The meme culture is highly valued by DOGE. Dogechain will attempt to carry on this custom. The blockchain and cryptocurrency “payment technology” age was made entertaining by DOGE. As blockchain technology advances into the Web3 age, Dogechain will try to deliver the same feelings.
What is a Dogechain?
A recently released blockchain platform called Dogechain enables users to bridge over Dogecoin (DOGE) and utilize it for DeFi, NFTs, and other things. It is built on Polygon Edge, the most well-known Ethereum sidechain’s own blockchain software.
Additionally, it is compatible with the Ethereum Virtual Machine, allowing it to run applications and games built for Ethereum. The infrastructure of Dogechain enables DOGE holders to transfer their DOGE into a blockchain with greater opportunities and take advantage of those opportunities with their DOGE.
Developers have access to Dogechain’s platform to create DeFi, GameFi, NFT platforms, and other decentralized apps using DOGE as a component of the system’s primary currency. Developers on Ethereum and other EVM blockchains can simply create new applications or connect their current applications to Dogechain thanks to EVM (Ethereum Virtual Machine) compatibility without having to change their original code or learn new programming languages.
Dogechain, which uses the Proof of Stake (PoS) algorithm, gives DOGE holders and the rest of the cryptocurrency community access to a scalable, quick, and affordable blockchain. The Dogechain community wants to preserve the fundamental elements of the original DOGE community while simultaneously creating cutting-edge NFT, DeFi, and Web3 platforms.
How does Dogechain Work?
According to Dogechain Whitepaper Dogechain’s primary objective is to expand the use cases for Dogecoin by giving it much-needed utility. To accomplish this, Dogecoin users only need to wrap their $DOGE into Dogechain smart contracts in order to receive $wDOGE PoS tokens.
Users will be able to access an ecosystem of DeFi products, NFTs, and GameFi using $wDOGE tokens, which are based on the Dogechain blockchain and indirectly supported by their original $DOGE tokens.
Examples of potential use cases include:
● Participating in the NFT market through minting and exchanging NFTs by paying for gas
● Partaking in lucrative GameFi opportunities and engaging with the growing blockchain
● Joining decentralized exchanges to swap tokens and speculate on their value.
● Accessing advanced financial instruments such as staking, lending, borrowing, and
● Taking part in the upcoming Metaverse revolution through Dogechain-powered NFTs.
● Participating in DAOs and funding entire communities.
● And many more.
All new transactions are continuously added to Dogecoin’s digital ledger, which is secured by cryptography on the network. The Dogecoin blockchain has a proof-of-work consensus mechanism, in which miners use computers to execute transactions and log them on the blockchain by solving challenging mathematical problems. Miners receive more Dogecoin in return for assisting the blockchain, which they can keep or trade on the open market.
Users can wrap DOGEs while moving them to Dogechain using a unique bridging procedure and can produce a new token that is linked to the Dogechain price of a DOGE unit via the wrapping method. For instance, you will receive 100 WRAPPED DOGE (wDOGE) on your Dogechain wallet when you wrap 100 DOGE utilizing the bridging feature of Dogechain. The wrapped DOGE is readily inter-bridged between the two platforms and is pegged to the value of DOGE. In comparison to DOGE, wDOGE on Dogechain can be utilized for Web3 platform utility tokens, transaction fee payment, and blockchain governance.
How to launch a token on Dogechain?
A professional group of blockchain developers is required if you want to build a cryptocurrency token with some cutting-edge functionality that is tightly integrated with a dApp ecosystem. But the most straightforward method for producing your own cryptocurrency token is to use specialized DIY platforms. The core characteristics of your crypto token, such as whether you want to be able to burn, mint, define roles to govern the crypto token, assign ownership, etc., must still be decided upon after selecting a platform.
You can simply go and visit PandaSale.finance website, which enables projects to create tokens and presales in a matter of seconds. Click on the Toolbox and you will see a Token builder. To mint a Standard Token type, within the Token Type section, select Standard Token. After you choose a name, symbol, total supply, etc, click on Create Token. You will be asked by MetaMask to confirm the transaction. Additionally, it will display the fee that you must pay for the transaction. To complete the procedure, tap on the Confirm button. You can also create Liquidity Generator Token, ButBack Baby token, and Baby Token.
The price of creating a token on PandaSale is:
Standard Token Minting Fees: 250 DC
Liquidity Generator Token Minting Fees: 250 DC
Baby Token Minting Fees: 250 DC
Buyback Baby Token Minting Fees: 250 DC
Next, still on PandaSale, you can click on the tab Launchpad to view pools, private sales or to create a presale. To create BSC Presale or Fair Launch there are two options:
1.000 DC + 2.5% of DC Raised
1.000 DC + 1.5% of Tokens Sold + 1.5% of DC Raised
Panda Anti-Bot: 1.000 BNB
KYC Badge: Free
Audit Badge: Free
The technology behind Dogechain is still in its development. Because of the potential for irregularities in its fundamental protocols and algorithms, users are recommended to take additional caution