchain technology advancement.

Sources:
Website
Syndicate Blog
Cointelegraph Article
Matcha.xyz Article