The Telegram-based initiative DOGS is concluding its airdrop this week, with final tokens being claimed. To date, over 380 billion tokens have been allocated to more than 20.5 million users.
As the airdrop wraps up, DOGS is gearing up for a token burn, where the community will have a say in the number of tokens to be permanently removed from circulation.
DOGS Gears Up for Its Next Move
The intended token burn, which aims to diminish the overall supply of DOGS, could potentially enhance its market value. Token holders will participate in voting on the quantity of unclaimed tokens to be eliminated from circulation.
“The backbone of DOGS is our community. By engaging them directly in the token burn decision-making process, we ensure that the future of $DOGS aligns with the aspirations of those who support our mission,” a representative from the DOGS community remarked.
Alongside the token burn, a fraction of the tokens will be donated to charitable organizations, with the community deciding which causes receive the contributions. DOGS has already committed over $300,000 to initiatives like Save the Children and Animal Charity Evaluators. The upcoming vote will allow holders to ensure that the donations reflect their values and priorities.
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This initiative comes after DOGS’ remarkable success, including a record-breaking achievement for the fastest token launch to attract 17 million claimers. The coin, inspired by Telegram founder Pavel Durov’s pet, Spotty, gained widespread attention shortly after its launch. It rapidly trended on social media, witnessing a remarkable increase in users and listings on several major exchanges.
Distinct from typical meme coins, DOGS provides tangible benefits within the Telegram ecosystem. Built on the TON blockchain, it rewards long-term and active Telegram users based on their account age and participation.
The project maintains a fixed coin supply of 550 billion, with 81.5% allocated directly to the community. Of this amount, 73% is earmarked for long-standing Telegram users, while the remainder is accessible for traders and newcomers.
The team has reserved 10% of the supply for future developments, with the majority of these tokens subject to a 12-month lock-up period. Furthermore, they have allocated 8.5% to enhance liquidity on centralized and decentralized exchanges and foster listing efforts.
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For potential investors, the approaching token burn may represent a crucial event. Decreasing the total supply could bolster the token’s price, possibly benefiting long-term holders. As the airdrop concludes, new entrants might discover a timely opportunity to engage in the market.
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