Eesee (ESE) offers a gamified NFT marketplace with a lottery system, allowing buyers to purchase assets at a fraction of their market price while sellers can fetch higher prices than other platforms.

How can a marketplace solve the millennia-old dilemma of sellers trying to get the maximum price for their products and buyers wanting to pay as little as possible? That's an impossibility, you might argue, and you'd be correct most of the time. However, one NFT marketplace, eesee (ESE), has managed to do just that. 

The eesee project offers a gamified crypto assets marketplace where NFT sellers can create "raffle drops" — lottery-like product listings — and potential buyers can purchase tickets for a chance to win the listed 

, paying only a fraction of the item's actual market price. Market sellers benefit, too, as NFT creators and traders can often sell their assets for a much higher price than their items would fetch on other marketplaces.

 (ESE) is a gamified digital asset marketplace that uses a lottery system to help sellers sell quickly and get higher prices for their assets, while allowing buyers to purchase assets for fractions of their real market prices. 

As of mid-April 2024, eesee specializes in digital asset trading for NFTs. In the future, the project team plans to introduce other digital assets, such as fungible cryptocurrencies and real-world assets (

). NFTs listed on the platform span genres as diverse as art, gaming, music and sports.

Eesee was founded in 2022 by technology entrepreneur Vova Sadkov and is based in Dubai, UAE. It operates as a decentralized app (

 (ETH) and the Ethereum-linked Layer 2 network 

Sellers on the eesee platform create lots to sell their digital items via a gamified lottery system. Buyers willing to enter the raffle for the NFT buy tickets for a chance to win the item. Typically, the ticket cost represents only a fraction of the NFT's actual market value. The ticket's marginal cost attracts more buyers to join the raffle, thereby allowing sellers to sell their NFTs quicker, and at prices they'd be unlikely to get elsewhere.

The hopeful buyers who lose during the lottery are still entitled to a share of the trading volume from the platform's operations. Once the users reach a specific trading volume, bonuses are unlocked that include ESE tokens and other digital assets.

NFT sellers can either bring in their assets held outside of the eesee platform or mint new ones specifically for listing on the marketplace. For any lot/NFT lottery, the seller can assign their preferred fixed price and the number of tickets by which to divide the listing price. Anyone willing to enter the lottery buys a ticket for a chance to win the item.

Each ticket has an equal probability of winning. The eesee marketplace uses a transparent randomizer system to decide each lottery winner. Eesee's randomizer is sourced via 

 (LINK), the industry's leading oracle services provider. Chainlink is a popular and trusted choice for many crypto projects looking to maintain the highest level of transparency in their operations.

To further maintain the fairness of the lottery system, no potential buyer is allowed to purchase more than 20% of the tickets allocated to the lot.

When the item is sold, eesee retains 6% of the sale amount as a commission to fund its reward pool for monthly cashbacks. The pool is a crucial element of the platform's operations, used to distribute trading volume allocations and rewards to all of the platform’s users, including buyers who miss out on the chance to win in the lotteries. A user's platform activity is the primary determinant of the amounts they can earn from the pool: the more lifetime activity they accumulate, the more monthly cashback they’ll earn.

ESE is the platform's native crypto, envisioned to have both governance and utility functions. Members of the platform's 

 (i.e., users eligible for trading volume distributions from the rewards pool) can vote on important aspects of eesee's operations and protocol rules. In order to be eligible for voting, a DAO member needs to hold at least 10,000 ESE in their wallet.

As a utility token, ESE is used for all transactions on the platform — item sales, ticket purchases, trading volume allocations from the rewards pool, commission payments and any other transaction activity.

ESE was launched on Apr 12, 2024. The token's maximum supply is 1 billion, and its total supply is around 427 million. Supply allocation shares for the ESE token are per the table below.

 on Bybit's Spot market. In addition, until Apr 24, 2024, you can take part in Bybit's 

 for a chance to win a share of the 100,000 USDT price pool.

As of Apr 15, 2024, ESE is in its fourth day on the market, trading at $0.1218. Long-term price forecasts for the newly launched token are largely bullish. PricePrediction 

 $0.2686 in 2025 and $1.43 in 2030, while DigitalCoinPrice 

Eesee presents a unique marketplace. Not often do you encounter an NFT platform on which both sellers and buyers can benefit considerably from a rare win-win scenario. Naturally, there’s the issue of those who lose out during the lotteries. Nevertheless, even these users can recoup some or even all of their losses, thanks to the trading volume reward distributions. 

The more often you participate on the platform, the higher the distributions to which you’ll be entitled. Additionally, more active participation spells a higher chance of winning at least some of the items you'd like to add to your personal NFT collection. The more we think of eesee and its gamified system, the fewer losers in the process we can spot!

Beginner

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Eesee (ESE): Gamified Marketplace for Affordable High-Value Assets

Apeiron (APRS) pioneers a god game experience in blockchain gaming, offering moral choices and diverse gameplay modes within its tri-token ecosystem.

The gaming world is highly versatile, with many genres to choose from, such as shooter games, adventure, simulation, puzzles, survival, action and many others. However, one genre that hasn't been explored widely in the crypto space is the “god games” genre, in which players take the role of a god.

 have dominated the traditional gaming space for over thirty years. 

 gaming space, and will be the first god game based on blockchain where players can make moral choices between good and evil in thegodiverse, a virtual gaming world for god games. 

 is the first web3 god game built on blockchain in which players get a chance to become a 

 and play god with the divine power to create/destroy in the godiverse.

This free-to-play game was conceptualized in 2016 by a team of gaming veterans, and successfully fundraised $13 million in its seed round in 2022. As an 

 gives crypto gamers the chance to summon an 

 and use it to maneuver through a chaotic dungeon experience in the game.

 blockchain to leverage its fast and cheap ecosystem, eliminating the entry barriers caused by high gas fees. However, in Q3 2023, the game migrated to Ronin, a 

 blockchain explicitly designed for gaming. 

 has also chosen the Unity game engine as its front-end gaming development partner. Unity’s blockchain-compatible gaming stack gives crypto game developers a competitive advantage over other gaming platforms, such as Unreal Engine.

 combines centralized servers with the decentralized aspect of blockchain to enhance the gaming experience. The centralized servers mainly handle game logic aspects, such as PvP matching and event-hosting on Galactic Arena, while the decentralized blockchain powers the NFT aspect of the game, such as minting NFT assets and token rewards. 

has a triple-token ecosystem consisting of Apeiros (APR), Anima (ANIMA) and Ringularity (RNGU) tokens. 

are known as godlings, living in mysterious parts of the planet called EDENs. A godling is embodied by a Spirit Core that controls an Avatar, which manifests various planetary powers.

The planetary powers wielded by the Avatar are represented by four planet elements: Water, Earth, Air and Fire. The most common and weakest planetary type is the Quad Planet, a combination of all elements, while Pure Planets contain only one element, and are the rarest and strongest type.

A godling is ushered into the game as a newborn divine entity who takes control of a planet filled with subjects called the Doods, cute and cuddly tiny creatures that worship the godling for provision and a better life.

A godling can be a force for good, helping the Doods by enhancing their quality of life and advancing their civilization, and in turn receiving worship from them.

Alternatively, the godling player can decide to be a force for evil and terrorize the Doods with elemental disasters, such as fireballs, receiving worship through fear. A healthy population of Doods is beneficial to the growth of the planet and the Avatar powers.

A godling can use their Avatar to take part as a fighter against the forces of Chaos in the Dirac Dimension. Here, the Avatars can explore dungeons and collect Apostles, Doods found in dungeons that are inspired to join the Avatar in its battles. These Apostles accompany the Avatar into battles of god vs. god that occur in the Galactic Arena.

As a godling, you can perform Miracles in response to your Doods' prayers, offering blessings, punishments or even large-scale Planetary Miracles. Depending upon the types of Miracles you cast, your planet alignment will shift between good and evil.

Under the god simulation, you can also breed planets to create a third planet if you have more than two planets. This process is called Celestial Conjunction. The goal of planetary breeding is to produce a Pure Planet with one element, such as Fire. Such planets give special powers to the Avatar.

If you feel that the development of your planet is unsatisfactory at the height of its civilization, you can trigger an Armageddon event to destroy the planet, thereby ushering it into a superior planetary cycle by starting over.

Some of the benefits a godling can collect from triggering an Armageddon event include Soul Gems, in-game ANIMA tokens for the new cycle, gaining a more impressive planet and deeper access into the Dirac Dimension’s dungeons.

PvE game mode occurs in the endless Dirac Dungeons Dimension. It allows players to fight and recruit or rescue Dood Apostles, who can either be used as sidekicks in galactic battles or converted into Relic NFTs. You earn Apostles and ANIMA by completing dungeon exploration with layouts that change every time you enter.

PvP battle mode occurs in the Galactic Arena, where players fight each other in galactic tournaments for the first position in the monthly leadership position and earn in-game tokens (ANIMA and APRS).

Players work together to progress the living story of the Apeiron godiverse galaxies. The guild vs. guild alliance features Avatar and Raid Boss battles that unlock new content on a seasonal basis.

 features four core NFT assets: Planet NFTs, Stars, Apostles and Relics.

Planet NFTs are essential and valuable assets that enable players to create customized gaming experiences, and possess two aspects: the planet itself and the Avatar. Different planets have different elemental distributions of Earth, Air, Fire and Water that determine the superiority of the skills the Avatar will possess. Pure planets make more superior Avatars in terms of skills, while Primeval Planets are generated through presale. Having a Primeval Planet gives you various perks, such as cheaper planet breeding and early access to the latest game builds.

Star NFTs help accelerate the aging of your planet. The older a planet gets, the more powerful it becomes, as older planets contain more Relic slots. Each star NFT contains a number of Orbital Tracks that serve as homes for the aging planets. Owners of Star NFTs can either use Orbital Tracks to hold their own planets or rent extra space to other planet owners. Star NFTs are suitable for more competitive and committed players, allowing them to take part in Alliance and Guild game modes.

There are 12 heroic Apostle classes, including Hunters, Warriors and Priests, that play sidekick to the Avatar during the PvE, PvP and Guild vs. Alliance game modes.

While exploring a dungeon, players can easily find the Dood Apostles in the in-battle treasure chests or shops. Each Apostle possesses three skills and individual values (IV) representing its battle stats.

Godlings can convert their Apostles obtained in the dungeons into Relic NFTs using the APRS governance token, allowing them to trade the NFT on the marketplace or use it in another planetary cycle after an Armageddon event.

Relic NFTs are obtained after the Armageddon event, which resets the planet in a much purer state. Once the event is over, the player can convert all gameplay objects from the previous cycle that would otherwise be lost permanently between cycles. Objects include Apostles, equipment, cosmetics and even rare Planetary Wonders.

Converting these objects into Relic NFTs is done via APRS tokens. Once that’s done, the player can insert the Relic NFTs into the renewed planet’s Relic slot, which gives players a great head start on the new planetary cycle. Alternatively, players can sell their Relic NFTs to other players on the Apeiron NFT marketplace.

There are two unique aspects of Apeiron's tokenomics. First, its game economy is powered by three tokens. Secondly, its two core tokens, Apeiros and Anima, have in-game versions.

. It allows players to stake, take part in governance through a 

 (DAO) and earn a yield of up to 150% APR. Its in-game currency version is Aperium. Additionally, participation in DAO governance is optional. New players can join the ongoing 

 on Bybit and become one of the lucky winners in this large free APRS giveaway.

:Anima (ANIMA) is a play-to-earn incentive token with various utilities, such as a revival chance in the dungeon. Its in-game version, Animus, is non-tradeable but can be used as a discount currency for ANIMA to reward players in all aspects of gameplay.

: A unique multiplayer token that allows players to access exclusive sales for limited in-game items on the Apeiron marketplace.

s status as the first god game on blockchain puts the team in a pioneering position to establish

 as the standard of excellence for the godiverse blockchain gaming industry in the future. The intriguing gameplay storyline, the team’s dedication, investor trust, and the fact that 

draws inspiration from a list of similar successful gaming enterprises in the industry are likely to positively influence its chances for success.

Additionally, the team is keen on adding value to players' gaming experience, such as through interoperability in the larger metaverse, asset ownership and enhanced gameplay environment.

also aims to integrate AI into its gameplay mechanics and production in order to capitalize on recent advancements in AI technology, which are expected to disrupt various industries, including web3 and NFT games.

The power of AI will bring an enhanced level of interaction to Doods and Apostles for both in-game and on-chain functionality. In addition, the 

 team will train their own AI models to utilize their intellectual property assets to create artwork for gameplay and enable crossover assets for an interoperable metaverse environment.

 constantly strives for improvement with each season release. There are three seasons available so far, andthe entire game is scheduled to go live in 2024. 

Season 1 of the game was its debut as a minimally viable product, providing an early preview of what to expect from 

's PvE game mode in the future. Season 2 of

, featured an expanded Battle Demo of the PvE. This season also allowed players to mint their own Apostle NFTs.

’s transition from demo to beta mode. It enables players to enjoy the PvE dungeon exploration, customize their godling adventures, try out new PvP Galactic Arenas and join Alliances. It also marked the start of players being able to mint their own Planet NFTs.

That said, this isn't financial advice, and we highly recommend that you 

 is boldly paving the way for a new era of futuristic gaming with blockchain and artificial intelligence. Its tri-token system creates a dynamic ecosystem that encourages players to actively participate in governance, gameplay and community collaboration, while offering incentives and rewards tailored to each aspect of the game.

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Apeiron (APRS): A God Game to Dominate Boundless Realms

Catcoin (CAT) is a feline-themed meme coin combining community passion with real utility in the crypto space through decentralized governance, NFTs, games, and staking yields.

 have been around the crypto space since 2013, when the earliest meme coin, 

 (DOGE), was created as a lighthearted joke to poke fun at the Bitcoin community at the time. Soon after, more meme coins, such as 

 (FLOKI), cropped up and shot up the ranks by raking in millions of dollars in trading volume.

All of the three blue-chip meme coins mentioned above are themed after a Japanese dog breed. They’ve expanded their use cases from their original fun and speculative narratives to include real utility in their ecosystems. While dogs have continued to be a popular theme for meme coins, other animal-themed meme coins, such as frogs (

So what about cats, so beloved by so many?

Well, cat lovers can now join the meme coin craze via Catcoin, created for feline lovers looking for a meme coin with a dedicated community and built-in real utility.

 (CATS) is a three-fold feline-themed utility meme coin purely driven by its strong community of followers, known as the Catcoin Army.

 Its core values are community empowerment, innovative utility and compassionate giving.

Although categorized as a meme coin, this cat-themed token endeavors to provide a highly functional and secure platform for DeFi services, such as hybrid 

The Catcoin Army consists of a new evolution of dedicated, compassionate and charitable members who aim to make Catcoin Crypto globally successful and to create an enjoyable cat-themed meme coin experience for its supporters.

Unlike many crypto projects today, Catcoin has no presale, team tokens or marketing allocations. However, CATS holders contribute a percentage of their CATS to the marketing budget when buying and selling.

The native token of Catcoin, CATS, has 26,033 total holders, with a maximum supply of 1 quadrillion tokens, a circulating supply of 971.55 trillion and a market cap of $1.28 million.

The project implements a 2% CATS tax on buying and a 10% tax on selling. These taxes are reserved for the project’s aggressive marketing campaigns. Out of the 10% selling tax, 3% goes to reflections and 7% goes to marketing.

Catcoln also implements a token burn mechanism that continuously removes tokens from circulation and, consequently, boosts the value of CATS.

Catcoin was first launched on BNB Smart Chain (BSC) in November 2021 by a group of unknown developers who identify as Miaoshi Nekomoto. The name represents an assumed, fictitious cat belonging to Bitcoin’s undoxxed founder, 

Catcoin quickly rose to fame and became a hot topic of discussion in early 2022 during a bullish cycle in the crypto market. The project now runs on two blockchains, BSC and 

, V1, lacked a marketing wallet and had a meager liquidity ratio, which made it vulnerable to manipulation by 

. Despite these flaws, the project still managed to attract a considerable following, whose members volunteered in different capacities to push the project forward.

Nevertheless, Catcoin V1's poor tokenomics and gaping vulnerabilities made it difficult for the project to advance. Consequently, a core team of developers, graphic designers and marketing experts worked together to upgrade V1 to V2. 

Unlike the original team, the new core team is fully transparent. Through a snapshot and 

, the team successfully migrated the community to its new smart contract in April 2022. Top smart contract security auditors CertiK and SolidProof verified V2 as among the most secure crypto smart contracts around.

The launch of V2 solved several problems in the initial V1 smart contract, as the platform now features a marketing wallet allocation and a higher liquidity pool-to-market ratio. In addition, V1’s reflections mechanism executed well and has been implemented in V2.

Despite its failures, the first Catcoin launch successfully rallied a strong community behind the project, facilitating the upgrade and launch of V2. Some of the milestones accomplished by Catcoin in its V2 era include the following:

Similar to meme coins such as Shiba Inu and Dogecoin that have expanded their ecosystems to include more use cases, Catcoin features the following key products:

As of Apr 12, 2024, the price of CATS was $0.000000001516, which was a 630.5% increase from its ATL of $0.0000000002076 on Feb 14, 2022, and a 97.8% drop from its ATH of $0.00000006832 on Feb 24, 2022.

Price prediction experts are slightly bullish on the price of Catcoin. According to CoinCodex, CATS 

 $0.000000007412 in 2025 and drop to $0.000000006687 by 2030. Another price prediction platform, DigitalCoinPrice, 

 CATS will trade at $0.00000000379 by 2025 and grow to $0.0000000112 by 2030.

That said, these price predictions don't guarantee future CATS prices. We highly recommend that you 

 before investing in Catcoin or any other 

, which enables users to swap tokens seamlessly across multiple chains. Here’s a step-by-step guide on how to buy Catcoin on 

Catcoin envisions a future as the Dogecoin of feline-themed meme coins. Additionally, Catcoin’s goal is even broader, aiming to reshape the future of 

 for CATs indicate that Catcoin is potentially a good investment. Crypto influencers such as Amiri King have publicly expressed their enthusiasm for Catcoin. Such support gives the project more exposure and popularity, and testifies to its community’s engagement efforts. With a strong core team and community, a great vision and a proven ability to deliver, Catcoin already looks like a possible success story.

Soon, Catcoin will launch games on its platform and introduce a crypto debit card and mobile app. The team is also open to the careful consideration of bridging to other chains, such as 

However, there are several other factors to consider, as meme coins are prone to fading away once the initial hype is over. Therefore, before investing in a meme coin, it’s important to keep in mind that they’re highly speculative assets, more prone to volatility than 

Catcoin has reached some substantial milestones, cementing its place in the ever-evolving world of cryptocurrencies, especially meme coins. Its army of volunteers takes pride in having salvaged its flawed initial version (V1) into an improved decentralized V2 that will deliver on its vision for DeFi.

Catcoin’s core team is committed to blazing a trail for its feline-themed meme coin by bringing tangible value to its community. The project’s future success will hinge on effective marketing to attract new users, and winning back those who left after the shortcomings of V1.

Intermediate

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Catcoin (CATS): Riding the Meme Coin Wave With Community Passion

Degen (DEGEN) is the community currency of the decentralized social network Farcaster, rewarding users for engaging content and driving the new Degen Chain for decentralized apps and transactions.

For a long time, the social media niche of the crypto industry lagged behind areas such as gaming and 

 (DeFi) in terms of growth and adoption by users. That all started to change last year, in 2023, when a host of innovative SocialFi projects, such as 

, appeared on the horizon. Since early 2024, another key 

 social media platform — Farcaster — has experienced rapid growth, quickly changing the dynamics of competition in the field.

The Farcaster social media protocol has become home to several "channels" and apps, with active community engagement. Farcaster's flagship app, 

, is a gateway that’s used for accessing an ecosystem whose users can broadcast digital content and communicate à la X (formerly Twitter). 

By now, there are thousands of channels within the ecosystem, of which Degen is the most popular. Degen is a unique Farcaster community product that’s launched its own crypto token, DEGEN — which, interestingly, has functions well beyond memes and lighthearted fun. In addition to being a typical social media 

, DEGEN is also used to reward active user engagement on Farcaster. Various apps have also integrated the token for functions such as trading fee payments, and the allocation of grants to digital content creators.

 protocol, a decentralized social media platform that uses an X-like format. 

Degen allows Farcaster users to "tip" other users for posting engaging content. Users who receive tips from other Farcaster community members are awarded points according to the level of engagement their publication generates. Based on the points accumulated, eligible users receive DEGEN tokens via 

The tokens will be distributed to users via three airdrops, with Airdrop 2 currently underway. To qualify for the current airdrop, a user must have held at least 10,000 DEGEN in a Farcaster-connected wallet for at least 48 hours and have made at least three casts (digital content postings). Eligible users receive a daily tip allowance in Degen points to tip other Farcaster users.

Degen is currently the most popular channel within the Farcaster ecosystem by total number of casts, as well as one of the top channels by reaction-to-cast ratio.

The DEGEN crypto was launched by Farcaster's Degen channel in January 2024 as a community token to reward active participation and quality content postings. Thanks to its innovative concept, it immediately livened up the channel and the entire Farcaster ecosystem. 

Prior to the token's launch, Degen was a relatively minor social community, with little to separate it from the thousands of small channels on Farcaster. As DEGEN's popularity has surged since January, several applications have decided to use it as their native token for functions that go beyond simple social media tipping. For example, short video social app Drakula has adopted DEGEN to facilitate the payment of trading fees and award community grants to creators.

In late March 2024, the project launched its own Layer 3 Degen chain to accommodate 

 (DApps) focused on social interaction, as well as areas beyond it. DEGEN is the chain's native cryptocurrency, used for paying gas fees, similar to 

The DEGEN token was launched with a total supply of just under 37 billion. This supply will stay fixed until 2028, with a 1% built-in inflation rate thereafter. Of this token supply, 60% is allocated for distribution via three airdrops. The first airdrop has been finalized, while Airdrop 2 is ongoing until the end of April 2024. Precise details for the third airdrop have yet to be announced.

Besides the airdrops, there are DEGEN supply allocations for a liquidity mining program, liquidity pools on several DeFi platforms, and community development and support.

Currently, Degen uses two external pools that liquidity providers can use to earn yields on 

The chart below shows the DEGEN token's supply allocation shares.

Farcaster’s protocol is designed to facilitate the launch of sufficiently decentralized social media apps. A “sufficiently decentralized” network is defined as one on which two users can interact with each other even if the rest of the network wants to prevent it. The protocol is based on 

 (OP), a popular Layer 2 platform linked to the Ethereum blockchain.

Farcaster features a format quite similar to that of X, with users sharing digital content in the form of casts — rough equivalents of tweets on X or forum posts on Reddit.

A key element of the Farcaster protocol is its Warpcast wallet app, which lets you interact with the many channels — public interaction spaces dedicated to a specific topic or theme — within the Farcaster ecosystem.

 is a type of content posting that features an interactive, full-fledged app embedded into the cast. Using Frames, you can utilize fairly advanced app functionality in your casts. Users have employed Frames for video content, interactive polls, live feeds and more. Thanks to their interactive nature, Frames have expanded Farcaster's popularity since their introduction in January 2024.

The Farcaster platform isn’t a newbie on the decentralized social media scene, having been founded in 2020, but it was only with the launch of the Frames functionality that the protocol finally took off.

 are the primary way that users on the platform interact with others and with their own accounts. Farcaster messages aren't limited to posting textual or other digital content to a channel, as the platform uses the message term to denote any user interaction with the network registered on the blockchain. This includes posting content via casts, liking other users' casts, following other users, uploading a profile picture and proving ownership of digital assets on the underlying blockchain, Ethereum.

 network of nodes, which facilitates the scaling of Farcaster to millions of users. To prevent network spamming, users are charged rent for storing their messages on the network.

Below are the five primary message types that users can publish to the Farcaster network.

Channels are public interaction spaces where users can communicate, share content via casts and tip other community participants' casts. Users can create a channel host by paying a fee with Warpcast to grow their own audience. Farcaster channels are typically structured around a particular topic or theme, and are thus similar to communities on X or subreddits on Reddit.

In late March 2024, the Degen project launched its own 

-compatibleLayer 3 (L3) platform, the Degen chain. It sits atop the 

, which, in turn, is linked to the underlying Ethereum 

 (L1) blockchain. The Degen chain was built using 

 technology that facilitates the launch of highly customizable blockchains, including L2 networks that settle directly on Ethereum or L3 networks that settle on any Ethereum L2 chains.

The Degen chain purports to have minimal transaction costs, which will undoubtedly encourage more active DApp development and adoption on the newly created platform. DEGEN is designated as the chain's native 

By launching its own network, Degen is moving beyond being just another Farcaster channel and into something more ambitious: a full-fledged decentralized community with a variety of DApps utilizing the DEGEN token in their functional models. This should further expand the token’s applications and use cases.

The Degen chain has so far proved to be popular among crypto enthusiasts, particularly meme coin aficionados. After just four days of operation, the chain reached

, with more than 2,000 custom tokens having been launched on it. At this early stage, the majority of these tokens are believed to be related to various scams, and investors are warned to treat these assets with caution. However, as the chain matures and its functionally useful DApps gain recognition, the new L3 network has a great chance of becoming a major social media hub.

Layer 3 blockchains are highly customizable networks deployed for specific use cases, sometimes even for a single application. They sit on top of an L2 chain, and have the potential to extend its functionality to better fit the project’s needs. In the case of the Degen chain, which uses Base L2, the primary use cases revolve around social network apps, as well as other projects that might want to use DEGEN as their native crypto.

The advantage of having a dedicated Layer 3 is a greater ability to customize the key components of a network. For example, while the Degen chain employs Base for transaction settlement, it uses Arbitrum’s 

 technology for another key functional module, the data availability layer, which is used by decentralized platforms to store data and metadata required for transaction validity checking.

The DEGEN token is still in the early stages of its market presence. So far, the token has benefited massively from its unique concept and the announcement of the Degen L3 chain. DEGEN was introduced in mid-January 2024, trading at tiny fractions of a cent, $0.000023 to be precise. By the time the Degen chain was launched in late March 2024, the DEGEN’s price had risen above $0.02, roughly a 100,000% appreciation. 

As of early April 2024, wild ups and downs for the token remain usual, although this volatility might subside in the future. Nevertheless, any investor considering DEGEN should take into account its current highly volatile nature. Risky, volatile coins carry the potential for extremely high returns. Naturally, you might consider investing in this token for this precise reason if you don't mind 

Besides the opportunity to earn high returns at this early stage, DEGEN might be considered for longer-term investment purposes, based on the following:

The DEGEN token can be bought on Bybit via 

. If you don’t have a Bybit account, you can easily 

 and trade hundreds of crypto assets and products in its Spot and derivatives markets.

Having originated as a meme coin in the social media space, DEGEN and the Degen project are moving toward bigger goals, and Degen is no longer just a channel on Farcaster. With the launch of the Degen L3 chain, Degen’s ecosystem and its native token will support more use cases and innovative projects.

DEGEN will likely still be viewed primarily as a social media token, at least in the short term. However, this new crypto may open up opportunities for projects to integrate social network and community-building functions into finance, gaming, 

 trading and other applications. A lot of this potential hinges on Degen's ability to position its token as a truly functional crypto asset, not just a meme coin. 

At this early stage of the platform, it looks like Degen is starting to successfully build that image. If the Degen project keeps up the pace it’s gathered, we’ll soon be talking about the DEGEN crypto as a universal, multipurpose asset for a wide variety of use cases and applications.

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Degen (DEGEN): The Community Currency of Social Network Farcaster

Bybit Learn

Crypto

In crypto, it is important to be wary of scams that you could fell prey to. In this article, we shed light on some of the most well-known ones and how to avoid them.

Cryptocurrency has revolutionized the way we perceive and interact with money, but with great innovation comes great responsibility. The digital landscape is riddled with scams and fraudsters eager to prey on unsuspecting investors. Protecting your hard-earned digital assets requires vigilance, research, and secure practices. In this post, we will explore the various types of crypto scams, offer essential tips on how to avoid crypto scams and provide guidance on reporting and recovering from scams.

Crypto scams come in various forms, each meticulously designed to part you from your digital assets. The tactics employed by crypto scammers are as diverse as they are dangerous. It’s important to stay vigilant and educate yourself about these scams to protect your assets.

Understanding how these scams operate and learning to recognize red flags are key steps toward safeguarding your assets.

One easily identifiable scam is fake cryptocurrency projects. These projects usually identify themselves as alternative options to more significant cryptocurrencies. For example, a cryptocurrency may claim to be an upcoming fork of an established cryptocurrency, such as 

 (ETH), or simply a new cryptocurrency from the parent company of Ethereum. They lure you into getting interested in it since crypto, such as Ethereum is booming, but at the same time, it might be a little late to invest in ETH for large profits. 

Many people are not aware of how cryptocurrencies even work. But they’re willing to invest due to “fear of missing out” (FOMO). Once the people behind this bogus cryptocurrency feel they have taken enough money, they can transfer all the crypto investments into their bank accounts and quickly shut down the fraudulent project, leaving the “investors” without their assets.

, a fake cryptocurrency that saw $6 million stolen from investors who believed it was real.

Another common crypto scam is bogus exchanges. These fake exchanges build a reputation among cryptocurrency communities by claiming they’re legit, as well as offering seemingly lucrative staking yields and airdrops than legitimate exchanges. Shortly after investors buy in, they can never get a hold of these coins. Instead, these fake exchanges often went missing and remained uncontactable.

For example, BitKRX convinced many people that they were one of the biggest cryptocurrency exchanges of the decade, resulting in the large-scale theft of people’s money. The scammer of the exchange was then reprimanded by the local government authorities in South Korea in 2017.

Pump-and-Dump schemes originate in the stock market. The main idea behind a pump-and-dump is that an asset is predicted to have a future increase in its price so that people will invest at a lower price. This automatically drives the product's price to increase as demand starts exceeding supply. Once the individual/group behind the pump-and-dump scheme makes enough money, they “dump” the project. 

Inspired by significant cryptocurrencies such as 

 (BTC), investors attempt to hype up and promote fake plans about a cryptocurrency to more buy-in from the public. As a result, people begin investing in that cryptocurrency, believing that its prices will surge based on seemingly strong fundamentals. However, once they realize the “innovative” plans were a hoax, the cryptocurrency is dumped, resulting in substantial financial losses for everyone involved — except the con artist behind the scheme.

Visual representation of pump-and-dump. Source: 

When trading crypto on exchanges that offer peer-to-peer (P2P) trading services, be aware that P2P scams can occur if the seller attempts to skirt the exchange’s escrow system by making an external transaction with the buyer. After the seller receives the buyer’s payment, the scammer pretends the transaction didn’t go through and refuses to keep their end of the bargain.

App fraud involves malicious apps that steal funds or personal information from unsuspecting users. Scammers may create fake crypto trading apps or exploit popular platforms to deceive victims. Fake apps are often swiftly detected and removed from official app stores; however, thousands may have already fallen prey to their schemes.

These apps are usually based on existing apps, and only a letter may differ in the name so that people get tricked into thinking they’re genuine. Once these apps are downloaded, they can introduce malware to your device or steal your data once you enter your private information. Exercising caution when downloading apps, assessing reviews, and verifying the legitimacy of the app’s developer can help prevent you from falling victim to these scams.

Top 19 Crypto Scams in 2024: How to Avoid Them (Updated)

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