The TON Coin ecosystem is witnessing substantial growth thanks to Telegram’s mini-app feature, which has attracted a vast number of users. Recently, meme coins within the network have launched considerable airdrops, although the post-listing price movements have been less than encouraging. In a bid to attract further participation, exchanges are stepping up their efforts by listing more tokens and implementing burn initiatives for DOGS and NOT coins.
What’s Behind the DOGS and NOT Coin Burn?
Notcoin has announced a significant $4 million token burn alongside its partner DOGS, a notable meme coin in the market. After a community vote, it has been decided that 85% of the tokens to be burned will be from DOGS, with the remaining portion allocated to NOT Coin. This collaborative effort aims to permanently decrease the total supply of these tokens.
Why Is Token Burning Vital for the TON Ecosystem?
The burning process will involve 4.8 DOGS tokens and direct 6 billion unclaimed tokens to charitable causes, as chosen by the community. Given DOGS Coin’s market valuation of $370 million, this reduction holds substantial weight. The actual burning will take place on Wednesday, although the impact on prices may be limited due to current market conditions.
- The token burn aims to permanently reduce the overall supply.
- A significant portion of the burned tokens will support charitable efforts.
- Community engagement is critical for sustaining token viability post-airdrop.
Despite having a wide user base, many Telegram users tend to disengage after receiving their airdrops. The focus now shifts to developing ongoing interest and participation among users, ensuring that the initial price boosts of tokens can translate into sustained engagement and value.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
