The creators of The Dogs (DOGS), the most popular meme token on The Open Network, will burn the coins after the airdrop.
On September 23, The Dogs developers finished sending over 380 billion tokens to the participants of the promotion. The digital assets were received by over 20 million clients of centralized exchanges and users of the Telegram Wallet crypto wallet, integrated into the Telegram messenger.
However, members of the crypto community did not apply for the issuance of 17.8 billion DOGS worth about $15 million. In this regard, representatives of the startup invited subscribers of the Telegram channel to decide the fate of the tokens and launched a vote on this issue. As a result, the coins will be distributed as follows:
6 billion DOGS will be allocated for charity events;
7 billion DOGS will be retained for the development of the project;
4.8 billion DOGS will be destroyed.
The tokens allocated for charity and startup development are going to be transferred to new owners within a year, so as not to rush with the selection of candidates. The creators of the cryptocurrency have already provided financial support to charities helping children and animals. At the same time, the exact date of burning DOGS coins has not yet been disclosed.
The airdrop, during which people received a huge amount of DOGS tokens, had a negative impact on the asset’s rate, as expected. Over the past week, The Dogs’ price has fallen by 11%. However, on Monday, the coin’s value bottomed out at $0.00081 and began to rise. For this reason, the cryptocurrency will most likely be able to regain its lost ground in the near future.
DOGS rate change over the past week.
