DOGAMÍ Reveals Plans for Supporting $DOGA Token
The DOGAMÍ team has published a 4-pillar plan featuring numerous changes and additions, all with the goal of supporting the $DOGA token, with some plans including new CEX listings, lowering staking rewards, stopping the monthly distribution of private sale tokens, and more.
The DOGAMÍ team has recently shared new details on how they plan to support their $DOGA token in the coming months in an effort to ensure the strength of its value.
To do this, the developers have published a 4-pillar action plan.
The first pillar consists of dividing monthly inflation by 2. This will be done by stopping the monthly private sale distribution of 11.6 million tokens in August, which also include advisor tokens. Next to this change, the DOGA Council has voted to lower DOGA HOUSE rewards starting this month, with the aim to progressively reduce those rewards by 50% by September this year. Another change part of this first pillar is to officially stop the 66% staking program on July 27. On that day, the rate is set to change to 33% to a 90-day lock up, while the flexible 8% APR staking option will continue to remain. Last but not least, the team plans to minimize $DOGA payments to their suppliers, as most of the tokens were being resold.
The second pillar is focused on accessibility, which means that the team has managed to sign 2 new CEX listings with more than 10 million registered users. These listings are planned to happen in Q4 this year. Next to centralized exchanges, the developers are looking into integrating the token into Ethereum DEXs, saying that they are “actively developing bridges for the $DOGA token to enable ERC20 users to acquire/trade $DOGA on EVM-compatible chains and hold it on their MetaMask wallet by Q4.”
The third pillar is all about increasing utility of the token. This will be done by creating a DOGAMÍ Ecosystem that is powered by the $DOGA token. This means that buying merchandise, new NFT drops, and using the breeding feature, will all be done using the token. In the upcoming DOGAMÍ Academy game, players will have to upgrade their virtual dogs using the token, which means that “more users equals more value.” The game’s in-game, non-blockchain currency, STAR, which players will be able to win in the game, will also be possible to buy using $DOGA.
In the last pillar, the focus is on marketing both in the Web3 and Web2 space. This will be done using influencers, partnerships, events, and potentially more.
More information can be found in the detailed Medium post from the team here.