- Leading international cryptocurrency exchange Binance is starting to support a brand-new memecoin that was developed by users of the Telegram messaging app.
Binance has announced that it would be listing Dogs (DOGS), a memecoin, on The Open Network (TON), a layer-1 blockchain.
On August 23, Binance will feature DOGS for the first time in the Launchpool, which allows users to stake coins to farm new assets. On August 26th, Binance intends to list the asset for trading.
The purpose of DOGS is to take use of Telegram’s enormous user base and native meme culture. DOGS, which is centered around a well-liked dog mascot that was first created by the inventor of Telegram, seeks to introduce blockchain to millions of users through the app and tokenized stickers while promoting an enjoyable and interesting ecosystem with an emphasis on community ownership and equitable reward distribution.
As per Binance, there is a 550,000,000,000 DOGS total supply, of which 516,750,000,000 will be in circulation, or around 94% of the entire token supply.
Binance plans to affix a seed tag to DOGS, a feature that it applies to less liquid projects that can have more volatility than other tokens on the list.
In order to make sure users are informed of the dangers before trading the tokens, Binance compels users who possess assets with seed tags to complete quizzes every ninety days.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
