As a seasoned researcher with years of experience navigating the dynamic landscape of cryptocurrencies, I find the introduction of DOGS by Binance as a significant milestone. Being the first memecoin on Binance’s Launchpool program, it opens up exciting opportunities for both investors and the broader crypto community.
Dogecoin (DOGS) has now been officially included as the 57th project in Binance‘s Launchpool program. Known for being based on the Ton blockchain, DOGS is well-liked within the Telegram community. Its listing on Binance is scheduled for August 26, 2024, making it the first memecoin of its kind to be included in Binance’s Launchpool program.
As a researcher, I’m excited to share that the Launchpool activity allows me to deposit BNB and FDUSD to accrue DOGS tokens. The staking period begins on August 23rd, 2024, and continues for a duration of 72 hours. During this phase, I can securely hold my BNB and FDUSD tokens in separate pools to earn rewards in the form of DOGS.
In summary, there are a grand total of 550 billion DOGS tokens, with 22 billion set aside as Launchpool rewards. This represents around 4% of the entire token supply. Out of these rewards, an impressive 85% will be distributed to BNB coin holders who choose to stake their assets, while the remaining 15% are earmarked for those who stake FDUSD.
Binance to Launch DOGS Trading on August 26 with Four Pairs
Dog trading will commence at 12:00 UTC on August 26, 2024. Binance has made available four trading pairs for this: DOGS/USDT (Tether), DOGS/BNB, DOGS/FDUSD, and DOGS/TRY. This extensive range of trading options is intended to boost the accessibility and trading volume of DOGS across various markets.
The Binance Launchpool initiative is designed to facilitate the launch of new projects by distributing tokens via staking. By utilizing DOGS, this program will expand Binance’s selection and serve as a magnet for drawing interest from the broader cryptocurrency community towards the coin.
As an analyst, I’m observing that the addition of DOGS to Binance’s Launchpool underscores their ongoing expansion and commitment to fostering a thriving ecosystem within the dynamic crypto sector. By participating in this venture, the public can actively support its growth and potentially earn bonus coins. This strategic move reinforces Binance’s significant role in shaping the evolving cryptocurrency market.
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2024-08-21 20:31