Binance will launch DOGS on August 26

Binance, the world’s most popular crypto exchange, launched DOGS, the 57th project in its Launchpool amid an increased appetite for the meme coin. Investors can start trading this coin on August 26 at noon UTC.

 

The meme coin DOGS (DOGS), was developed exclusively for the Telegram community and is based on the Open Network (TON) blockchain. The idea creates a lively and engaging environment, utilizing Telegram’s vast user base. In just its first day of operation, DOGS has grown significantly, attracting a substantial user base attracted by the idea of community-focused rewards.

However, far ahead of trading on DOGS, Binance disclosed that a farming phase for the token will begin on August 23 and last for three days.  Site users have the opportunity earning DOGS tokens by staking their FDUSD or BNB tokens. Ton meme coins are available for staking from August 23 to August 25 before its August 26 listing.

Binance gives out 85% to users who stake BNB and 15% to users who stake FDUSD .  The BNB pool allows users to earn up to 25,972,222.22 DOGS per hour, while the FDUSD pool allows users to earn up to 4,583,333.33 DOGS per hour.  Rewards totaling 22 billion DOGS tokens, or 4% of the token supply, will be distributed over three days.

With no intention to create more tokens in the future, DOGS has a fixed supply of 550 billion tokens. The community will get airdrops totaling more than 72% of these tokens. An airdrop of the token to wallets has been requested by 8 million verified users, according to DOGS Community confirmation.

Users can claim their tokens to exchanges or Telegram Wallet till Friday since the trading launch has been rescheduled. The community posted on its Telegram channel, saying, “Though we understand it could be frustrating for some of you, we want to ensure that everyone receives a fair share of time to pick the option of their choice.”. The deadline for redeeming tokens from non-custodial wallets is August 26. According to Binance, 516.75 billion tokens will be traded when DOGS begins active trading on its platform. There will be a circulation of approximately 93%–99% of the total supply.

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ABOUT THE AUTHOR See More
Olumide Adesina
Olumide Adesina
Financial Market Writer
Olumide Adesina is a French-born Nigerian financial writer. He tracks, analyzes, and reports changes in financial markets with over 15 years of working experience in investment trading.
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