The much-awaited Babydoge announcement is out. According to a tweet sent earlier today, the testnet for BabyDoge’s new swap protocol has officially launched. According to statistics from CoinMarketCap, the token’s price is now in green. The announcement of the protocol’s debut today was made at first last week.
Users’ paid exchange fees will be partially burned to create a more limited supply of the deflationary BabyDoge coin. Fees for partner projects have been removed by the exchange protocol. Popular currencies, however, are subject to standard fees.
Babydoge testnet feature is easy to use
Users must connect to Metamask or one of the other well-known wallets in order to begin utilizing the testnet. Any token may be exchanged for BSC once your wallet is linked. Soon, more pairs with well-known digital currencies like Bitcoin and Ethereum will be offered.
CertiK, a blockchain security company, was in charge of examining the exchange protocol. According to a tweet on August 10, BabyDoge was the token that received the most attention last week. The protocol includes functions like farming, staking, voting, and exchanging in addition to trading.
The meme coin team intends to launch a game that will let participants wager their tokens, some of which will ultimately be burnt, according to a recent AMA. There will soon be physical BabyDoge cards that will allow users to use the token with retailers all around the world.
The project’s team intends to “aggressively” launch the exchange protocol’s marketing campaign. It’s unclear if it will be able to compete with PancakeSwap, the top decentralized exchange on BSC, which, according to statistics given by DefiLlama, now counts $3.27 billion in total value locked.
Notably, the doggy meme coin is growing in popularity and expects to pass the runner-up in the race in under a year. In April, the dog-related meme coin moved up to third place, passing leaders Dogecoin and Shiba Inu.
With around 1.6 million owners—more than twice as many as Dogecoin—BabyDoge has the most owners out of the three, according to BscScan.