Wu said that Binance announced that it would launch the DEGENUSDT perpetual contract at 11:30 (UTC) on 2024-11-15, with a leverage of up to 75 times. Binance has not yet launched its spot trading pairs. According to coingecko, Degen is a token on the Base chain, which was originally a reward token for participants in the Farcaster Degen channel. It started as a meme coin and now has a large number of developers, crypto content creators, and enthusiasts who bought the token. At the time of the initial launch, 15% of the total supply was airdropped to active members of Farcaster's Degen channel, and it is planned to eventually airdrop 70% of the total token supply.