Doodles Launches Its $DOOD Token on Solana, Binance Futures Also Lists Perpetual Contracts

A few hours ago, Doodles announced the upcoming launch of their token $DOOD on Solana on May 9. This is just another highlight

A few hours ago, Doodles announced the upcoming launch of their token $DOOD on Solana on May 9. This is just another highlight of Solana’s increasing pull for major NFT and meme coin projects seeking high liquidity and strong network effects.

Adding immediate visibility, Binance Futures also announced it will list $DOOD perpetual contracts shortly after the launch.

$DOOD Launch Details: Supply, Allocation, and Airdrop

Based on details shared in a Doodles X post back in February, $DOOD will launch with a supply of 10 billion on Solana, with 68% of that to be allocated to the community. This is then divided into 30% to existing Doodles NFT holders, 25% to the ecosystem fund for growth and development, and 13% to partner communities, including Bonk, Solana Mobile, and Helius.

The launch of the Doodles token is set for May 9 on Solana, with the token generation event to take place at 9 am Eastern Time. The total supply of the token is 10 billion, and it will be distributed among various parties, with 68% allocated to the community.

Out of the total supply, 3 billion tokens will go to the ecosystem fund, 2.5 billion tokens to partner communities, and 3 billion tokens to Doodles NFT holders who can claim their tokens starting 77 days after the token generation event. The partner communities include Bonk, Solana Mobile, and Helius, while the ecosystem fund will be used for the growth and development of the Doodles ecosystem.

Those eligible participants can claim their airdropped tokens within 77 days following the Token Generation Event (TGE).

Binance Futures Listing Adds Trading Options

Also, in anticipation of the launch, Binance announced the listing of $DOOD on its Futures platform and Binance Alpha, offering up to 50x leverage.

Being the first platform to announce the $DOOD listing, Binance users who reach the Alpha Points requirement will receive their DOOD airdrop within 10 minutes of trading commencement. This listing is expected to increase the token’s visibility and provide trading opportunities for investors.

Doodles’ Evolution and Solana’s Ecosystem Strength

Doodles first emerged in 2021 as a collection of 10,000 hand-drawn NFT collection by artist Burnt Toast. Over time, it has evolved into a multimedia brand encompassing music, fashion, and digital identity. The introduction of $DOOD in a way signifies Doodles’ transition from static collectibles to a dynamic, utility-driven platform within the Web3 space.

The launch of $DOOD also reinforces Solana’s position as a preferred platform for meme coins and NFT projects, potentially attracting even more developers and users to its ecosystem.

Solana’s infrastructure has become a fertile ground for meme coins, with projects like Bonk, Solaxy, and Fartcoin gaining traction. Platforms such as Pump and CoinFactory have simplified the creation and launch of meme tokens, contributing to a surge in daily token launches on Solana. Even Solaxy, Solana’s first Layer 2 meme coin, raised nearly $30 million in its presale.

As it stands now, Solana’s low transaction costs and high throughput will continue to make it an attractive option for NFT projects and meme coins that seek to broaden their user base.

News data source: kdj.com

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