For over 53 hours, Degen Chain, an Ethereum layer 3 blockchain, ground to a complete halt. No transaction validated or new block was produced since 8:15 pm UTC on May 12. This unprecedented stall rendered the entire network and decentralized applications unusable, leaving users and developers stranded.
Degen Chain is one of the few-layer 3 blockchains that settles transactions on a layer 2 network. It leverages Ethereum’s layer 2 Base chain for settlement while relying on the AnyTrust protocol to handle data availability functions.
As the downtime stretched, the official Degen Chain account took to X (formerly Twitter) on May 14 to reassure users they were working feverishly with development partner Conduit to restore operations.
Conduit quickly identified the culprit – a “custom config change” that inexplicably caused both Degen Chain and gaming network Apex to cease block production entirely. In their own X post, Conduit explained that nodes across the Degen Chain network began resynchronizing from the genesis block – the first ever block created on the chain.
“We’re working with both teams and Offchain Labs to restore service and minimize user impact,” Conduit promised.
Degen Chain’s Downtime Causes DEGEN Token Plunge
For Degen Chain, home to not just its eponymous memecoin DEGEN but an array of popular decentralized apps like DegenSwap, Mint Club, and bridging service Relay, the downtime translated to complete paralysis. Users found themselves locked out of their funds and apps, unable to transact.
According to Degen Chain’s latest estimates, the gruelling resynchronization process should finally culminate in a network restart around 1:00 pm UTC on May 15 (6:00 am Pacific). Only then can functions gradually return to normal.
In the meantime, the native DEGEN token took a 24% plunge, sliding from $0.02 on May 13 to just $0.015 as of CoinGecko’s latest readings. This is a harsh rebuke for the prolonged outage gripping one of Ethereum’s most vibrant layer 3 ecosystems.
DEGEN’s seven-day chart shows a price drop since Degen Chain’s block stall. Source: CoinGecko
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