Binance, the world’s leading cryptocurrency exchange, is rolling out support for a new memecoin created from the Telegram messaging platform’s community.
In a new announcement, Binance announces the listing of Dogs (DOGS), a memecoin on the layer-1 blockchain The Open Network (TON).
Binance will first list DOGS on August 23 in the Binance Launchpool, which allows users to stake coins to farm new assets. Binance then plans to list the asset for trading on August 26.
Binance states:
“DOGS is designed to leverage Telegram’s vast user base and native meme culture. Centered around a beloved canine mascot originally designed by Telegram’s founder, DOGS aims to introduce blockchain to millions of people through the app and tokenized stickers, fostering a fun and engaging ecosystem focused on community ownership and fair distribution of rewards.”
According to Binance, the total supply of DOGS is 550,000,000,000 while the circulating supply will be 516,750,000,000, which is approximately 94% of the total token supply.
Binance will assign a seed tag to DOGS, which the exchange will apply to low-liquidity projects that may exhibit higher volatility compared to other listed tokens.
Binance requires users who own assets with seed tags to take quizzes every 90 days to ensure they are aware of the risks before trading the tokens.
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