Layer 3 Degen Chain hasn’t produced a block in 11 hours
Layer 3 Degen Chain is experiencing operational downtime. The network stopped at block #15524774 and has not produced a block for over 11 hours.
The outage began unexpectedly, with the network ceasing to validate new transactions for over 11 hours, according to its block explorer . This disruption came to light when the network stalled at block #15524774 around 4:15 p.m. ET on Sunday.
The downtime has rendered various decentralized applications and bridges on Degen Chain — including Relay bridge, DegenSwap, Mint Club, and Frogswap — completely inoperative. As such, users of these platforms are currently unable to perform any transactions.
Degen Chain, which operates on the Arbitrum Orbit tech stack, primarily settles on Base and utilizes the AnyTrust protocol for ensuring data availability.
Syndicate, a Web3 infrastructure provider, released Degen Chain in late March. It currently hosts $2.6 million in total value locked (TVL), according to DeFiLlama.
The chain uses Degen as its native gas token instead of ETH. Degen is an ERC-20 token on Base and was created in the Degen channel on Farcaster in January 2024.
Interestingly, the current network issues have not impacted the on-chain activities of the Degen token on Base, which continues to operate without disruption.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Decoding VitaDAO: A Paradigm Revolution in Decentralized Science
Mars Morning News | ETH returns to $3,000, extreme fear sentiment has passed
The Federal Reserve's Beige Book shows little change in U.S. economic activity, with increasing divergence in the consumer market. JPMorgan predicts a Fed rate cut in December. Nasdaq has applied to increase the position limit for BlackRock's Bitcoin ETF options. ETH has returned to $3,000, signaling a recovery in market sentiment. Hyperliquid has sparked controversy due to a token symbol change. Binance faces a $1 billion terrorism-related lawsuit. Securitize has received EU approval to operate a tokenization trading system. The Tether CEO responded to S&P's credit rating downgrade. Large Bitcoin holders are increasing deposits to exchanges. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively improved by the Mars AI model.
The central bank sets a major tone on stablecoins for the first time—where will the market go next?
The People's Bank of China held a meeting to crack down on virtual currency trading and speculation, clearly defining stablecoins as a form of virtual currency with risks of illegal financial activities, and emphasized the continued prohibition of all virtual currency-related businesses.
Trending news
MoreCrypto prices
More
