Binance Announces Surprising New Altcoin Listing

Binance, a leading global cryptocurrency exchange, is set to list a new memecoin called Dogs (DOGS) that originated from the Telegram community.

This new coin, built on The Open Network (TON) Layer-1 blockchain, will first appear on Binance’s Launchpool on August 23rd, allowing users to stake coins to earn DOGS. Trading for DOGS will commence on August 26th.

According to Binance, DOGS aims to capitalize on Telegram’s extensive user base and meme culture.

The coin, featuring a dog mascot designed by Telegram’s founder, seeks to engage users by integrating blockchain technology with Telegram’s app and tokenized stickers. The goal is to create an interactive and community-driven ecosystem.

The total DOGS supply is 550 billion, with approximately 517 billion in circulation, representing about 94% of the total supply. Binance will classify DOGS with a seed tag, indicating it is a lower-liquidity asset that may experience greater price volatility.

Users holding assets with seed tags must pass periodic quizzes to confirm their understanding of the associated risks before trading.