DOGS, a Telegram-native memecoin, was launched in July and is scheduled to start trading on August 23. According to the DOGS Community page, user claims on the tokens have surpassed 6 million as of August 19.
DOGS was created on The Open Network (TON) and was reportedly inspired by the dog mascot Spotty. Pavel Durov, the founder of Telegram and the social networking site VK, created Spotty as an unofficial logo sticker. Ahead of its official trading launch, the $DOGS airdrop has created speculation within the community.
DOGS wants to leverage the Telegram community
DOGS launched itself as the “most Telegram-native” memecoin on July 9. The page said that it is “not just another memecoin” as it resonates with the platform’s users.
The memecoin project is largely community-driven and built on Spotty’s legacy. Spotty is a dog mascot that was first created by Pavel Durov, the founder of Telegram and the Russian social media site VK. Spotty debuted as the first unofficial logo of Telegram, and now, DOGS is in the top 3 popular apps on Telegram’s MiniApp Store.
6 million verified users have requested a direct deposit of their $DOGS to exchanges and Telegram Wallet—nothing like this has been seen before in crypto! 😎
We decided to add more withdrawal options and extended the claim period:
– Claim to exchanges & Telegram Wallet: until…
— Dogs Community 🦴 (@realDogsHouse) August 18, 2024
Dogs say that it will leverage Telegram and introduce “game changer” features as part of the app’s utilities.
DOGS boost the community with free tokens
The project claims that DOGS tokens will go only to the community and not investors. According to its official “Dogeconomics,” 81.5% of the tokens will go directly to the community with their immediate availability. The DOGS project claims that the tokens are free, i.e., there are no lock-in periods or restrictions on their withdrawal. 73% of these tokens will go to early users on the Telegram community who earned the memecoin. The rest of the tokens are earmarked for traders, sticker creators, and future members.
The project has attracted users with rewards for connecting their TON wallet. At the time of writing, the DOGS community is touching 16 million Telegram users in anticipation of early rewards.
10% of the tokens are set aside for the team behind $DOGS, which includes developers. Most of these tokens will be gradually released over 12 months, unlike the community tokens, which are available immediately. 8.5% of the tokens are reserved for liquidity on the centralized and decentralized exchanges around its listing.
As per the tokenomics, DOGS will have a limited supply with no new supply to be ever created. There are 550 billion DOGS tokens in total.
#Bitget settled the price according to new supply of 550B $DOGS
Pre – Market Price : 0.0011FDV : 600 Million + pic.twitter.com/0qQJc8VfJh
— Crypto with Khan ( SFZ ) (@Cryptowithkhan) August 16, 2024
The project’s goal is to create “the largest community memecoin,” representing the most iconic dog of Telegram. At press time, DOGS has 6 million airdrop claims from verified users. Meanwhile, looking at the community speculation around the coin, DOGS has extended its launch timeline.
The project is accepting airdrop claims until August 21 from exchanges and Telegram wallets. Non-custodial wallets can send in their requests until August 23. The trading launch is now expected to be at noon UTC on August 23.