Disclaimer: This article is for educational purposes only. The information provided through Binance does not constitute advice or recommendation of investment or trading. Binance does not take responsibility for any of your investment decisions. Please seek professional advice before taking financial risks.
Key Takeaways
DOGS is a dog-themed meme coin built on The Open Network (TON) blockchain, inspired by a dog character called Spotty.
The coin has a total supply of 550 billion tokens, with over 516 billion already in circulation, distributed mainly to Telegram users based on their activity.
DOGS gained significant exposure through its launch on Binance Launchpool, but like other meme coins, trading DOGS involves uncertainty and volatility risks.
DOGS Meme Coin
Similar to other dog-themed coins like Dogecoin and Shiba Inu, DOGS is a dog-themed meme coin. Developed on The Open Network (TON) blockchain, DOGS draws its identity from Spotty, a character linked to Telegram's founder, Pavel Durov.
Durov created Spotty as a simple dog sticker used in a charity auction to support orphanages. Soon after that, Spotty grew into a popular figure in the crypto space.
Token Metrics (Dogenomics)
DOGS has a total supply of 550 billion tokens, of which 516.75 billion are in circulation (as of September 2024). The coinâs distribution strategy involved DOGS tokens being airdropped to users based on their activity and engagement on the Telegram platform.
According to the official DOGS Telegram:
81.5% of the total supply will be allocated to the community without any vesting periods or locks. Out of the 81.5%, 73% went to Telegram OGs who earned DOGS through the mini-app tasks and activities. The other 8.5% is allocated to rewards for sticker creators, traders, and future community members.
10% is allocated for the DOGS team and future project development, mostly with a 12-month vesting period.
8.5% is reserved for liquidity on centralized and decentralized exchanges or other liquidity-related events.
DOGS Airdrop
The DOGS airdrop considered factors like the age and activity of Telegram accounts and whether they had a Telegram Premium subscriptionâ. The approach aimed to combine the meme coin culture with Telegramâs user base for wider adoption.
On average, each eligible user received around 9,500 DOGS, with more than 400 billion DOGS tokens distributed by August 20.
How to Claim the DOGS Airdrop?
The last day to earn DOGS tokens from the initial airdrop was August 14, 2024. Eligible users who participated in the DOGS games and Telegram activities before the deadline can still claim their DOGS airdrop via the official DOGS Telegram bot.
Eligible users can choose to claim their DOGS on-chain without fees (slower process) or with a small fee (faster withdrawal).
As of September 3, 2024, there is no official information about the possibility of new airdrops in the future.
Market Presence
DOGS managed to achieve 1 million Telegram users in less than 24 hours and is ranking among the top 100 cryptocurrencies by market capitalization (as of September 2024). However, like many meme coins, its value and long-term sustainability remain subjects of speculation.
Binance Launchpool
On August 21, 2024, DOGS was introduced on the Binance Launchpool, where users could earn DOGS tokens by staking their BNB or FDUSD. This launch provided DOGS with additional exposure and liquidity through the largest cryptocurrency exchange in the world.
Closing Thoughts
DOGS is a meme coin with deep connections to the Telegram platform, mixing elements of charity, crypto, and meme culture. It has gained attention thanks to its listing on Binance Launchpool and its unique way of distributing tokens.
However, like most meme coins, DOGS can be pretty unpredictable, so anyone thinking about investing should be aware of the risks involved. Do your own research and never invest more than you can afford to lose.
Further Reading
Disclaimer: This content is presented to you for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.
