Project Updates for May & Beyond ~
Hi DogeDao Community! 🚀 🐶
Its been a whirlwind of a first two week for DogeDao. Starting off as a stealth launch on Ethereum, then migrating to Binance Chain and the huge amount of support we have had from the community.
To get caught up on the changes we made, read our first article: https://dogedaofinance.medium.com/dogedao-token-migration-7941d25a789d
Lets start with a Quick Recap:
- Launched on May 11th.
- Trending on DexTools
- Listed on CoinGecko & CoinMarketCap
- Onboarded 2 Additional Developers for Staking & Index.
- Onboarded Marketing Team.
- Migrated from Ethereum to Binance Smart Chain
- Over 1,000 + Hodlers.
- 75% of Liquidity & 100% of Team Tokens are Locked. You can view this on Team.Finance — Check Deposits to Verify.
- 25% of Supply Burnt — Originally owned by VB on Ethereum.
Lets get right down to the details everyone wants.
This has taken slightly longer then expected due to the token migration, and the changes we have made internally but we are hard at work to provide the community with an awesome staking platform.
We are finalizing the MVP of the staking platform and this will be ready on mainnet this week~ we are currently battle testing the platform on TestNet.
We will have multiple tiers and staking events over the next 6 months +. Staking will be based on Total Amount of DogeDao Staked / DogeDao Rewards.
The first staking event will start off with 3 Pools:
- Token Staking: 180% APY — 30 Day Maturity
- Liquidity Pool Staking: 1000% APY — 60 Day Maturity
- Liquidity Pool Staking: 300% APY — 30 Day Maturity
*staking apy subject to change per staking event.
Users can stake via our website, and when we launch the staking we will have a step by step guide with the staking details and rules.
The token staking events have a lock, but users can withdrawal at the early withdrawal date and forfeit the full rewards but receive an amount based on the early withdrawal percentage of 5% of Rewards for Full Maturity Dates.
There will be a maximum amount of DogeDao that can be staked per staking event, but they will be ongoing and continual.
Multi Asset Staking: In the near future, we will offer the staking of various Doges & Meme tokens all within our Staking Dashboard. Earn APY on a variety of tokens that support staking, users will receive rewards in $DogeDao as the native token to the staking platform. Users can stake multiple tokens and receive a variable APY.
The Multi Asset staking will be based on the following:
DogeDao LP + Meme Coin LP. We plan on partnering with multiple reputable projects within the space to create the multi asset staking events.
More details will be released in the coming weeks.
Audit: The staking platform utilizes open source code that has been audited and is used for locking millions of dollars in DeFi protocols. We will release details about this once we have our Staking Dapp released. We have tailored the audited code and amended this with our front end, and back end changes.
Many users have asked questions about how the Index will work, we have kept this under wraps as we want to make sure we can finalize all the details as we move full force ahead with its development.
The Index Repo / Code will stay Private until we are ready to launch, at this time we will provide Audits for the Platform.
Index Tokens: Initially the basket of tokens within the Index will be chosen by the DogeDao team in a centralized manner. The end goal will be transitioning this to a Decentralized Index once the platform is stable.|
We are working on 2 iterations of the platform which will allow us and the community to further develop based on what the community feedback is, and what is the best route to go in terms of the Index and how this ties in value back to DogeDao.
We expect to have both MVPs of the platform released in the coming weeks.
To continue our growth and continue on all fronts, we have onboarded 2 more developers, and have built out a marketing arm that will get DogeDao known by the thousands.
We will push a website update in the coming days with the newest team members, and the marketing arm. In the mean time, we have outlined a short BIO on whom they are.
Our newest team members include:
- 5 Years of Blockchain experience, developing staking platforms and dapps for a variety of projects within the space. Front end experience with a focus on clean UI/UX. Onboarded to DogeDao as a Lead Developer for the Index.
- 4 Years + of experience as a developer within the cryptocurrency space, previously a developer for legacy finance. Built & Deployed multiple Dapps. Works with multiple top tier projects, and is a seasoned veteran in Solidity, React/Typescript. Onboarded to DogeDao as our CTO / Project Manager.
Will assist on running all marketing for DogeDao — a team consisting of multiple members all with large following and reach within the crypto space. Seasoned marketing professionals, with experience as CMOs & Running marketing campaigns for Top tier projects. Under the marketing arm, we expect to run HUGE marketing pushes.
We currently sit at 1300 + Holders and our goal for the immediate future is to onboard thousands of users that can get us to 10,000 + Holders.
We are here to see DogeDao succeed.
Although in the recent weeks the market has had a large correction, we continue to push forward, and this current dip does NOT in any way stop us from building out the platform and continuing our work. We are all seasoned in the space, and market corrections are healthy. We have been around & through many cycles and bear markets. Our project and products will be nimble and able to pivot as needed to ensure the success of the project.
We will continue to provide updates to the community.
Be on the look out for our Staking Article with the Step-By-Step guide launching on the 26th along with our first Staking Events.
Til Doge do us Part 🚀,