The meme craze in the Base ecosystem has spread to Zora and Degen Chain

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Last weekend, as the Base ecology continued to be popular, the hype of "meme hot money" gradually penetrated into the "Coinbase system" ecology such as Zora and Degen. On the popular Base-based social platform Warpcast, the meme tokens of Zora and Degen Chain have become so popular.

On March 28, according to official news, Base ecological Meme project Degen announced the launch of the low-cost Layer 3 blockchain Degen Chain. The network is built using Arbitrum Orbit and AnyTrust DA, and the settlement layer is Base. The native Gas token of Degen Chain is DEGEN. Syndicate becomes Degen Chain’s Layer 3 infrastructure partner. As soon as the news came out, DEGEN rose by 37% in 24 hours and is now quoted at 0.02035, once again hitting a record high.

In the following days, DEGEN soared all the way. On April 1, DEGEN briefly exceeded $0.06, achieving another 3-fold increase from a week ago. What followed was a wave of hype for the Degen Chain ecology. Over the weekend, Degen Chain ecological tokens generally rose. Among them, the Degen ecological DEX platform DegenSwap token DSWAP increased by 465% in 24 hours, the Meme token DINU increased by 194% in 24 hours, and PURP increased by 67% in 6 hours. According to Dexscreener data, Degen Chain has achieved a daily trading volume of over 80 million US dollars in less than a week since its launch, with the number of transactions reaching 270,000 in 24 hours.

What also attracted attention was the Zora Ecosystem, whose ecological meme coins also saw general gains over the weekend. Projects such as Imagine and ENJOY all had intraday increases of no less than 3 times.

IMAGINE is the first permissionless collector token on Zora, designed to support and encourage art collectors and creators within the Zora ecosystem with financial incentives. ENJOY is the first meme token on Zora. It was airdropped from the community to eligible community users in early March. The conditions for receiving the first season airdrop are the top 500 active Zora creators and about 10,000 active Zora collectors. Of course, distinguished Warpcast OG NFT holders are also on the airdrop list.

In addition to these two projects, a meme token called HIGHER is also very eye-catching. This project started as a community channel on Warpcast and aims to make more contributions to Zora and the artists within its ecosystem. After completing the fundraising and airdropping HIGHER tokens to channel members, core members of the community created a Party Wallet for them and raised US$70,000 for initial LP.

According to official documents , the uses of HIGHER tokens include: obtaining Dao membership, opportunities to hype HIGHER IP, and potential incentive opportunities within the future ecosystem. Holding 1 HIGHER token can become a member of Higher, and the HIGHER community is decentralized autonomous organization. So far, the HIGHER token has achieved a 10-fold increase in the past week.

In fact, in the past few months, the Zora ecosystem has been quietly changing, gradually changing from a "ZORA ball Mint chain" to a "literary hype chain". This has become more obvious after the Base ecological meme craze started.

On December 16 last year, Worldcoin announced the launch of collectibles based on the NFT infrastructure platform Zora to commemorate and celebrate the launch of World ID 2.0. Users can mint this collectible for free on Zora until January 12th. This seems to be another ordinary "ZORA ball" Mint, but since then, Zora ecological active addresses have begun to increase.

In early February this year, the Uniswap community voted to pass the temperature check voting proposal of "deploying Uniswap V3 on the Ethereum L2 network Zora Network". The arrival of Uniswap has greatly enhanced the "financial attributes" of the Zora ecosystem. By the beginning of April, according to Dune data, the number of Zora mainnet addresses has reached 470,594, and the number of bridged ETH has reached 6824. The number of network transactions has also continued to rise, with a total of nearly 29 million transactions processed so far.

Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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