- DOGS completes airdrop, plans token burn with community vote to potentially raise market value by reducing supply.
- Community involvement central to DOGS strategy; token holders to vote on charity donations and token burn quantities.
DOGS, the memecoin linked to the Telegram, has concluded its airdrop and is transitioning to a token burn phase. This involves a community-led decision on the quantity of tokens to be withdrawn from circulation.
A community spokesperson stated, “Incorporating community input in the token burn process aligns the future of $DOGS with the values of its supporters.” This emphasizes the project’s commitment to community engagement in its operational decisions.
“Our community is the backbone of DOGS. By involving them directly in the token burn decision, we ensure that the future of $DOGS aligns with the interests of those who believe in our mission,” the DOGS community representative stated.
Moreover, the DOGS initiative plans to allocate a portion of its tokens to charitable organizations, a decision also governed by community vote. The project has previously contributed over $300,000 to various charitable causes including Save the Children and Animal Charity Evaluators.
The upcoming vote will determine the beneficiaries of this round of donations, allowing token holders to direct funds according to their priorities.
Since its inception, DOGS has garnered attention, quickly becoming a focal point on various social media platforms and achieving a milestone as the fastest token to attract 17 million claimants.
The token was inspired by Pavel Durov’s dog, Spotty, and has been integrated within the Telegram ecosystem, providing real utility. It operates on the TON blockchain, rewarding users for their engagement and tenure on the platform.
The DOGS project has a capped supply of 550 billion coins, with 81.5% allocated directly to the community. Specifically, 73% of the total supply is reserved for long-standing Telegram users, while the remainder is distributed among active traders and new community members.
Additionally, 10% of the total supply is earmarked for future development and is locked in a 12-month vesting schedule. The project also dedicates 8.5% of its supply to enhance liquidity on various exchanges, supporting both centralized and decentralized trading platforms.
For investors, the imminent token burn event that may bolster the token’s value, providing a potential advantage for long-term holders. With the completion of the airdrop, new investors might find a strategic entry point into the market, marking a phase in the token’s lifecycle.
