Degen Chain Resumes Operations Following 50-Hour Outage

Degen Chain, a Layer 3 network built on top of Base, has restored operations after a prolonged outage lasting more than 50 hours.

The network encountered a block production failure on May 12, causing it to remain inactive for two days before regaining functionality.

Acknowledging the disruption, Degen Chain expressed gratitude for the community's patience and support via Twitter on May 15.

The downtime stemmed from a configuration change that interrupted block production, as reported by Degen's third-party infrastructure provider, Conduit. Less than five addresses flooded the network with a substantial volume of failed transactions, impeding the replay process.

Despite the setback, transactions from these addresses can be replayed with a delay, allowing the network to resume operations without obstruction.

CoinGecko data indicates a 22% decline in the price of DEGEN since May 12, reflecting market sentiment amidst the outage.

Degen Chain's recent outage follows a period of heightened activity during the third season of its second airdrop campaign. In late April, the network achieved record throughput, surpassing Base's all-time high, before experiencing a significant decline following the airdrop campaign's launch.

Originally introduced as a meme token in January, DEGEN quickly gained attention within the web3 community. The project transitioned into Degen Chain, a low-fee Layer 3 network, leveraging Arbitrum Orbit tech and AnyTrust for data availability.

While initially serving as a platform for the DEGEN token and community, Degen Chain expanded to accommodate third-party developers. However, despite its ambitions, the network's ecosystem currently reflects a total value locked of $2.15 million, a significant drop from its peak.

DegenSwap, a decentralized exchange, stands as the network's primary protocol, boasting a TVL of $1.26 million and pre-outage daily volume of approximately $102,000.

As operations resume, Degen Chain aims to address the challenges encountered during the outage and continue its efforts to establish a robust and sustainable ecosystem.