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basic ideas
DOGS is a dog-themed meme coin built on the Token Open Network (TON) blockchain, inspired by a dog named Spotty.
The total supply of the coin is 550 billion tokens, with over 516 billion already in circulation, and they are distributed primarily to Telegram users based on their activity.
DOGS gained significant exposure by launching on the Binance Launchpad, but like other meme coins, trading DOGS involves risks of uncertainty and volatility.
Meme Coin (DOGS)
Similar to other dog-themed coins like Dogecoin and Shiba Inu, DOGS is a meme coin that is themed around dogs. Developed on the The Open Network (TON) blockchain, DOGS derives its identity from the character Spotty, a character associated with Telegram founder Pavel Durov.
Durov created Spotty as a simple dog sticker used in a charity auction to support orphanages. Soon after, Spotty evolved into a popular cryptocurrency character.
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 coin's distribution strategy involved having decentralized DOGS tokens airdropped to users based on their activity and engagement on the Telegram platform.
According to the official DOGS Telegram:
81.5% of the total stock will be allocated to the community with no vesting or hold periods. Of this 81.5%, 73% will go to long-time Telegram users who earned DOGS through mini-app tasks and activities. The remaining 8.5% will be allocated to rewards for traded sticker creators and future community members.
10% is allocated to the DOGS team and future project development, and usually has a vesting period of 12 months.
8.5% is reserved for liquidity on centralized and decentralized exchanges or other liquidity-related events.
Free DOGS Distribution
The free DOGS distribution takes into account factors such as the age of the Telegram account, its activity, and whether it has a Telegram Premium subscription. This approach aims to combine the meme coin culture with Telegram’s user base for wider adoption.
On average, each eligible user received around 9,500 DOGS, with over 400 billion DOGS tokens distributed on August 20.
How to Claim Your Share in the Free DOGS Distribution
The last day to earn DOGS tokens from the initial free distribution was August 14, 2024. Eligible users who participated in DOGS games and Telegram activities before the deadline can still claim their share of the Telegram free distribution via the DOGS Telegram bot.
Eligible users can choose to claim 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 the possibility of new free distributions in the future.
Market presence
DOGS has reached 1 million users on Telegram in less than 24 hours and is ranked among the top 100 cryptocurrencies by market cap (as of September 2024). However, like many meme coins, its long-term value and sustainability remain a matter of speculation.
Binance Launchpad
On August 21, 2024, DOGS was introduced on the Binance Launchpad, where users can earn DOGS tokens by staking BNB or FDUSD. This launch provided DOGS with more exposure and liquidity through the world’s largest cryptocurrency exchange.
Closing thoughts
DOGS is a meme coin with a deep connection to the Telegram platform, as it blends elements of charity, cryptocurrency, and meme coin culture. It has gained attention thanks to its listing on the Binance Launchpad and its unique way of distributing tokens.
However, like most meme coins, DOGS can be highly unpredictable, and so anyone about to invest in it should be aware of the risks involved. Do your own research and never invest more than you can afford to lose.
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