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DOGS Token Launch Causes Congestion On Many Platforms

Key Points:

The DOGS token launch caused significant disruptions on trading platforms and Telegram Wallet.
Bybit, Binance, and OKX experienced temporary service outages due to high user activity during the DOGS token launch.

The recent launch of the DOGS token has triggered significant congestion across multiple trading platforms and the Telegram Wallet due to an unprecedented influx of users.

DOGS Token Launch Causes Major Trading Platform Disruptions

Telegram Wallet said that the DOGS token launch caused problems on different crypto exchanges and affected some wallet functions. The wallet’s exchange feature is not working right now, but the team is working hard to fix the problems and bring back normal transactions and peer-to-peer (P2P) services.

The company also faced some issues yesterday with the launch of DOGS tokens, though the network and app are back to normal. Bybit and OKX also noticed some slight service interruptions. Binance announced that the interruption occurred in connection to the lengthy process of the TON network upgrade, which temporarily suspended deposits and withdrawals for TON tokens.

TON network claimed to have dealt with requests’ speed at a really high level—up to 150,000 requests per minute when DOGS launched. It’s ready for stress testing in anticipation of up to 10 million users at the same time.

Dogs Community Enforces Anti-Cheating Measures

To allay any fear about fairness, the Dogs Community assured that there are tight rules against cheating. Accounts found cheating will have their DOGS frozen, even if they were already moved to an exchange. The group made it a point to emphasize that the rewards would go to actual users, not cheaters.

DOGS is a meme coin with a dog mascot. Users just get excited with the blockchain application that was initially started through an interactive experience around tokenized stickers to talk about the founder of Telegram. Huge adoption, all these considering that the backing is from the TON blockchain, with 8 million users claiming airdrops and over 16 million members active in the Telegram group.

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.