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Key points
DOGS is a meme coin created on The Open Network (TON) blockchain in honor of a dog character named Spotty.
The total supply of the coin is 550 billion tokens, of which over 516 billion are already in circulation. They are distributed mainly among Telegram users based on their activity.
DOGS has gained significant publicity due to its launch on Binance Launchpool, but like other meme coins, trading DOGS comes with risks of uncertainty and volatility.
DOGS Meme Coin
DOGS is a dog-themed meme coin similar to other similar coins like Dogecoin and Shiba Inu. The coin is based on The Open Network (TON) blockchain and is named after the character Spotty, who is associated with Telegram founder Pavel Durov.
Durov created Spotty as a simple sticker used at a charity auction to support orphanages. Soon after, Spotty became a popular character in the crypto space.
Token Metrics (Dogenomics)
The total supply of DOGS is 550 billion tokens, of which 516.75 billion are in circulation (as of September 2024). The distribution strategy for DOGS was to airdrop tokens to users based on their activity on the Telegram platform.
According to a post on the official DOGS Telegram channel:
81.5% of the total circulation will be allocated to the community without any blocking periods, with 73% going to old Telegram users who earned DOGS by completing tasks and activities in mini-apps. The remaining 8.5% will be allocated to reward sticker creators, traders, and future community members.
10% is allocated to the DOGS team and development of future projects, mostly with a 12 month unlock period.
8.5% is reserved for liquidity on centralized and decentralized exchanges or other liquidity related events.
Airdrop DOGS
The DOGS airdrop took into account factors such as the age and activity of Telegram accounts, as well as whether they had a Telegram Premium subscription. The goal of this approach was to combine the meme coin culture with Telegram's user base for wider adoption.
On average, each eligible user received around 9,500 DOGS, and as of August 20, over 400 billion DOGS tokens had been distributed.
How to get DOGS airdrop?
The last day to earn DOGS tokens from the initial airdrop is August 14, 2024. Eligible users who participated in DOGS games and Telegram activities before the deadline can still claim the DOGS airdrop via the official DOGS Telegram bot.
Users can choose to receive their DOGS on-chain with no fees (slower process) or with a small fee (faster withdrawal).
As of September 3, 2024, there is no official information about future airdrops.
Market presence
DOGS managed to reach 1 million Telegram users in less than 24 hours and enter the top 100 cryptocurrencies by market cap (as of September 2024). However, as with many meme coins, the token’s value and long-term sustainability remain a matter of speculation.
Binance Launchpool
On August 21, 2024, DOGS was added to the Binance Launchpool, where users could earn DOGS tokens by staking BNB or FDUSD. This launch provided DOGS with an additional marketplace and liquidity on the world's largest cryptocurrency exchange.
In conclusion
DOGS is a meme coin closely associated with the Telegram platform, combining elements of charity, cryptocurrency, and meme culture. It has gained attention due to its listing on Binance Launchpool and the unique way it distributes tokens.
However, like most meme coins, DOGS can be quite unpredictable, so it is important to consider all the risks involved before investing. Do your own research and only invest what you are willing to lose.
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