DOGS Listing & Price Drop. What's Happening?
Another tap-to-earn, DOGS, sets a record. But it seems that users do not see the bigger issue of tap-to-earn applications and their tokens.
DOGS concept
DOGS drew attention by not inviting users to carelessly tap the screen. From the very first day of its existence, the app distributed a certain number of tokens to its users by calculating the age of their Telegram accounts. Additional coins are added if the user has a premium subscription in Telegram, and he actively uses the messenger.
The logo of DOGS became the famous unofficial VK mascot, the dog Spotty. Once upon a time, Pavel Durov, founder of VK and Telegram, drew Spotty for a charity auction.
DOGS tokenomics: what will be the listing price?
In August, the team announced listing on several centralized exchanges such as OKX, Bybit, Bitget and others. At the same time, the tokenomics of the project was presented. 81.5% of the tokens will go to the community. 73% of these will go to those who earned DOGS in the app, and the rest will be distributed as reward for traders. Another 10% of the tokens will go to the team. 8.5% is to ensure liquidity on exchanges. In total, the team will mint 550 billion DOGS.
The listing price is unknown at this time. However, the average price per token in the pre-market is now $0.0014. During this time, the pre-market price dropped significantly from the initial $0.01.
Airdrop and new records
Last week, the DOGS team suddenly announced the start of the airdrop and token claim. Initially, the withdrawal of tokens to wallets and exchanges was planned for August 16. Users were asked to connect their wallets or exchanges as they wished. The launch of the token and the start of trading were planned to begin on August 20.
According to the team, on August 16, 3.5 million people claimed their tokens in the first 10 hours, and by the end of the day, this figure increased to 6 million. This could be the largest airdrop from tap-to-earn app to date. However, due to the large influx of users, they decided to postpone the launch of DOGS on the exchanges. The claim of tokens has been extended until August 21, and trading and withdrawal will begin on August 23.
DOGS may repeat the fate of Notcoin listing day issue
The mini-game team strives to ensure that as many users as possible have time to claim their tokens. Therefore, this became another reason for postponing the listing date. However, the community, having learned from the bitter experience of Notcoin's listing, fears that the same thing will happen to DOGS.
On May 16, Notcoin was listed, but neither Telegram Wallet nor some large exchanges could cope with the influx of people wishing to withdraw their assets. This caused the servers to fail, preventing some users from withdrawing tokens at a better price. During the downtime, the NOT price decreased by 10%. Shortly after this, Wallet solved this problem by awarding an additional 10% to each victim, and the Bybit exchange, for example, not only paid compensation, but also restructured its management after the incident.
The community is not confident that the DOGS listing price will be fair. So far, no mini-app has been able to replicate the success of Notcoin. And given that there are high risks of a repeat of the Notion listing situation, the community is worried that in the end it will not receive enough funds.
Problems with Telegram games and their memecoins
“We are not like everyone else. We are unique." The market has spawned hundreds of mini-applications on Telegram, which, while describing their concept, do not forget to declare this very uniqueness. But what the average user sees is the same sour candy, only in different wrappers.
Tap-to-earn apps have two problems: copy-paste and the utopia of big profits for nothing. What made them popular will eventually lead to their downfall unless developers collectively come up with something truly unique and, most importantly, useful.
The big people at TON warned us about this. And now all the tap-to-earn, as one, declare an imminent change of vector towards utility. The first problem is not solved.
The DOGS team also said that they plan to use the built-in capabilities of Telegram to introduce “game-changing” features into their game. Boring.
If the DOGS team changes anything now, it will not lead to the fact that the application and hundreds of others will live and thrive, and their tokens will grow by leaps and bounds. DOGS listing will happen. Perhaps even successfully to some extent. For some time, the price of DOGS will follow an adjusted path. It will rise and set an all-time-high. But still not so promising. And then, the dogs, the hamster, and other “crypto animals” will sink into oblivion, become a drop in the ocean and dissolve in the endless stream of cryptocurrencies.
