Degen Chain Back Online After Two-Day Hiatus

• Degen Chain, a blockchain dedicated to meme coins, is back online after a two-day hiatus.

• The problem stemmed from issues with its rollup provider.

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.

Please note that the block explorer is still indexing and does not reflect the latest state.

Infrastructure providers should start reindexing the chain from this block: https://t.co/ieywYtzht6

This block is a conservative estimate to ensure your indexing is consistent.

— Conduit (@conduitxyz) May 15, 2024

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.