Binance has officially introduced DOGS (Dogs) as the 57th project in its Launchpool program. DOGS is a memecoin based on the Ton blockchain and is popular within the Telegram community. It is set to be listed on Binance, with trading expected to commence on August 26, 2024. This marks DOGS as the first of its kind to be featured on Binance’s Launchpool.
The Launchpool activity enables users to stake BNB and FDUSD to receive DOGS tokens. The staking process will commence on 23rd August 2024 and last for 72 hours. At this stage, users can lock their BNB and FDUSD tokens in separate pools to earn DOGS.
The total number of DOGS in circulation is 550 billion tokens, out of which 22 billion will be used as Launchpool rewards. It is approximately 4% of the total token supply. Out of these rewards, 85% will be allocated to the BNB holders who stake their coins, while the remaining 15% of the rewards will be for the FDUSD stakers.
Binance to Launch DOGS Trading on August 26 with Four Pairs
Trading for DOGS will start at 12:00 UTC on August 26, 2024, with four trading pairs available. Specifically, Binance introduced DOGS/USDT (Tether), DOGS/BNB, DOGS/FDUSD, and DOGS/TRY. This wide spread of trading activities should help to increase accessibility and trading of DOGS across the different markets.
Binance Launchpool is a program aimed at helping new projects float by offering token distribution through staking. With the help of DOGS, this program will enrich Binance’s offering and act as a tool for attracting the cryptocurrency community’s attention to the coin.
This listing is evidence of Binance’s continued growth and its dedication to offering support across the wide and diverse crypto space. When DOGS joins the Launchpool, the audience gets a chance to contribute to its development and potentially receive bonus coins. This development further strengthens the position of Binance in the transformation of the crypto market.
