Binance has announced the addition of DOGS to its Launchpad, marking the 57th token to be featured on the platform. This new meme coin, created within the Telegram community, is set to debut with a staking period from August 23 to August 25, leading up to its listing on August 26. Here’s a closer look at the key details surrounding DOGS and its upcoming launch.
DOGS, a new meme coin originating from the Telegram community, will be available for staking on Binance Launchpad starting August 23. This staking period will run until August 25, with the token officially listing on Binance at noon UTC on August 26.
Binance has allocated 85% of the reward pool to users staking Binance Coin (BNB) and 15% to those staking FDUSD. The distribution of the reward pool is as follows:
To participate in the staking process, users must complete the ‘Know Your Customer’ (KYC) verification. During the staking period, users can earn up to 25,972,222.22 DOGS per hour from the BNB pool and up to 4,583,333.33 DOGS per hour from the FDUSD pool.
The total reward pool for this staking event comprises 22 billion DOGS, which constitutes 4% of the token’s total supply. DOGS has a fixed supply of 550 billion tokens, with no plans for future creation of additional tokens. Notably, over 72% of the total supply will be distributed to the community through airdrops.
The trading launch date for DOGS has been moved from August 23 to August 26. The DOGS Community confirmed this change, citing the need to ensure all users have a fair opportunity to claim their tokens. This update comes amid strong demand, with approximately 8 million verified users requesting an airdrop to their wallets.
DOGS can be claimed on exchanges or the Telegram Wallet until August 23, while non-custodial wallets have until August 26 to claim their tokens. Upon its trading debut, 516.75 billion DOGS tokens, or about 93.95% of the total supply, will be in circulation.
Binance has also noted that users can withdraw DOGS to their Binance accounts immediately, as there is no lock-in period for the reward tokens. As of now, approximately $12.5 billion worth of tokens are locked on Binance, with $179 million raised across 94 launched projects.
The addition of DOGS to Binance Launchpad and the upcoming trading launch represents a significant milestone for the meme coin and its community. With a substantial portion of the token supply set to be distributed through staking rewards and airdrops, DOGS is positioned to make a notable impact in the cryptocurrency space. As the updated trading date approaches, the DOGS community eagerly anticipates the next steps in this exciting new project.
August 2024, Cryptoniteuae