Telegram-Linked DOGS Ends Airdrop, Prepares for Token Burn

By admin On Sep 25, 2024

Telegram-linked project DOGS is finishing its airdrop this week, with the last tokens being claimed. So far, over 380 billion tokens have been distributed to more than 20.5 million users.

With the airdrop coming to a close, DOGS is now preparing for a token burn, where the community will vote on how many tokens to remove from circulation.

DOGS Prepares for the Next Step

The token burn, aimed at reducing the total supply of DOGS, could help boost its value. Token holders will vote on how many unclaimed coins to permanently remove from circulation.

“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.

In addition to the burn, the project will donate a portion of tokens to charity, with the community deciding which organizations receive the funds. DOGS has already donated over $300,000 to causes like Save the Children and Animal Charity Evaluators, and the upcoming vote will give holders another opportunity to ensure the donations reflect their values and priorities.

This move follows DOGS’ impressive growth, including setting a record for the fastest token launch to reach 17 million claimers. The coin, inspired by Telegram founder Pavel Durov’s dog, Spotty, gained massive attention shortly after its launch. It quickly became a trending topic on social media and saw a surge in user numbers, as well as listings on several major exchanges.

Unlike other meme coins, DOGS offers real utility within the Telegram ecosystem. Built on TON blockchain, it rewards long-time and active Telegram users based on account age and activity.

The project operates with a fixed supply of 550 billion coins, allocating 81.5% directly to the community. Of this, 73% is reserved for long-term Telegram users, while the rest is available to traders and new community members.

The team has set aside 10% of the supply for future developments, with most of these tokens locked in a 12-month vesting period. Additionally, they have allocated 8.5% to increase liquidity on centralized and decentralized exchanges and support listing activities.

For investors, the upcoming token burn could be a significant event. Reducing the total supply may support the token’s price, potentially benefiting long-term holders. With the airdrop ending, new buyers might find a favorable opportunity to enter the market at a key moment.

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