The world’s largest cryptocurrency exchange, Binance, is adding support for a new meme coin created by the community of messaging platform Telegram.
Binance has announced that it will list the meme coin Dogs (DOGS) on its Layer 1 blockchain, The Open Network (TON).
Binance will first list DOGS on Binance Launchpool on August 23, allowing users to farm the new asset by staking their coins. Binance then plans to list the asset for trading on August 26.
Binance says:
“DOGS is designed to leverage Telegram’s massive user base and native meme culture. Centered around the beloved dog mascot originally drawn by the founder of Telegram, DOGS aims to introduce blockchain to millions of people through an app and tokenized stickers, while fostering a fun and engaging ecosystem focused on community ownership and fair reward distribution.”
According to Binance, the total supply of DOGS is 550,000,000,000, with a circulating supply of 516,750,000,000, which is approximately 94% of the total token supply.
Binance will be adding a seed tag to DOGS, which is a tag applied to projects with low liquidity that may exhibit higher volatility compared to other tokens listed on the exchange.
Binance requires users who own assets with seed tags to pass a quiz every 90 days to ensure they are aware of the risks before trading tokens.
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