IMPORTANT: Binance will be the first platform to list the token mentioned herein, with trade starting at 2024-08-26 12:00 (UTC). Any claims to offer this token for sale before the stated timeline are false advertising. Please do your own research to ensure safety of your funds!
Fellow Binancians,
Binance is excited to announce the 57th project on Binance Launchpool - Dogs (DOGS), a Ton memecoin born within Telegram community. The webpage is estimated to be available in 24 hours, before the Launchpool starts.
Users will be able to stake their BNB and FDUSD into separate pools to farm DOGS tokens over three days, with farming starting from 2024-08-23 00:00 (UTC).
Listing
Binance will then list DOGS at 2024-08-26 12:00 (UTC) and open trading with DOGS/USDT, DOGS/BNB, DOGS/FDUSD and DOGS/TRY trading pairs. The Seed Tag will be applied to DOGS.
DOGS Launchpool Details:
Token Name: Dogs (DOGS)Total and Max Token Supply: 550,000,000,000 DOGS Launchpool Token Rewards: 22,000,000,000 DOGS (4% of total token supply)Initial Circulating Supply When Listed on Binance: 516,750,000,000 DOGS (~93.95% of total token supply)
Smart Contract Details: Ton
Staking Terms: KYC required
Hourly Hard Cap per User: 25,972,222.22 DOGS in BNB pool4,583,333.33 DOGS in FDUSD pool
Supported Pools:
Stake BNB (webpage will be available in around 24 hours): 18,700,000,000 DOGS in rewards (85%) Stake FDUSD (webpage will be available in around 24 hours): 3,300,000,000 DOGS in rewards (15%)Farming Period: 2024-08-23 00:00 (UTC) to 2024-08-25 23:59 (UTC).
DOGS Farming Accumulation
Dates (00:00:00 - 23:59:59 UTC each day)Total Daily Rewards (DOGS)BNB Pool Daily Rewards (DOGS)FDUSD Pool Daily Rewards DOGS)2024-08-23 - 2024-08-257,333,333,3336,233,333,3331,100,000,000
Read about Dogs (DOGS) in our research report here, which will be available within 12 hour of publishing this announcement.
Project Links
Telegram Bot
X
Telegram Community
Please note:
Binance will support the distribution of the DOGS airdrop claims for eligible users who choose to deposit to their Binance account from the DOGS airdrop claim page (the page will be available in around 5 hours). If users claim the DOGS airdrop but do not receive tokens in their Binance spot account 1 hour before the listing time, please claim DOGS on-chain or contact DOGS Telegram Bot.Users residing in the following countries or regions will not be able to participate in airdrop distribution: Canada, Cuba, Crimea Region, Cyprus, Georgia, Iran, Ireland, Japan, Luxembourg, Netherlands, North Korea, Syria, United Kingdom, United States of America and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands), Uruguay, Uzbekistan and Venezuela.Snapshots of user balances and total pool balances will be taken multiple times at any point of time each hour to get users’ hourly average balances and calculate user rewards. User rewards will be updated each hour. Users will be able to accumulate their rewards (calculated each hour) and claim these rewards directly to their spot accounts at any time.Each pool’s annual percentage yield (APY) and total pool balance will be updated in real time.Tokens can only be staked in one pool at a time. For example, User A cannot stake the same BNB into two different pools at the same time, but can allocate 50% of their BNB into pool A and 50% into pool B.Users will be able to unstake their funds at any time with no delay and participate in any other available pools immediately.Tokens staked in each pool and any unclaimed rewards will be automatically transferred to each user’s spot accounts at the end of each farming period.Binance BNB Simple Earn Flexible Products and Locked Products will support the Launchpool. Users who have staked their BNB in Flexible Products and Locked Products will automatically participate in the Launchpool, and receive new token rewards.If there are more than one Launchpool projects running concurrently, users' BNB assets in BNB Flexible Products and Locked Products will be split and allocated into each project equally unless otherwise specified.BNB Flexible Products assets collateralizing against Binance Loans (Flexible Rate) are not entitled to Launchpool rewards.Staked Lista BNB (slisBNB) in Binance Web3 MPC Wallet will be supported in Launchpool reward calculation.BNB staked into Launchpool will still provide users with the standard benefits for holding BNB, such as airdrops, Launchpad eligibility and VIP benefits.For users with running Spot Copy Trading portfolios, pairs can be included by enabling them in the [Personal Pair Preference] section of the Spot Copy Trading settings.Binance reserves the right to disqualify and revoke rewards for participants who engage in dishonest or abusive activities during the Launchpool, including but not limited to registering from the same IP or device, bulk-account registrations to farm additional bonuses and any other activity in connection with unlawful, fraudulent, or harmful purposes.
Participation in Launchpool is subject to eligibility based on the user's country or region of residence. Please refer to the instructions on the Launchpool page.
Please note that the list of excluded countries provided below is not exhaustive and may be subject to changes due to evolving local rules, regulations, or other considerations.Users need to complete their account verification and also be from an eligible jurisdiction to participate in farming DOGS.
Currently, users residing in the following countries or regions will not be able to participate in farming DOGS: Australia, Canada, Cuba, Crimea Region, Iran, Japan, New Zealand, Netherlands, North Korea, Syria, United States of America and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands), and any non-government controlled areas of Ukraine
This list may be updated periodically to accommodate changes in legal, regulatory, or other factors.
Note: There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.
Thank you for your support!
Binance Team
2024-08-21
Note: This announcement was updated on 2024-08-23 to remove Singapore from the list of unsupported countries and clarify Binance’s right to disqualify and revoke rewards for participants who engage in dishonest or abusive activities during the Launchpool.

The spotlight is on Nigeria, guys, and not for reasons that would make you want to break out into a dance. After decades of enjoying some of the lowest petrol prices on the planet, thanks to hefty fuel subsidies, my motherland decided to cut the cord. This was a monumental shift that had the international bigwigs nodding in approval. Yet, here I am, scratching my head, wondering if this was the move of a master strategist or a high-stakes gambler.

When Bola Tinubu stepped into the presidency in May, he did it with a bang. On day one, he axed the fuel subsidies, a move that had the World Bank and friends tipping their hats. This was supposed to be Nigeria’s ticket to economic stability and fiscal freedom. Along with this, Tinubu decided to say goodbye to a currency peg that had been as consistent as a bad sitcom rerun, courtesy of the previous central bank governor.

The idea was simple: let the market do its thing. But as the months rolled by, the “simple” plan started showing its complex underbelly. Nine months post-subsidy-cut, Nigerians are feeling the pinch, and it’s not just a gentle nip. Fuel prices have gone through the roof, tripling and dragging the costs of just about everything else with them. The Naira has been on a freefall, losing about 70% of its value against the dollar since the currency peg got the boot.

Now, this isn’t just about paying more at the pump. The subsidy cut has kicked off a domino effect. Food prices? Skyrocketing. Transport costs? You guessed it, up, up, and away. Inflation is having a field day, nearly hitting 30%, with food inflation even more ambitious at 35.4%. It’s a nightmare!

Experts and armchair analysts alike are raising eyebrows. Was all this pain part of the plan? Adedayo Ademuwagun from Songhai Advisory points out that while cutting subsidies is one thing, doing it without a safety net is quite another. The IMF did suggest a market-driven approach but also highlighted the need for “adequate compensatory measures for the poor.” Somewhere along the line, it seems that memo got lost.

The central bank, under new leadership, is expected to hike interest rates from their already lofty perch of 18.75%. This move is likely to throw yet another wrench in the works for ordinary Nigerians who are already stretched thin.

On the government’s side, there’s talk of increased revenue and promises of channeling savings into social programs. Yet, the implementation and transparency of these initiatives are under scrutiny. Critics argue that the increased government revenue hasn’t translated into tangible benefits for the populace, with accusations of inefficiency and corruption in the mix.

Foreign investment, a crucial component of Tinubu’s economic revival plan, has been tepid at best. Despite initial enthusiasm for his reforms, investors remain cautious, deterred by currency instability and interest rates that lag behind inflation.

At the street level, the end of cheap petrol has struck a chord. For many Nigerians, affordable fuel was the only perceived benefit of a government they otherwise viewed with skepticism. The sharp increase in fuel prices, without a gradual phase-out or a crackdown on subsidy-related corruption, has stung deeply.

As for the future, it’s looking uncertain. There’s talk of a quiet reintroduction of subsidies to ease the pressure, but official acknowledgment is nowhere in sight. Meanwhile, the threat of nationwide strikes looms large, with demands for wage increases and better public services gaining momentum.

Nigeria’s journey towards economic reform is a tale of ambition, pain, and lingering questions. As the country grapples with the fallout, the debate rages on: was it worth it? I meannnnnn, probably not.