According to Wu, Binance has announced that it will launch the DEGENUSDT perpetual contract at 11:30 (UTC) on November 15, 2024, with a maximum leverage of up to 75x. Binance has yet to launch a spot trading pair for it. According to Coingecko, Degen is a token on the Base chain, which was originally a reward token for participants in the Farcaster Degen channel. Originally just a meme coin, the token has now been purchased by many developers, crypto content creators, and fans. At launch, 15% of the total supply was airdropped to active members of the Degen channel on Farcaster, and it is expected to eventually airdrop 70% of the total supply.