Degen Chain Back Online After Two-Day Hiatus

Degen Chain, an Ethereum layer-3 blockchain dedicated to meme coins, is back online after a two-day outage.

The chain had been unusable since it effectively shut down at 20:15 UTC on May 12. For over 50 hours, it failed to validate transactions or produce new blocks.

The protocol relies on Conduit, a rollup infrastructure platform, for its technical framework and operational support, particularly for managing transactions and data availability.

Rollups process transactions off-chain, then bundle and submit them to Ethereum, increasing speed and reducing costs. By using Conduit, Degen Chain can function as a layer-3 blockchain, allowing it to handle high transaction volumes.

On May 14, Degen Chain announced it was working with Conduit to resolve the downtime, which Conduit attributed to a "custom config change" that halted block production for Degen Chain.

Degen Chain launched earlier this year and quickly hit $100 million in trading volume thanks to the current meme coin craze.

According to DefiLlama, the chain has a market cap of just under $200 million and a total locked value of $2.17 million. The outage pushed the value of its native token, DEGEN, down by 6% to $0.16.