TL;DR

The contract at 0x8535f232e8170b0909b98f6f01be656be5465032 on Base maps to Degen (DEGEN), a Farcaster-born tipping token that has evolved into real utility—including helping power the community-built Degen Chain (an L3 anchored to Base). Some sources may label this address as “HDGN,” but the broader ecosystem and on-chain references recognize it as DEGEN. Always verify the contract address on BaseScan before trading.

What is DEGEN?

• Token name and symbol: Degen (DEGEN)
• Contract: 0x8535f232e8170b0909b98f6f01be656be5465032
• Chain: Base, an Ethereum Layer 2 (L2)
• Origin: A community reward token on the Farcaster social network, used for tipping creators and curating content quality.

In simple terms, DEGEN started as a “tip coin” for Farcaster users. It’s now much more than a meme: the community has turned DEGEN into a real building block in the Base ecosystem.

Why Base matters

Base is Coinbase’s L2 built with the Optimism OP Stack. Think of it as Ethereum’s fast lane—lower fees, quicker transactions, same security roots. Base is a friendly home for dapps and tokens like DEGEN to scale user activity without the heavy gas costs.

Utility and ecosystem

• Community tipping: DEGEN is a reward token that lets Farcaster users tip posts and creators they value. This simple mechanic bootstrapped a vibrant on-chain social economy.
• Degen Chain (L3): The DEGEN community helped launch Degen Chain, an “Layer 3” built on top of Base. L3s stack on L2s for specialized execution environments, giving communities more control and lower costs for specific use cases.
• Community governance vibes: While not a formal DAO spec, DEGEN’s growth is driven by builders, creators, and liquidity providers who collectively fund ideas, develop tools, and expand the lore.

Tokenomics snapshot

• Airdrops: An initial 15% of supply was airdropped to active members of Farcaster’s Degen channel, with plans to distribute up to 70% to the community over time.
• Supply references:
  • Circulating supply: ~21.10B DEGEN
  • Max supply: ~36.96B DEGEN
• Market references:
  • ATH: $0.0645 (March 31, 2024)
  • Historical price range example: ~$0.001433–$0.001452
  • 24h volume example: ~$11.5M–$12.6M
  • Market cap reference range: ~$30.4M–$53.8M

Note: These figures are historical references and may change. Check live data sources and your preferred analytics tool before making decisions.

Community and sentiment

DEGEN’s core strength is its people: developers, creators, and early crypto OGs who embraced tipping as a social primitive. The community is tightly knit, active on Farcaster, and generally optimistic. That engagement has led to games, NFTs, and reward mechanisms built around DEGEN.

About the “HDGN” label

Some trackers show this same contract as “HDGN” with limited visibility (no major listings, sparse data, and minimal social presence). When symbols conflict, the contract address is your source of truth. For this address, the broader ecosystem associates it with DEGEN. Protect yourself by:

• Verifying on BaseScan
• Checking your wallet’s token metadata against the contract
• Confirming liquidity pools and trading pairs before swapping

How to trade safely

• Verify the contract: 0x8535f232e8170b0909b98f6f01be656be5465032 on Base.
• Use reputable venues that support Base:
  • Aerodrome
  • Uniswap on Base
  • gmgn.ai token page for analytics, smart money tracking, and trade tooling
• Start small, watch slippage and fees, and double-check pool details. If a platform or pair looks off (e.g., unusually high tax or illiquid pools), step back and reassess.

Security notes

• Audits: Public audits for community tokens like DEGEN may be limited. Always do your own research.
• Common checks:
  • Honeypot and tax flags
  • Mint or blacklist functions
  • Ownership and upgradeability
• Use tools that highlight contract risks and wallet activity, and verify before signing any transaction.

Developer and researcher resources

• Token on BaseScan: basescan.org/token/0x8535f232e8170b0909b98f6f01be656be5465032
• Base Chain: base.org
• Farcaster: farcaster.xyz
• Optimism OP Stack: optimism.io/op-stack
• Degen Chain (L3): degen.tips

Key takeaways

• The address 0x8535…5032 is broadly recognized as Degen (DEGEN) on Base.
• DEGEN evolved from a meme-tipping token on Farcaster into real utility, including powering Degen Chain (L3).
• Community-first tokenomics (large airdrops, grassroots tooling) fuel ongoing growth.
• Verify the contract, use reputable Base-compatible platforms, and lean on analytics before trading.