Binance, the world's most prestigious cryptocurrency exchange, has launched the Launchpool for the "Dogecoin" (DOGS) meme coin, where users can farm it with BNB and FDUSD.
In its latest major update, Binance revealed its ambitious plans to launch Dogs (DOGS), a meme coin closely associated with the Telegram community and deeply rooted in the TON blockchain, as the 57th project on Binance Launchpool.
This means that Binance users can use BNB and FDUSD stablecoins to carefully farm DOGS tokens within a specific period of time.
DOGS token issuance pool structure
Starting Friday, August 23, Binance will allow users to harvest DOGS tokens by staking BNB and FDUSD in different pools.
A staggering 72.73% of the total DOGS supply of 550 billion tokens has been reserved for the community through airdrops. In particular, 22 billion DOGS tokens will be supplied through Binance New Coin Pool in just three days. The remaining tokens will be used for development, liquidity, and listing.
Participants will have the ability to mine a specific hourly cap of DOGS tokens for each pool. For the BNB pool, there is a hard cap of approximately 26 million DOGS tokens per user per hour. However, the FDUSD stablecoin pool offers a relatively smaller amount, capped at 4.58 million tokens.
Binance made it clear that participants can claim the accumulated generous rewards at any time and will be able to unstake throughout the mining period. In addition, those who have verified their accounts and hold BNB in certain products will automatically participate in this Launchpool.
DOGS is now available on Binance
Once the farming period is over, the DOGS token will be officially listed for trading at 12:00 (UTC) on Monday, August 26. Available trading pairs will include DOGS/BNB, DOGS/USDT, DOGS/TRY, and DOGS/FDUSD.
Binance strongly supports DOGS airdrop
In conjunction with the three-day DOGS mining event, Binance solemnly announced that it will fully support the airdrop distribution of DOGS tokens. This means that users who provide a Binance wallet to receive the DOGS airdrop will receive generous rewards from the Binance spot wallet.
It is particularly noteworthy that as many as 42.2 million users are eligible for airdrops, and each user can receive an average of 9,500 DOGS. However, it should be noted that users in countries such as the United States, Canada, and Japan cannot participate in this event. The participation rules are extremely strict and need to be managed according to the location.
Binance’s support for DOGS comes after the Toncoin (TON) ecosystem has shown significant growth. The ecosystem is showing extremely good market trends, driven strongly by increasing activity.
Toncoin activity growth
Along with the DOGS issuance pool, activity on the TON blockchain that supports the DOGS token continues to rise sharply.
According to recent reports, the number of active addresses on the TON Masterchain has reached new heights, with 946 addresses actively participating every day. This stunning surge demonstrates a significant increase in network usage since 2021, with more users participating in transactions and decentralized applications across the TON ecosystem.
Toncoin has also been showing quite a strong momentum in the cryptocurrency market. Recently, its value has risen by 16% in 14 days to $6.68. Analysts are closely watching Toncoin’s approach to a key resistance level, believing that continued momentum could push the token’s price higher, with some analysts even setting a target price of around $10.
