Discover DegenReborn's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is DegenReborn?

DegenReborn (DEGEN) is a blockchain-enabled, Web3 game that combines elements of Crypto Twitter culture and memes. It offers a life simulation experience with deep strategies similar to Mahjong and Hold'em, featuring deflationary tokenomics and a native multichain architecture. The game integrates Chainlink Automation and Chainlink VRF, allowing players to earn rewards, stake assets, and participate in lotteries. It also includes NFTs of prominent crypto personalities, enhancing the gaming experience.

How is DegenReborn used?

DegenReborn (DEGEN) is a utility token used in the DegenReborn game, which is an almost-fully-onchain Web3 game that incorporates elements of Crypto Twitter culture and memes. The token is employed for various purposes within the game:

  1. Earning Rewards: Players can earn DEGEN tokens by participating in the game, particularly in life rounds. These tokens can be used to win airdrop rewards and big prizes, including more DEGEN tokens.

  2. Tokenomics: The game features jackpot tokenomics to reward players, known as "degenerates," and referral bonuses to incentivize viral growth. This tokenomics system is designed to be deflationary, which means it aims to reduce the token supply over time.

  3. NFT Collection: DEGEN tokens can be used to enhance gameplay by acquiring limited NFT collections, such as Degen2009. These NFTs provide boosts to game performance and can also be used to burn unwanted heroes, earning a combination of native tokens like ETH or BNB and DEGEN tokens.

  1. In-Game Transactions: DEGEN tokens are used as the primary currency within the game, allowing players to engage in various activities and transactions.

Overall, the DEGEN token is central to the DegenReborn game, facilitating gameplay, rewards, and transactions within the ecosystem.

How do I store DegenReborn?

To store DegenReborn (DEGEN) tokens securely, it is recommended to use "Cold Wallets," which are offline wallets that protect your assets from potential hacks and exchange shutdowns. There are two types of cold wallets:

  1. Paper Wallet: This involves generating public and private keys offline and printing them on paper. The keys are in QR code form, allowing you to scan them for future transactions.
  2. Hardware Cold Wallet: This is a physical device that stores your cryptocurrency. Your crypto addresses and keys are kept on a USB drive, and only the person with the USB drive can access the assets. Hardware cold wallets are preferred by most users, especially for storing large numbers of coins or tokens.

How to buy DegenReborn?

To buy DegenReborn (DEGEN) tokens, follow these steps:

  1. Create an account:

    • On platforms like Bitget, create an account by following the sign-up process.
    • On MEXC, click on the "Buy Crypto" link on the top left of the website navigation.
  2. Complete identity verification:

    • On Bitget, complete the identity verification process to ensure secure transactions.
  3. Choose a payment method:

  • On Bitget, you can use various payment options such as credit/debit cards, Google Pay, Apple Pay, bank transfers, or fiat balance.
  • On MEXC, select your preferred method to buy the DEGEN tokens.
  1. Place an order:

    • On Bitget, place a DegenReborn order through your chosen payment method.
    • On MEXC, follow the platform's instructions to complete your purchase.
  2. Monitor your account:

    • On Bitget, monitor your DegenReborn tokens in your spot account.

Additionally, you can also use Binance to buy DegenReborn tokens by following their step-by-step guide.

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History of DegenReborn

DegenReborn (DEGEN) is an almost-fully-onchain Web3 game that combines elements of Crypto Twitter culture and memes. The game features a dystopian world where memes and viral events have taken over society, and players can experience 1500 random events to live a versatile life as a crypto degen. The game begins with players choosing their own characters, each with unique talents and attributes that help them in their journey. The objective is to live an eventful life and earn the game currency, DEGEN.

DegenReborn has gained significant attention in the blockchain community due to its innovative design and cutting-edge features. The game has won three prestigious hackathons: ETH Denver, Mask Network & StarkWare, and CyberConnect & BNB Chain. These achievements showcase the game's potential to become a leading project in the blockchain gaming industry.

The game's design incorporates various technologies such as Chainlink VRF, Coinday, OpenAI, and more. This integration provides an immersive gaming experience unlike traditional social games. DegenReborn also features in-game NFT collections called Degen 2009 NFTs, which can be used to enhance gameplay and even bring financial benefits.

In terms of price history, DegenReborn has seen significant fluctuations. Its all-time high was $0.00001047 on February 19, 2024, and its all-time low was $0.0000001176 on September 11, 2023. The current price is $0.0000005816, and it is updated in real-time on various cryptocurrency exchanges.

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How DegenReborn works

DegenReborn (DEGEN) is a Web3 game that combines elements of text-based and AVG (Adventure Game) styles to create a unique life simulation experience. Here's how it works:

Gameplay Overview
  1. Starting the Game: Players pay a fee in BNB to enter the game. This fee goes towards the Degen Jackpot, which is a central pool of funds that rewards players.

  2. Buying Talents and Attribute Points: By default, players receive 3 talents and 10 attribute points. They can purchase more talents and attribute points as they progress through the game. Talents are generally cheaper than attribute points, especially at advanced levels.

  3. Selecting Talents and Allocating Points: Players choose talents for their current incarnation and allocate attribute points accordingly. The game also retrieves names from the player's social circle to add a social element.

  1. Gameplay and Lifescore: The game unfolds, and players experience various events, many of which are uncontrollable, similar to real life and the market. At the end of each incarnation, players are presented with their lifescore.

  2. ERC721 Tombstones: An ERC721 token is minted to represent each incarnation, which can be traded. The owner of the ERC721 token owns that specific incarnation.

Jackpot and Rewards
  • Jackpot Distribution: The Degen Jackpot is distributed as follows:

    • 48% goes directly to the current season's jackpot.
    • 26% is used for DEX liquidity and DEGEN token buyback and burn.
    • 12% goes to the next season's jackpot.
    • 10% goes to the Piggybank.
    • 4% is protocol income.
  • Reward Selection: At the end of each season, 10 incarnations are randomly selected from the top 100 by lifescore to share 50% of the season's jackpot. To be eligible, players must be in the top 100 by lifescore.

Token Usage
  • DEGEN Token: The primary utility of DEGEN tokens is to earn rewards such as Airdrop and Jackpot, which provide both DEGEN tokens and native tokens like BNB.
Additional Strategies and Tips
  • Pay-to-Win: It is not optimal to repeatedly start new rounds without purchasing additional talents and attribute points. Instead, calculate a target lifescore and top up just enough to reach that score.

  • Top 100 and Airdrop: The top 100 moves quickly, so it is essential to stake on an incarnation that stays in the top 100. For Airdrop rewards, it might be beneficial to be the 10th rather than the 1st, as the reward amount is the same for all top 10, but you get a bigger share if the Total Value Locked (TVL) is smaller.

  • Tribute and Share: Winning is determined by TVL, and share is determined by Coinday. Supporting your tributed incarnation in the last minute does not increase your share, but it helps the incarnation rank up in the leaderboard.

  • Tombstones as Mining Rigs: High-achieving incarnations produce high lifescore tombstones, which can be among the top 100 and receive Airdrop rewards hourly. These tombstones can be considered as mining rigs.

  • Saving for Later: A possible strategy is to keep DEGEN tokens across to the next season. At the start of the season, the leaderboard is empty, and holders' DEGEN has been spent on the previous season. If you have a large amount of DEGEN at that point, you can even get 10/10 of all Airdrops.

These strategies and tips help players navigate the game and maximize their rewards.

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DegenReborn's strengths

DegenReborn (DEGEN) has several strengths that contribute to its popularity and potential growth:

  1. Unofficial Coin of Farcaster Community: DEGEN has strong ties to the Farcaster community, which has driven its adoption and growth.

  2. Layer 3 Blockchain: DegenReborn has its own Layer 3 blockchain, called Degen Chain, which is designed for memecoins and other applications. This blockchain saw significant adoption immediately after its launch, with 3.5 million transactions, $10 million bridged over, and 96,000 new addresses within the first 48 hours.

  3. Fair Launch and Tokenomics: DEGEN had a fair launch, and its tokenomics are designed to be deflationary, which can help maintain the value of the token.

  1. Native Multichain Architecture: DegenReborn's architecture allows it to operate on multiple chains, enhancing its versatility and potential for growth.

  2. Integration with ChatGPT AIGC: The game incorporates advanced AI technology, making it more interactive and engaging for users.

  3. Triple Crown Winner: DegenReborn has won three hackathons, including ETH Denver, Mask Network & StarkWare, and CyberConnect & BNB Chain, demonstrating its innovative approach and potential.

These strengths have contributed to DEGEN's rapid growth and its potential for continued success in the crypto market.

DegenReborn's risks

DegenReborn (DEGEN) is a highly volatile cryptocurrency, and investing in it carries significant risks. Here are some of the key risks associated with DEGEN:

  1. Market Volatility: DEGEN's price can fluctuate rapidly and unpredictably, leading to significant losses if not managed properly. The cryptocurrency market is known for its high volatility, and DEGEN is no exception.

  2. High Risks of Investing: Investing in DEGEN is considered high-risk due to its volatility and the potential for significant losses. It is crucial to understand the risks and potential rewards before investing.

  3. Deflationary Tokenomics: DEGEN's tokenomics are designed to be deflationary, which means that the token supply can decrease over time. This can lead to price fluctuations and affect the overall value of the token.

  1. Lack of Predictability: It is impossible to predict the future value of DEGEN with certainty. The cryptocurrency market is highly unpredictable, and DEGEN's value can be influenced by a wide range of factors, including global economic conditions, regulatory changes, and market sentiment.

  2. Security Risks: As with any cryptocurrency, there is a risk of security breaches or hacking incidents that can result in the loss of funds. It is essential to use secure wallets and follow best practices for cryptocurrency storage.

  3. Regulatory Uncertainty: The regulatory environment for cryptocurrencies is constantly evolving, and changes in regulations can significantly impact the value of DEGEN. It is crucial to stay informed about regulatory developments and their potential impact on DEGEN.

  1. Limited Liquidity: DEGEN's liquidity can be limited, making it difficult to buy or sell the token quickly and at a favorable price. This can lead to significant losses if you need to liquidate your holdings rapidly.

  2. Dependence on the DegenReborn Game: The value of DEGEN is closely tied to the success of the DegenReborn game. If the game fails to attract players or experiences technical issues, the value of DEGEN can decline significantly.

  3. Competition from Other Cryptocurrencies: The cryptocurrency market is highly competitive, and DEGEN faces competition from other tokens and projects. If DEGEN fails to differentiate itself or provide unique value, it may struggle to attract investors and users.

  1. Lack of Mainstream Adoption: DEGEN is still a relatively niche cryptocurrency, and its adoption is limited compared to more established cryptocurrencies. Widespread adoption is crucial for the long-term success of DEGEN, but it is uncertain whether this will occur.

In summary, investing in DegenReborn (DEGEN) carries significant risks due to market volatility, high risks of investing, deflationary tokenomics, lack of predictability, security risks, regulatory uncertainty, limited liquidity, dependence on the DegenReborn game, competition from other cryptocurrencies, and lack of mainstream adoption. It is essential to carefully evaluate these risks and consider your personal financial situation before investing in DEGEN.

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Did DegenReborn raise funds?

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DegenReborn’s team

  • Wilbur: Creator of DegenReborn, recognized for winning three hackathons, including ETH Denver, Mask Network & StarkWare, and CyberConnect & BNB Chain.

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