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The most prominent crypto exchange, Binance, launches a Launchpool for the Dogs (DOGS) meme coin, with farming via BNB and FDUSD.
In its latest update, Binance disclosed plans to introduce Dogs (DOGS), a meme coin tied to the Telegram community and rooted in the TON blockchain, as the 57th project on Binance Launchpool.
This implies that Binance users can farm DOGS tokens for a specified period with BNB and FDUSD stablecoin.
Structure of the DOGS Launchpool
Starting on Friday, August 23, Binance will allow users to farm DOGS tokens by staking BNB and FDUSD in separate pools.
DOGS boasts a total supply of 550 billion tokens, with 72.73% reserved for the community via airdrops. Notably, 22 billion DOGS tokens will be available through the Binance Launchpool over a three-day period. The remaining tokens are allocated toward development, liquidity, and listing efforts.
Participants will be able to farm DOGS tokens with specific hourly caps for each pool. For the BNB pool, each user has an hourly hard cap of approximately 26 million DOGS tokens. However, the FDUSD stablecoin pool offers less quantity with a cap of 4.58 million tokens.
Binance has outlined that participants may claim their accumulated rewards at any time, and unstaking options will be available throughout the farming period. Additionally, users who have verified their accounts and hold BNB in certain products will automatically participate in this Launchpool.
DOGS Listing on Binance
After the farming period, the DOGS token will officially debut for trading on Monday, August 26, at 12:00 (UTC). Available trading pairs are DOGS/BNB, DOGS/USDT, DOGS/TRY, and DOGS/FDUSD.
Binance Supporting DOGS Airdrop
In conjunction with the three-day farming of DOGS, Binance has disclosed that it will support the airdrop distribution of DOGS tokens. This implies that users who provided their Binance wallets for the DOGS airdrop claim will get credited to their Binance spot wallet.
Remarkably, 42.2 million users qualify for the airdrop, with an average distribution of 9,500 DOGS per user. Notably, users from countries such as the United States, Canada, and Japan are excluded from this event, with strict rules governing participation based on location.
Binance support for DOGS follows notable growth in the Toncoin (TON) ecosystem, which has shown promising market trends driven by rising activity.
Toncoin’s Activity Growth
Alongside the DOGS Launchpool, the TON blockchain, which underpins the DOGS token, continues to demonstrate a sharp rise in activity.
According to recent reports, active addresses on the TON Masterchain have reached new records, with 946 addresses engaging daily. This spike represents a significant increase in network use since 2021, with more users participating in transactions and decentralized applications across the TON ecosystem.
Toncoin has also shown considerable strength in the crypto market. Recently, its value increased by 16% within 14 days to $6.68. Analysts are monitoring Toncoin as it approaches key resistance levels, suggesting that continued momentum could push the token higher, with some targeting a price near $10.