Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 minutes to learn more

Degen Chain (DEGEN) Price

DEGEN

Buy

Please note: like most trading venues, we display the current mid-market rates in our price charts. When you trade, you get the current bid or ask price depending on whether you are buying or selling. There is always a slight difference between the mid-market and the current bid or ask prices. This is a natural result of how Exchange order books work.

Digital currencies are very high risk. Do not invest money you can’t afford to lose. Please consider the suitability of crypto for your individual position before trading.

DEGEN Describes Itself As

DEGEN initially launched as a meme coin in January 2024, an ERC-20 token used primarily within the Farcaster Degen channel to reward active participants. Recently, DEGEN has expanded its utility and launched the DEGEN Chain, an Arbitrum Orbit chain that settles on Base and utilizes AnyTrust for data availability, with DEGEN as its native gas token.

Project Utility/Function

DEGEN’s journey from a meme coin to a community token illustrates its growing influence and utility. Initially, DEGEN served as a reward mechanism, airdropping 15% of its total supply to active members of the Farcaster Degen channel. The project plans to airdrop a total of 70% of the token's supply, reinforcing its community-centric approach.

The launch of DEGEN Chain aims to further integrate DEGEN into the Base ecosystem, providing a platform for developers to build applications using DEGEN as the native token. This transition marks a significant shift, positioning DEGEN as a foundational element for decentralized applications within the memecoin community.

Token/Token Utility

The tokenomics of DEGEN draw comparisons to Blur (BLUR) and Uniswap (UNI) tokens. Users earn DEGEN tokens by engaging in the community, receiving likes, comments, or holding specific NFTs. One point in the system equals one DEGEN token, which are distributed through airdrops, incentivizing active participation and content creation.

About the Founders

Jacek Trociński is the creator behind DEGEN Chain. Trociński's vision was to create a token with robust utility and a supportive community foundation, similar to successful tokens like BLUR and UNI. 

Risks of DEGEN

Like an investment in other crypto assets, there are some general risks to investing in DEGEN. These include:  (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to the Risks Specific to Holding Digital Assets statement.

In addition to these general risks, an investment in DEGEN is subject to the following specific risks:

  • Any potential success associated with DEGEN is reliant on the extent to which the Degen Chain is adopted, as well as the growth of its decentralized community, and their continued trading and enthusiasm for the asset. These factors are difficult to predict, and could result in very high volatility.

We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with DEGEN. Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.

The DEGEN community is not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of DEGEN have no recourse to the DEGEN community or Uphold if DEGEN declines in value for any reason.

Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.

Uphold’s Evaluation Process

Prior to listing DEGEN on the Uphold Platform, Uphold performed due diligence on DEGEN and determined that DEGEN is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following: 

  • The creation, governance, usage, and design of DEGEN, including ensuring the source code is open-source, audited and peer reviewed, security, and roadmap for growth in the developer community. 
  • The supply, demand, maturity, utility, and liquidity of DEGEN.
  • Any marketing materials put forward by the DEGEN social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
  • Material technical risks associated with DEGEN, including any code defects, security breaches and other threats concerning DEGEN and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.
  • Legal and regulatory risks associated with DEGEN, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of DEGEN.

How to buy Degen Chain (DEGEN)

With Uphold, you can buy digital currencies in just 11 clicks - even if you don’t have an account yet. 

Nothing could be easier.

Here’s how fast it is to get started:

1. Go to Uphold.com and click sign up.

2. Enter your email address and personal details. 

3. Click the link we send you and create a password

… and you’re off to the races!

Just start trading.

Get more coin for your coin

0% withdrawal fees

Low spreads

Learn more


Uphold Europe Limited, Reg No. 09281410, Registered Office: Eastcastle House, 27/28 Eastcastle Street, London, United Kingdom, W1W 8DH

Uphold (FRN: 938277) is registered with the Financial Conduct Authority (FCA) for AML purposes and complies with the Money Laundering, Terrorist Financing and Transfer for Funds (Information on the Payer).

Uphold is also an EMD agent (FRN: 938277) of Optimus Cards UK Limited (FRN: 902034) which is authorised and regulated by the Financial Conduct Authority to issue e-money pursuant to the Electronic Money Regulations 2011.

The purchase, sale and custody of cryptoassets are regulated by the FCA for anti-money laundering purposes but this does not indicate any approval by the FCA of Uphold's cryptoasset activities. Cryptoassets are very high risk and speculative. When purchasing, selling and/or holding cryptoassets, you will not have access to the Financial Ombudsman Service (FOS) or the Financial Services Compensation Scheme (FSCS) if something goes wrong. You should be aware and prepared to potentially lose some or all of your money. You should carefully consider whether trading or holding cryptoassets is suitable for you in light of your financial circumstances.

Fiat money payments and balances (fiat is another name for traditional currencies, such as GBP, USD and EUR) constitute regulated e-money and payment services. In providing fiat balances, you are being issued with e-money by Optimus and Uphold is acting as its agent. See specific e-money terms. E-money is not a deposit or investment account which means that your e-money will not be protected by the FSCS. Your funds will be held in a designated safeguarding account with a regulated financial institution. E-money will not earn any interest.

Uphold is certified for SOC 2 Type 2, ISO 27001, and PCI DSS, ensuring rigorous control over our information security management systems, data handling, and payment processing practices. Furthermore, we comply with the General Data Protection Regulation (GDPR), California Consumer Privacy Act (CCPA), and the UK Data Protection Act, underscoring our dedication to protecting the personal data and privacy rights of our global customers.

© 2024 Uphold Europe Limited. All rights reserved.