Degen, Farcaster Meme Coin, Upgrade Tip System in Juni

Bittime - Degen, a meme coin on the Farcaster platform, announced plans to improve its tip (reward) system which will take effect from June. This improved tip system aims to overcome spam problems while providing better rewards to Farcaster users who actively participate.

New DEGEN Tip Scheme

The new tipping system will allocate rewards based on three main factors:

• DEGEN Coin Ownership (minimum 10,000): Users who own a minimum of 10,000 DEGEN will be prioritized in the tipping scheme. This rule aims to prevent participation from fake accounts created solely for spam.
• Tipping Activity (minimum 5 times per week): The new system will also consider how active users are in tipping other Farcaster users. Thus, users who actively interact and support the community will be more appreciated.
• User Rankings on Farcaster: Degen will use global user rankings provided by OpenRank to select the top profiles on Farcaster. Users with high ratings have the potential to earn bigger tips.

It is hoped that the implementation of this system will create a healthier environment at Farcaster. Users who frequently spam will be ignored, while users who actively participate and make positive contributions will receive greater appreciation.

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Switching to Degen Local Rankings in July

Although Degen currently uses OpenRank global rankings, the future plan is to switch to Degen's local ranking system in July. 

These local rankings will be based on users' activity on specific channels and their tipping behavior.

This scheme is considered more relevant because it can provide more targeted rewards to users who actively participate and contribute to certain communities on Farcaster.

Degen: Popular Meme Coin on Farcaster

Degen is a meme coin that is quite popular on the Farcaster platform. The launch of this more sophisticated tipping system marks Degen's move to play an active role in building a better ecosystem at Farcaster.

The new tip system is expected to encourage higher quality and more useful interactions for Farcaster users.

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Contribution to Farcaster

Degen's innovation has the potential to pave the way for other meme coins to also develop various useful features and functionality in Farcaster.

In addition, Degen's success can be an inspiration for other meme coin projects to contribute positively to the blockchain ecosystem.

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How to Buy Crypto with Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also Read:

Meme Coin: Why is Degen (DEGEN) Price Soaring? This is the cause

Degen Price Prediction (DEGEN) 2024-2025: Better or Worse?

Apparently this is what makes DEGEN prices soar! 

DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.