Something tells me to be patient and ignore all the depressing noise. patience is the key. šāØ $DOGS
Binance Academy
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What Is Telegram's Meme Coin DOGS?
Disclaimer: This article is for educational purposes only. The information provided through Binance does not constitute advice or recommendation of investment or trading. Binance does not take responsibility for any of your investment decisions. Please seek professional advice before taking financial risks.
Key Takeaways
DOGS is a dog-themed meme coin built on The Open Network (TON) blockchain, inspired by a dog character called Spotty.
The coin has a total supply of 550 billion tokens, with over 516 billion already in circulation, distributed mainly to Telegram users based on their activity.
DOGS gained significant exposure through its launch on Binance Launchpool, but like other meme coins, trading DOGS involves uncertainty and volatility risks.
DOGS Meme Coin
Similar to other dog-themed coins like Dogecoin and Shiba Inu, DOGS is a dog-themed meme coin. Developed on The Open Network (TON) blockchain, DOGS draws its identity from Spotty, a character linked to Telegram's founder, Pavel Durov.
Durov created Spotty as a simple dog sticker used in a charity auction to support orphanages. Soon after that, Spotty grew into a popular figure in the crypto space.
Token Metrics (Dogenomics)
DOGS has a total supply of 550 billion tokens, of which 516.75 billion are in circulation (as of September 2024). The coinās distribution strategy involved DOGS tokens being airdropped to users based on their activity and engagement on the Telegram platform.
According to the official DOGS Telegram:
81.5% of the total supply will be allocated to the community without any vesting periods or locks. Out of the 81.5%, 73% went to Telegram OGs who earned DOGS through the mini-app tasks and activities. The other 8.5% is allocated to rewards for sticker creators, traders, and future community members.
10% is allocated for the DOGS team and future project development, mostly with a 12-month vesting period.
8.5% is reserved for liquidity on centralized and decentralized exchanges or other liquidity-related events.
DOGS Airdrop
The DOGS airdrop considered factors like the age and activity of Telegram accounts and whether they had a Telegram Premium subscriptionā. The approach aimed to combine the meme coin culture with Telegramās user base for wider adoption.
On average, each eligible user received around 9,500 DOGS, with more than 400 billion DOGS tokens distributed by August 20.
How to Claim the DOGS Airdrop?
The last day to earn DOGS tokens from the initial airdrop was August 14, 2024. Eligible users who participated in the DOGS games and Telegram activities before the deadline can still claim their DOGS airdrop via the official DOGS Telegram bot.
Eligible users can choose to claim their DOGS on-chain without fees (slower process) or with a small fee (faster withdrawal).
As of September 3, 2024, there is no official information about the possibility of new airdrops in the future.
Market Presence
DOGS managed to achieve 1 million Telegram users in less than 24 hours and is ranking among the top 100 cryptocurrencies by market capitalization (as of September 2024). However, like many meme coins, its value and long-term sustainability remain subjects of speculation.
Binance Launchpool
On August 21, 2024, DOGS was introduced on the Binance Launchpool, where users could earn DOGS tokens by staking their BNB or FDUSD. This launch provided DOGS with additional exposure and liquidity through the largest cryptocurrency exchange in the world.
Closing Thoughts
DOGS is a meme coin with deep connections to the Telegram platform, mixing elements of charity, crypto, and meme culture. It has gained attention thanks to its listing on Binance Launchpool and its unique way of distributing tokens.
However, like most meme coins, DOGS can be pretty unpredictable, so anyone thinking about investing should be aware of the risks involved. Do your own research and never invest more than you can afford to lose.
Further Reading
What Are Meme Coins?
Your Guide to Binance Launchpad and Launchpool
What Is Dogecoin?
What Is Shiba Inu (SHIB)?
Disclaimer: This content is presented to you for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.
Beware of market noise!! Don't believe what people you don't know say and make your own decisions.
They are only active to make the market flounder and spread panic. When their news is negative towards a specific currency, their goal is to make you afraid and sell at a loss so that they can buy and make profits from your loss. When their news is positive towards a specific currency, their goal is to make you buy at a high price so that they can sell what they have.
Don't let them discourage you and follow your intuition and knowledge.
My advice to you is to block everyone you don't know who is spreading lies. You will know them because they are spreading the same news and even the same words, just copy and paste. $DOGS
Binance Addresses Account Misuse in Commitment to Uphold Compliance and Market Integrity
This is a general announcement. Products and services referred to here may not be available in your region. Fellow Binancians, We have recently detected instances where certain account features on our platform are being misused or exploited to gain unfair advantages, such as a better fee rate and higher API limits over other users. Binance is committed to taking the necessary steps to ensure compliance, protect users, and maintain market integrity. We believe these are essential to reinforcing confidence in our exchange platform and the broader digital assets market. Our aim is to foster a healthy and sustainable market environment that always prioritizes the interests of all users. That is why we have decided to take firmer action against the misuse of accounts. Stricter Measures to Address Account Misuse Our platform offers various account types, including sub-accounts, managed sub-accounts, and fund manager accounts, which all play an important role in diverse genuine use cases. However, these features also have the potential to be misused by bad actors that seek to circumvent our controls to either access or sell access to a better fee rate and higher API limits. We consider any behavior involving unauthorized access to other users' accounts as a serious breach of our Terms of Use and KYC/KYB policy. Aside from being harmful to the fairness and efficiency that users expect from reputable platforms like Binance, such behavior detrimentally impacts the experience and diminishes the contributions of the overwhelming majority of users who play by the rules. To ensure our account features are not being misused, we have further enhanced the monitoring of all account usage and related activities. We will investigate all potential or suspected incidents of misuse and, if necessary, take action that we consider appropriate to remedy misuse, which may include, but not limited to, suspension or termination of the relevant accounts. As the industry leader, we take seriously our responsibility to lead the way - to ensure that we meet the highest compliance standards and to provide a level and fair playing field for all users. These efforts are crucial to further enhancing and safeguarding the integrity of our platform. Reward for Reporting Misuse In addition to technological enhancements, we are also establishing a channel for users to report any account misuse incidents they encounter (e.g., unauthorized selling of access to accounts). Individuals that observe or suspect any cases of misuse are encouraged to report it to us. We will provide a reward for any verified case of account misuse. The reward amount will be determined on a case by case basis. Your support can make a significant impact and help improve our platform. If you would like to report a case of account misuse, please send an email to [email protected]. Together, we can ensure a compliant, fair and efficient platform for all. Thank you for your support! Binance Team 2024-06-27
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