DAO infrastructure SYNDICATE announced the use of ARBITRUM ORBIT to build L3 $DEGEN CHAIN and settle transactions using BASE. The project has received investment from A16Z and is conducting a decentralized auction (DA) through ANYTRUST. The GAS token for $DEGEN CHAIN is $DEGEN, which originates from the largest native MEME coin of FARCASTER, a social application also invested in by A16Z. In February, $DEGEN secured a funding of 490.5 ETH led by 1CONFIRMATION.