Top Crypto Exchange Binance Lists New Memecoin DOGS Created by Telegram Community

In a new announcement, Binance says it is listing Dogs (DOGS), a memecoin on the layer-1 blockchain The Open Network (TON).

Binance, the world's largest crypto exchange by trading volume, is adding support for a new memecoin that was created out of the Telegram messaging platform community. According to an announcement on Monday, Binance will list Dogs (DOGS), a memecoin on The Open Network (TON) blockchain, a layer-1 blockchain protocol.

Beginning on August 23rd, Binance will list and feature DOGS on the Binance Launchpool, a platform that enables users to stake coins in order to farm new assets. Following this, Binance will list the asset for trade on August 26th.

The announcement from Binance reads as follows:

“DOGS is designed to leverage Telegram’s vast user base and native meme culture. Centered around a beloved dog mascot originally drawn by Telegram's founder, Dogs aims to introduce millions of people to blockchain through the app and tokenized stickers, fostering a fun and engaging ecosystem with a focus on community ownership and fair rewards distribution.”

According to Binance, there will be a total supply of 550,000,000,000 for the memecoin, out of which 516,750,000,000 will be in circulation, accounting for roughly 94% of the total token supply.

Binance will also attach a "seed tag" to the memecoin, which the exchange uses to denote lower-liquidity projects that may experience higher volatility compared to other listed tokens.

For assets with seed tags, Binance requires their owners to pass periodic quizzes every 90 days to ensure that they are aware of the risks involved before trading the tokens.

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