The price of DEGEN is up more than 2,000% in 30 days.

Degen, the recently surging memecoin, has launched its own Layer 3 network.

Announced on March 28, Degen teamed up with Syndicate, a Layer 3 infrastructure provider, to launch Degen Chain.

The chain was built on top of the Arbitrum Orbit tech stack, will settle transactions on Base — the Ethereum Layer 2 DEGEN launched on — and taps AnyTrust for data availability services. The L3 provides additional utility to the DEGEN token, with the token now functioning as the network gas token for Degen Chain.

“Arbitrum Orbit was chosen because of its flexibility and ability to support custom gas tokens,” Will Papper, co-founder of Syndicate, told The Defiant. “Settling transactions to Base has the benefit of enabling more seamless bridging and on/off-ramping from Base and Coinbase for users and developers.”