# L3

Degen, an ERC-20 token launched in January 2024, has reshaped the Farcaster ecosystem by enabling Casters to reward others with DEGEN for posting quality content. Their points system recognizes unique posts and comments, effectively bridging the gap between online contributions and real-world value. While Degen Chain is not the first Layer 3 scaling solution, it is a first of its kind — a layer dedicated to DEGEN and the associated meme coin ecosystem. The major features of the Degen Chain include: Low-cost Transactions: The transaction cost on the Degen Chain is low compared to that of other layer-2 blockchain transactions. Community Centric: The Community is the backbone of the Degen Chain ecosystem, and its utmost priority is to address the requirements of its community members. Native Token DEGEN: The DEGEN token energizes Degen Chain based activities and incentivizes the community.

Empowering social connections with fun experiences built on decentralized systems. Ham has integrated direct decentralized, peer to peer payments into Warpcast, the decentralized social media app, in a fun and novel way using Floaties. Culture and technology have aligned so that microtransactions actually make sense blockchain enables us to do it in a trustless and decentralized way.