Binance has added DOGS to its Launchpad as the 57th addition. Binance Launchpad allows the staking of new tokens and is often followed by its trading on the exchange.
The staking period for the Ton meme coin is between August 23 and August 25 before its listing on August 26. Binance allocates 85% of the reward pool to users staking BNB and 15% to those staking FDUSD.
Binance to list DOGS on Aug 26
DOGS is a new meme coin created within the Telegram community. Binance has added DOGS to its Launchpool with the meme coin’s listing scheduled for noon UTC on August 26. The token is the 57th addition to Binance Launchpool with a 3-day staking period between August 23 and August 25. Users can earn the Ton meme coin by staking Binance Coin (BNB) or FDUSD.
85% of the reward pool i.e. 18.7 billion DOGS is allocated to BNB staking while 15% (3.3 billion DOGS) is for FDUSD staking. The exchange also specified that users must complete the ‘Know Your Customer’ (KYC) verification to participate.
Users can earn up to 25,972,222.22 DOGS per hour in the BNB pool and a maximum of 4,583,333.33 DOGS per hour in the FDUSD pool. Over the three days, a total of 22 billion DOGS tokens will be given out as rewards, which makes up 4% of the token supply. DOGS has a fixed supply of 550 billion tokens, with no plans to create additional tokens in the future. Over 72% of these tokens will be given to the community as airdrop.
DOGS noted, “Option to withdraw to Binance is available in the app already,” indicating that there is no lock-in period for the reward tokens. At the time of writing, around $12.5 billion worth of tokens are locked on Binance with $179 million raised across 94 launched projects.
DOGS moves up the trading launch date again
DOGS Community has confirmed that 8 million verified users have requested airdrop of the token to their wallets. Amid the response, the DOGS project has postponed the trading launch date once again. From August 23, the new listing date has been moved to August 26.
The community stated on its Telegram channel, “Though we understand it could be frustrating for some of you, we want to ensure that everyone receives a fair share of time to pick the option of their choice!”
With the trading launch now moved, users can claim their tokens to exchanges or Telegram Wallet until August 23. Non-custodial wallets have until August 26 to claim the tokens. Binance revealed that when DOGS starts trading, 516.75 billion tokens i.e. about 93.95% of the total supply will be in circulation.
Source: https://www.cryptopolitan.com/binance-adds-dogs-to-launchpool/