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Top global crypto exchange Binance is rolling out support for a new memecoin that was created out of the messaging platform Telegram community.
In a new announcement, Binance says it is listing Dogs (DOGS), a memecoin on the layer-1 blockchain The Open Network (TON).
Binance will first list DOGS on August 23rd in the Binance Launchpool, which lets users stake coins to farm new assets. Binance then plans to list the asset for trade on August 26th.
Says Binance,
“DOGS is designed to leverage Telegram’s vast user base and native meme culture. Centered around a beloved dog mascot originally drawn by Telegram’s founder, DOGS aims to introduce millions of people to blockchain through the app and tokenized stickers, fostering a fun and engaging ecosystem with a focus on community ownership and fair rewards distribution.”
According to Binance, the total supply of DOGS is 550,000,000,000 while the circulating supply will be 516,750,000,000, about 94% of the total token supply.
Binance will attach a seed tag to DOGS, which the exchange applies to lower-liquidity projects that may exhibit higher volatility compared to other listed tokens.
Binance requires users who own assets with seed tags to pass quizzes every 90 days to ensure they’re aware of the risks before trading the tokens.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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