What is Degen Dex (DEGN)?

Degen Dex is a decentralized exchange (DEX) platform designed by its development team to improve trading on the Solana ecosystem. Solana is a blockchain platform for scalable and decentralized applications. Degen Dex enables a seamless, integrated trading experience in the Solana ecosystem, regardless of their trading level. The platform aims to offer GUI-based (Graphical User Interface) SPL(Solana program library) token management. Degen has its Launchpad that gives users a comprehensive experience of the token sale. Launchpads help blockchain-based projects raise capital and give access to initial-stage token sales.

$DEGN is the token of the Degen Dex platform. On the platform, users can trade, swap, and yield farm with DEGN token. Yield farming is the process of earning tokens by lending or holding the tokens. Degen DEX also facilitates external network linkage expansion of NFTs, token utility, and can easily list any minted tokens.

The tokenomics of the DEGN token is distributed in following way;

• Degen Dex offers 25 percent of the token supply to all the users who provide their DEGN token for staking, i.e., 4.6 billion DEGN as rewards.

• Twenty-percent of the token supply, i.e., 4.6 billion, is distributed to the Solana ecosystem and community.

• Marketing and Promotions reserve fifteen percent of the total amount.

• Twenty percent of the token supply is used for the liquidity pools to make trading easier for users.

• Degen Dex team is allocated 10 percent of the token supply.

• The remaining 5 percent is utilized to build connections between various projects, communities, and established businesses.

History of Degen Dex

The Degen Dex coin was launched on the Solana Blockchain in October 2021. The first airdrop of the DEGN token supply was made in the same year of its launch. The network has partnered with Serum, Raydium, Solscan and more.

The total supply of the Degen Dex token is 18.4 billion DEGN.