What Caused Dogechain (DC) To Have Spectacular Gains?
The layer 2 project Dogechain (DC) recently raised a proposal to burn 80% of the total supply and reduce the vesting (unlocking token) Early Shibes Airdrop period from 48 to 6 months. After the proposed vote was opened, the DC price skyrocketed by more than 30%.
On October 23, the Dogechain community opened a vote on the proposal to burn tokens, reducing the supply. According to the announcement “Great Burn of 2022 Vote” is opened, burning 80% of the total supply and reducing the vesting (unlocking token) Early Shibes Airdrop period from 48 to 6 months.
Voting results will be closed on October 28. If 500 million DC votes “yes”, the plan will start to work.
Initially, Dogechain rated 1 trillion tokens, issued within 5 years. However, following the incredible growth and engagement of the community since its launch, the organization decided to regulate the DC supply.
In case the proposal is passed, 80% of the supply from all wallets will be burned proportionally. This also includes the Early Shibes airdrop, which distributed 16.7% of the tokens, which will have an 80% reduction in unvested DC. The above plan also proposes to reduce the vesting period for Early Shibes from 48 to 6 months, with the goal of providing users with more flexible transaction times in the context of reduced total supply.
Immediately after the news, the DC token increased by more than 30% within 24h and spiked hundreds of percent in just the past two days. DC is currently trading at $0.001773.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Foxy
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What Caused Dogechain (DC) To Have Spectacular Gains?
The layer 2 project Dogechain (DC) recently raised a proposal to burn 80% of the total supply and reduce the vesting (unlocking token) Early Shibes Airdrop period from 48 to 6 months. After the proposed vote was opened, the DC price skyrocketed by more than 30%.
On October 23, the Dogechain community opened a vote on the proposal to burn tokens, reducing the supply. According to the announcement “Great Burn of 2022 Vote” is opened, burning 80% of the total supply and reducing the vesting (unlocking token) Early Shibes Airdrop period from 48 to 6 months.
Voting results will be closed on October 28. If 500 million DC votes “yes”, the plan will start to work.
Initially, Dogechain rated 1 trillion tokens, issued within 5 years. However, following the incredible growth and engagement of the community since its launch, the organization decided to regulate the DC supply.
In case the proposal is passed, 80% of the supply from all wallets will be burned proportionally. This also includes the Early Shibes airdrop, which distributed 16.7% of the tokens, which will have an 80% reduction in unvested DC. The above plan also proposes to reduce the vesting period for Early Shibes from 48 to 6 months, with the goal of providing users with more flexible transaction times in the context of reduced total supply.
Immediately after the news, the DC token increased by more than 30% within 24h and spiked hundreds of percent in just the past two days. DC is currently trading at $0.001773.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Foxy
CoinCu News
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