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Key Points
DOGS is a dog-themed meme coin operating on The Open Network (TON) blockchain, inspired by a dog character named Spotty.
The total supply of DOGS is 550 billion, of which more than 516 billion are in circulation, mainly distributed to Telegram users based on activity.
DOGS has gained a lot of attention following its launch on Binance Launchpool, but like other memecoins, trading DOGS also carries the risk of uncertainty and volatility.
DOGS Meme Coin
DOGS is a dog-themed meme coin similar to other dog-themed coins such as Dogecoin and Shibacoin. Developed on the The Open Network (TON) blockchain, DOGS is inspired by Spotty, a dog character associated with Telegram founder Pavel Durov.
Spotty became a cryptocurrency sensation soon after Durov created it as a simple dog sticker that was used in a charity auction to support an orphanage.
Token Metrics (DOGS Token Economics)
The total supply of DOGS tokens is 550 billion, of which the circulating supply is 516.75 billion (as of September 2024). According to the DOGS distribution strategy, the token will be airdropped to users based on their activity and participation on the Telegram platform.
According to the DOGS official Telegram channel:
81.5% of the total supply will be allocated to the community without any lock-up period. Of this 81.5% supply, 73% is allocated to Telegram veteran users who can earn DOGS tokens through mini-program tasks and activities. The remaining 8.5% is used to reward sticker creators, traders, and future community members.
10% of the total supply is allocated to the DOGS team and future project development, most of which have a 12-month lockup period.
8.5% of the total supply is used to provide liquidity or other liquidity-related activities on centralized and decentralized exchanges.
DOGS Airdrop
The DOGS airdrop takes into account many factors, such as the age of the user's Telegram account, activity, and whether they are Telegram Premium subscribers. This approach aims to combine the memecoin culture with Telegram's large user base to achieve widespread use of DOGS tokens.
As of August 20, the average number of DOGS tokens received by each eligible user was approximately 9,500, with a total of more than 400 billion DOGS tokens distributed.
How to claim DOGS airdrop?
Users can earn DOGS tokens through the first round of airdrops until and including August 14, 2024. Eligible users who participated in DOGS games and Telegram events before this deadline can still claim DOGS airdrops through the official DOGS Telegram bot.
Eligible users can choose to claim DOGS on-chain with zero fees (slower process) or a small fee (faster withdrawal).
As of September 3, 2024, no official announcement has been made as to whether new airdrops will be conducted in the future.
Market influence
DOGS managed to attract 1 million Telegram users in less than 24 hours of its launch, and has successfully entered the top 100 cryptocurrencies by market capitalization (as of September 2024). However, like many memecoins, there is still a lot of uncertainty about its value and long-term sustainability.
Binance Launchpool
On August 21, 2024, DOGS was launched on Binance Launchpool, where users can earn DOGS tokens by staking their BNB or FDUSD. By listing on the world's largest cryptocurrency exchange, DOGS has gained more exposure and higher liquidity.
Conclusion
DOGS is a meme coin with deep ties to the Telegram platform, combining elements of charity, cryptocurrency, and meme culture. DOGS has attracted much attention due to its listing on Binance Launchpool and its unique token distribution method.
However, like most meme coins, DOGS can be difficult to predict, so anyone interested in investing in DOGS should be aware of the risks involved with this token. Please do your own research and invest rationally within your means.
Further reading
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