When you check the history of how the project started in this decentralized space, it will interest you to know that there are many that started with just a fun discussion among themselves, an example is Dogecoin.
The fun making of wild speculation in cryptocurrency resulted in creation of a payment system as a joke (Dogecoin). This mean, there is nothing attached to Dogecoin aside from a payment system when it was launched in 2013.
As the adoption of cryptocurrency and its technology increases, there is a need to add more utility to any crypto assets in the space that will stand the test of time, as there are a lot of crypto assets with different solutions attached to them.
The Launch of Dogechain
Dogechain is a less than 4-months blockchain platform that lets users bridge over Dogecoin (DOGE) and uses it for DeFi, NFTs, and more. This has commanded more utility to the leading meme coin (DOGE) due to the enabling features like decentralized finance (DeFi), Non-fungible token (NFT), decentralized applications (dApps) and game (GameFi).
A lot of transactions have been happening on the network. At the time of this article, there are 11,055,578 wallet addresses with over 81,586,9178 transactions on the network.
Fact About Dogechain
- Dogechain uses Polygon Edge (MATIC) framework to build its proof-of-work network.
- There are 10 dApps on the chain at the moment
- There are two cryptocurrencies integral to the blockchain: the DOGE meme token and Dogechain DC token.
- Staking program with about 85.67% APR, the longer you lock DC, the more veDC you get.
- There are 4 validators on the network
- There are 1077 delegators on the network
- A user can bridge a minimum of 100 DOGE on the network
How do I acquire a DC token?
It is very easy to get your DC token.
Firstly, connect your metamask to the dogechain bridging app to generate the deposit wallet as there is a need to deposit $DOGE which becomes wrapped DOGE when it is received.
Secondly, deposit a minimum of DOGE from any exchange like Binance and wait until 6 block confirmations of the Dogecoin chain are complete.
Thirdly, proceed to swap your received DOGE now wDOGE with DC through AnjiSwap
Now, you are a holder of a DC token.
The Use/advantage of DC token on the network
DC token is the main utility on the dogechain network, it is also the governance token on Dogechain. The team cherished every DOGE holder provided it's on dogecoin as wDOGE. They apportioned 12% of DC’s total supply of one trillion tokens to be distributed to wDoge holders.
One of the features we enjoy in DeFi is staking rewards which is passively delivering rewards into our wallet daily. Delegating your DC token activates this reward up to 85.67% APR and the longer you lock your DC, the better rewards you acquire in form of veDC.
Dogechain has a lot to offer to crypto enthusiasts, especially as web3.0 becomes the talk of the town, it will be great to get yourself ready to dogechain. I will be dishing out some information that will help you on your journey with dogechain.
Get yourself ready to understand new things to do with your DOGE through Dogechain.