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Key points:
DOGS is a dog-related meme coin built on The Open Network (TON) blockchain, inspired by the character Spotty.
The coin has a total supply of 550 billion tokens, of which over 516 billion are already in circulation. They were distributed mainly among Telegram users based on their activity.
DOGS gained significant popularity due to its launch on the Binance Launchpool, but as with other meme coins, trading DOGS comes with risks of uncertainty and volatility.
DOGS meme coin
Similar to other dog-related coins such as Dogecoin and Shiba Inu, DOGS is also a dog-inspired meme coin. Built on The Open Network (TON) blockchain, DOGS takes its identity from Spotty, a character associated with Telegram founder Pavel Durov.
Durov created Spotty as a simple dog sticker that was used in a charity auction to support orphanages. Soon after, Spotty became a popular figure in the crypto space.
Token Metrics (Dog Economy)
DOGS has a total supply of 550 billion tokens, of which 516.75 billion are in circulation (as of September 2024). The coin distribution strategy was to airdrop DOGS tokens to users based on their activity and interactions on the Telegram platform.
According to the official DOGS Telegram page:
81.5% of the total offering will be allocated to the community with no vesting periods or lock-ups. Of the 81.5%, 73% were received by long-term Telegram users who earned DOGS for completing tasks and activities in the mini-program. The other 8.5% is allocated to reward sticker creators, traders and future community members.
10% is allocated to the DOGS team and future development of the project, preferably with a 12-month vesting 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 premium subscription. The approach was to combine the meme coin culture with Telegram's user base for wider adoption.
On average, each eligible user received about 9,500 DOGS, and by August 20, more than 400 billion DOGS tokens had been distributed.
How to get DOGS airdrop?
The last day to earn DOGS tokens from the first airdrop was August 14, 2024. Eligible users who participated in DOGS games and Telegram activities before the deadline can still receive their DOGS airdrop via the official DOGS bot on Telegram.
Eligible users can get 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 airdrops in the future.
Market presence
DOGS managed to reach 1 million users on Telegram in less than 24 hours and become one of the top 100 cryptocurrencies by market capitalization (as of September 2024). However, as with many other meme coins, its value and long-term sustainability remain a matter of speculation.
Binance Launchpool
On August 21, 2024, DOGS was introduced to the Binance Launchpool where users could earn DOGS tokens by staking their BNB or FDUSD. This launch gave DOGS additional exposure and liquidity through the largest cryptocurrency exchange in the world.
Results
DOGS is a meme coin that is linked to the Telegram platform and combines elements of charity, cryptocurrency and meme culture. It has attracted attention due to its listing on the Binance Launchpool and the unique way it distributes tokens.
However, like most meme coins, DOGS can be quite unpredictable, so anyone thinking of investing 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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