DegenLayer Announces Testnet Release, Marking a Key Step Toward Its Upcoming Mainnet Launch

DegenLayer, a newly launched memecoin focused blockchain & trading terminal app suite, has announced its testnet release, marking a key step toward its

Chainwire

DegenLayer, a newly launched memecoin focused blockchain & trading terminal app suite, has announced its testnet release today, marking a key step toward its upcoming mainnet launch. The platform facilitates zero setup memecoin trading and creation, leveraging the $20 billion liquidity within the Optimism Superchain ecosystem.

Project developers project daily revenues of $1 million in ETH, assuming a daily DEX trading volume of $200 million. With low transaction fees and a streamlined user interface, DegenLayer provides a gateway for mainstream users to engage in blockchain-based trading and creation.

The project’s native token $DELAY was fair launched on Uniswap last week, and is set to be listed on one of the top 15 CoinGecko-ranked exchanges next week, providing access to the token to their 10 million+ user community.

The project is powered by a 60+ person team behind notable successes including PunksClub.io the CryptoPunk social network, Music.com (developed with Pharrell Williams), and AAA games like The Witcher 3 and Dying Light 2. The founding team previously achieved remarkable success with SuperBid, driving token value from $0.01 to $12 in 2021.

“Our proven track record in both Web3 and gaming demonstrates our ability to deliver compelling user experiences,” says Jacob Rylko, Co-Founder & CEO. “With DegenLayer, we’re leveraging our existing reach of 3 million+ users through our Telegram mini-app, Firecoin, to accelerate adoption.”

Key features and projections:

DegenLayer’s launch marks a significant milestone in making memecoin trading accessible to mainstream users while also leveraging established Optimism infrastructure, the same that is used by Coinbase’s BASE Layer 2.