What Is Dogecoin20(DOGE20): Everything You Need To Know About It
Dogecoin20($DOGE20) is built on the Ethereum network as an ERC-20 token and is a new member of dog-related meme coin. It pays homage to the iconic Dogecoin while bringing fresh change to the world of meme coin by offering exciting staking features that give buyers the opportunity to get in on the action and earn passive income.
In this article, we will give a detailed introduction to the DOGE20 coin and analyze its future prospects.
BTCC offers a variety of meme coin contracts, and if you’re interested, you can sign up for BTCC to make a purchase.
＼Deposit and Receive Up to 10,055 USDT!／
Table of Contents
What Is The Difference Between DOGE20 And Dogecoin?
DOGE20 Price Prediction And Future Outlook
What Is Dogecoin20(DOGE20)?
Dogecoin20 (DOGE20) is an ERC-20-based token that aims to be an upgraded version of Dogecoin, offering enhanced features and a new staking infrastructure for passive income. The “20” in Dogecoin20 stands for “ERC-20”.
Unlike Dogecoin, DOGE20 utilizes an eco-friendly proof-of-stake consensus mechanism, addressing concerns about the environmental impact of traditional mining.
Dogecoin20 is not intended to replace Dogecoin. Instead, it pays homage to the legendary meme coin by bringing new changes to the meme coin world with enhanced features. Guided by the principle of “Do Only Good Everyday,” this token intends to be a wholesome meme coin through its charitable efforts.
Due to its approach and strategic marketing efforts, Dogecoin20 has gained attention in the meme coin and DOGE communities.
BTCC does not support Dogecoin20 token trading for the time being, but offers over 300 virtual currency contracts with leverage up to 225Χ. If you are interested in this, you can click the button below to enter the trading page.
＼Deposit and Receive Up to 10,055 USDT!／
DOGE20 Staking Reward
One of the key features of DOGE20 is its staking program, which allows holders to stake their tokens and receive passive rewards. Staking smart contracts are programmed to distribute tokens to all stakers over a two-year period, providing an sustained passive income opportunity for the community.
Specifically, 15% of the total supply of DOGE20 is used for staking awards, with 12.5% being distributed in the first year to reward community members. This staking infrastructure is designed to incentivize long-term holding and community engagement.
Early presale investors can generate APYs (Annual Percentage Yields) as high as 410%. Nearly 7 million tokens have already been locked in the ecosystem. Post the exchange listing, the APYs will depend on the total number of tokens staked on the staking pool.
According to DOGE20’s website, the current staking reward is more than 60% of the annualized proceeds. The high staking reward encourages DOGE20 investors to hold on, helping to reduce the selling pressure on the market when the Meme token is launched.
DOGE20 Tokenomics
One of DOGE20’s biggest advantages over Dogecoin and other meme coins is its limited supply of tokens. Meme coins such as Dogecoin have an infinite supply, which has led to the token’s decreasing demand compared to the supply.
Investing in a cryptocurrency that has an unlimited supply can be risky. The founding team may set up an unlimited supply for suspicious reasons, such as to cash out the liquidity. Therefore, fixed supply tokens such as Dogecoin20 may be safer investments.
With a maximum circulating supply of 140 billion tokens, DOGE20 is designed to address the infinite inflation dynamics that exist in Dogecoin.
Another 25% of the token supply is currently being distributed through the token ICO (Initial Coin Offering). Conducting one of the best ICOs in 2024, Dogecoin20 has raised nearly $2 million in only a few days since its launch.
Of the remaining supply, 25% is used for marketing to help $DOGE20 remain competitive in the meme coin market, and 15% is used for passive income (staking) rewards. Another 25% is allocated to the project treasury , allowing the community to vote on its healthy use.
The last 10% is reserved for increasing the liquidity of the decentralized exchange (DEX), allowing $DOGE20 to provide buyers with a smooth trading experience upon launch.
What Is The Difference Between DOGE20 And Dogecoin?
Dogecoin20 is part of the Dogecoin family of meme coins but adds more utility and value for holders by introducing staking on Ethereum for passive rewards.
According to the Dogecoin20’s whitepaper, the project is a more eco-friendly and sustainable version of the original Dogecoin. This is because Dogecoin adopts the energy-intensive proof-of-work (PoW) algorithm. While DOGE20 is built using the proof-of-stake (PoS) algorithm. This consensus is far more energy efficient than the PoW, as it eliminates the need for intensive computational work.
In addition to the sustainability offered by the PoS blockchain, DOGE20 offers additional utility compared to Dogecoin. Since this new cryptocurrency is built on the Ethereum blockchain, it supports smart contract functionality and staking benefits.
Through the on-chain staking mechanism, $DOGE20 token holders can contribute to the stability and security of the ecosystem. At the same time, you can generate passive income by staking DOGE20.
DOGE20 Roadmap
To obtain a better understanding of Dogecoin20’s future, let’s take a closer look at the project’s roadmap:
- Phase 1– The first roadmap phase focuses on the ongoing presale. 25% of the token supply has been made available for this round. This is the first opportunity for the public to purchase the $DOGE20 token. The first phase will also focus on creating a professional marketing campaign.
- Phase 2– The second phase is the early presale staking incentive. Presale investors that stake $DOGE20 can earn high annual yields before the token lists on Uniswap. Currently, the APYs are set at 410%.
- Phase 3– The next phase involves the presale token claim. After the ongoing presale ends, Dogecoin20 will allow investors to claim $DOGE20 through the presale website. The staked tokens will also get allocated to the staking pool.
- Phase 4– The fourth phase will involve the token launch on Uniswap. This will be the initial exchange offering, allowing customers to start trading $DOGE20 on one of the largest DEXs in the world.
- Phase 5 – The fifth phase involves the liquidity provision on Uniswap. 10% of the 1.4 billion token supply will be used to provide liquidity on the Uniswap DEX.
- Phase 6– The final roadmap phase focuses on the long-term passive income rewards. Over the next two years, 15% of the token supply will be distributed through staking pools.
DOGE20 Price Prediction And Future Outlook
Due to the limited price history of Dogecoin20, making an accurate DOGE20 price prediction for the future price may be difficult. However, Dogecoin20 appears to be a promising investment due to its utility.
It is one of the few meme coins with focus on utility, providing passive income through its smart contracts. In addition, it is far more sustainable than Dogecoin, and has a limited supply of tokens. These factors could help Dogecoin20 become the next cryptocurrency to explode in the meme space.
Currently, Dogecoin20’s fully diluted market cap is 900 times lower than Dogecoin’s. Even if Dogecoin20 successfully secure only a small portion of DOGE’s market cap in the long run, it could deliver a big return for investors.
For example, if DOGE20 reached just 1% of Dogecoin’s current $21 billion market cap, it equates to a price jump of nearly 34x. While there is no guarantee of securing a return, Dogecoin20’s utility and staking mechanism give it an advantage over the new memes on the market.
How To Buy DOGE20?
At present, DOGE20 coins are mainly traded on Uniswap, MEXC and other exchanges.
Unfortunately, BTCC does not currently support DOGE20 trading, but offers a variety of popular meme coin trading pairs, including PEPE, DOGE, SHIB, WIF, etc. If you are interested in these meme coins, you can sign up for BTCC to make a purchase.
＼Deposit and Receive Up to 10,055 USDT!／
You May Like:
What is Renzo (REZ) Coin: All Things You Need To Know About It
What Is MUMU Meme Coin: Something You Need Know About It
Gold Price Continues to Rally: Is Gold a Good Investment For Canadians In 2024
What is SPACE ID(ID): Is SPACE ID A Good Investment In 2024?
Best Crypto Trading Bots in Canada for April 2024
What is XDC: All things You Need Know About XDC
Is Dogecoin A Good Investment In 2024?
Shiba Inu Burn Rate Explodes By 1200%: Is Shiba Inu A Good Investment in 2024?
Register now to begin your crypto journey
Download the BTCC app via App Store or Google Play
Follow us
Scan to download
Exchange for a better future
- Terms & Agreement
Quick Links
Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.
The world’s longest-running cryptocurrency exchange since 2011 © 2011-2024 BTCC.com. All rights reserved
Comments
Leave a comment
Your email address will not be published. Required fields are marked with an asterisk (*).
Comment*
Name*
Email address*