Dogechain’s Journey Through 2023 in Retrospective
I’ve had many good experiences on Dogechain — the highs and lows, the campaigns and rewards, the continuous building and developments, its community-based projects, and the amazing community spirit within the confines of its community groups.
All of these came together to make 2023 on Dogechain a great year for me, even in a market plagued with uncertainties until it started picking up in the last quarter of the year.
Now, I’ll run a recap of 2023 in Dogechain, its milestones and achievements, and what is expected for the new year.
THE ECOSYSTEM MILESTONES
1. Circulating Supply Verified on CoinMarketCap
The Total and Circulating supply of the $DC token on CoinMarketCap was verified in February enabling the blockchain to be ranked according to its market capitalization in the blockchain industry.
2. Gate.io and Kucoin Integrated Dogechain Mainnet.
Before this, only the Ethereum-based (ERC-20) $DC could be traded in these centralized exchanges. However, this integration enabled Dogechain mainnet $DC tokens to be deposited, withdrawn, and/or traded on the exchanges.
3. Dogechain Announced its DOG-20 Standard.
Dogechain renamed its token standard as follows:
- DOG-20 — Fungible tokens
- DOG-721 — Non-fungible tokens
- DOG-1155 — Fungible + Non-fungible tokens
The DOG token standard extends ERC-20 and becomes the blueprint for minting tokens on Dogechain to easily differentiate Dogechain-based tokens from other networks, removing all ambiguity and allowing all ecosystem builders to mint tokens under the same umbrella.
4. Early Shibes Airdrop Completed
After 8 monthly episodes of airdrops beginning in August 2022, the airdrop for early boarders of Dogechain, who bridged their DOGE from the Dogecoin network to Dogechain in the first month of launch, ended in April.
The distribution was 3% of $DC total supply and all unclaimed tokens were burned. The proof of burn can be found here.
5. The Dogechain 4/20 Roadmap Reveal & The Great Burn REDUX!
Remember that sometime in October 2022, the community proposed a big burn of the total supply of 1 trillion DC, which was voted on and passed which led to an 80% burn that reduced the total supply to 200 billion tokens.
This year, the community felt the need for a reduced supply again and after several demands, on April 4th, the popular 4/20 day, the team announced a tokenomics improvement. This resulted in a Tiered Burn Proposal Vote, which finally passed (after a moment of indecision).
The team was required to lock tokens to meet the requirements of either of the tiers to activate a tiered burn.
Tier 1: Lock 20% off $DC circulating supply locked to activate 10% total supply burn.
Tier 2: Lock 30% of $DC circulating supply locked to activate 15% total supply burn.
Tier 3: Lock 40% of $DC circulating supply to activate 20% total supply burn.
Tier 4: Lock 50% of $DC circulating supply to activate 25% burn total supply burn(max).
The team released and locked 3 million of its tokens from the Team allocation and with no time, Tier 2 was achieved and 15% of DC token supply was burned on July 25th, reducing it to 179.1 billion tokens.
6. Batch Transaction Tool Launched.
To make life easier for everyone wishing to send DOG20 tokens to multiple addresses, the Dogechain development team released the Batch Transaction Tool.
This tool helps users send DOG20 tokens on the chain like $DC, $DOGE or any community-created tokens to several Dogechain wallet addresses at once. Click on this link to use.
7. Build-A-Doge Workshop Went Live.
This tool was created for anyone who dreams of creating their memecoins, without having the technical knowledge to fork in token smart contracts for the creation.
It is a no-code feature that enables users to create their DOG-20 tokens effortlessly and in a few minutes by providing you with a streamlined platform for launching them, using smart contracts tested by the Dogechain dev team.
You need to have $10,000 $DC for the anti-spam fee to create these tokens. Click here to use the tool.
8. Quick Response to the Multichain Bridge Hack: Launched ERC20 $DC to DOG20 $DC Converter
Multchain bridge was hacked in July and some Dogechain assets were affected by this exploit.
USDT and USDC were the most affected because the pools on the Ethereum side of the bridge were drained, leaving bridged stablecoins on Dogechain in limbo. However, the $DC tokens locked in the Multichain smart contract haven’t been affected.
However, because of the alleviated risk of exploiters making use of the Multichain bridge to mint new ERC20 $DC tokens drain this pool and try to sell it off on the market, the Dogechain team did the following:
- Halted ERC20 $DC deposits on centralized exchanges immediately.
- Pulled and bridged back the $DC liquidity pool on Uniswap Ethereum to the Dogechain mainnet.
- The Dogechain PoA validator consensus has frozen the Multichain wallet address holding the $DC on the Dogechain mainnet.
In addition, the ERC20 to DOG20 $DC Converter was launched to help users convert their Ethereum-based $DC tokens back on Dogechain and regain their utility for trading.
9. Dogechain Launched Zealy Quests for its Community.
With Dogechain’s Zealy Community Questboard, users can now join other community members and friends to complete quests, solve quizzes, and accumulate those sweet EXP points!
Stay tuned for upcoming contests on the platform and start climbing the leaderboard in the meantime. Join here.
10. Governance Proposal & Vote to Migrate from Polygon Edge to Polygon CDK for zkEVM.
In October, the Dogechain team published a proposal to move from Polygon Edge to the new base Polygon stack, the CDK, which would enable Dogechain to be relaunched as a zkEVM blockchain network.
The purpose of this migration is to get rid of third-party bridges which are prone to security breaches and enable interoperability and seamless trustless and atomic bridging between all Polygon CDK, zkEVM, and Ethereum L2 chains.
This discussion went on for some months in Dogechain’s Reddit Forum. However, Polygon announced its discontinuation of Polygon Edge development to focus solely on the Polygon CDK stack and the proposal was sent to the voting process immediately.
The vote ended on December 30th, 2023 and it passed with over 98% of voters in favour of the migration. Now, we expect full information and guidance on the migration and the launch of Dogechain 2.0 in 2024.
INTEGRATIONS AND PARTNERSHIPS
1. The Slash.fi Integration
This integration enables users to process payments with their Dogechain mainnet tokens including $DOGE and $DC, with no less than 40 merchants in Japan!
Learn how to become a Slash merchant here.
2. Bitstack Partnership
The professional blockchain infrastructure provider in Web3 for improved infrastructure and allows builders on Dogechain to run bespoke RPC nodes for their dApps.
3. Mintpad Collaboration.
The partnership will enable designers and creators to use the no-code, battle-tested NFT launch platform effortlessly to launch their NFT collections on Dogechain in just a couple of clicks, with only their artwork and wallet address as a prerequisite.
4. Airlyft Integration
Airlyft is a growth hacking platform that allows users and communities to create on-chain engagement campaigns with their extensive tools and offer rewards in tokens.
5. Dogechain and Binocs Partnership
Binocs is a crypto accounting and tax platform. The collaboration allows you to connect to your favourite exchanges and track your Dogechain wallet address to get a comprehensive overview of your holdings, which simplifies your life when it comes to managing your portfolio and taxes.
You can also view your trades from both CeFi and DeFi and export this data for your accounting needs and tax reporting.
6. The A51 Finance Partnership
Formerly called Unipilot, A51 is a DEX liquidity manager that complements Quickswap on Dogechain by streamlining V3 using automated strategies and making it more accessible than ever.
7. The Betfury Partnership
BetFury is a crypto casino and gaming platform with more than 8,000 games and huge bonuses for players. Dogechain entered the partnership to facilitate the integration of $DC into the gaming platform, allowing holders to deposit, play and receive payouts in $DC.
Hundreds of games await you here.
EVENTS
1. Dogechain at Polycon 2023.
The biggest Web3 blockchain virtual conference for everything Polygon-related.
2. Dogechain at DCentral Denver
The chain was represented by its core contributors Roc Zacharias, co-founder of Quickswap, Sam Kazemian, founder of Frax Finance, and Guest Speaker, SlumDOGE the Millionaire, an OG of Dogecoin.
3. Dogechain took its World Tour to Tokyo, Japan.
The event featured:
- Networking and partying with the core team.
- NFT artist exhibition and giveaways.
- Keynotes from exciting speakers
4. Dogechain Celebrated its 1st Anniversary Festival in August.
There were a ton of fun activities and a written retrospective in this Medium article.
COMMUNITY INCENTIVIZATION
This contest was created for the incentivization of community-based projects.
After 4 rounds of battle, DogeTools emerged as the overall winner.
2. The Meme Revolution Contest
The contest was aimed at incentivizing memecoin projects on Dogechain with the Ruleset here.
After 2 rounds of tough contests, DogeTools, yet again, emerged the winner with the highest percentage in allocation (48%+) of the $20,000 funding.
3. The Ultimate Theme Song Competition
A Dogechain Twitter Spaces theme song creation contest with a reward pool of $500 for 3 best entries.
4. Dogechain NFT Giveaway
5. Airlyft x Dogechain Giveaway
A giveaway of 700,000 $DC to 10 lucky participants.
6. BetFury x Dogechain Giveaway
A giveaway of $500 + 500 free spins to 10 lucky winners.
7. Mega Dogechain Anniversary Festival Giveaway
A giveaway of $1000 to 20 lucky winners.
8. Shibetastic Thanksgiving Raffle
A giveaway of 800,000 $DC for 50 lucky winners.
9. Holidaze Spectacular Giveaway
A giveaway of 500,000 $DC to 50 winners.
10. Genso x Dogechain Power-Up Campaign
A giveaway of 50 exclusive Doge-themed NFTs for the Genso Game to 50 winners.
NETWORK MAINTENANCE
1. Dogechain’s RPC node upgrade was completed in February to help provide users and builders with a robust infrastructure.
The Dogechain dev team successfully tested a new loading balance method for the official public RPC nodes, to make their overall processing more efficient.
2. In March, the team successfully updated Dogechain’s bootnode list, deprecating some of the old ones.
Check the updated documentation here.
3. The dev team performed a maintenance of its blockchain explorer webpage in July.
4. A major network upgrade was carried out in October to enable the community and builders to benefit from a much more stable, scalable, and robust infrastructure for Dogechain.
All other RPCs were removed and limited to the original RPC: https://rpc.dogechain.dog. This resulted in faster transactions, lower gas fees, and better user experience than ever!
NETWORK UPDATES
1. The number of veDC delegators reached 2000 in September.
2. Dogechain reaches 100 million transactions in September.
3. The number of followers on Dogechain Twitter hits the 100K mark.
4. $DC scaled back up in price, knocking out a 0 with about a 90%+ increase in December.
5. Dogechain’s TVL increased up to $29M in 24 hours sometime in December, showing a high level of buy pressure back in its market.
6. Dogechain successfully held 49 Roundtable Spaces from #19 to #68 with a huge number of people tuned in in every session.
And like that, we’ve come to the end of 2023!
WHAT CAN WE EXPECT IN 2024?
The bull season is upon us and it is reflected in the current market conditions. 2024 will be wilder; ETFs are coming, Bitcoin halving is happening in April, Ordinals may become the new way of creating NFTs, and every activity is pointing towards a green season.
It’s not different in the Dogechain ecosystem. DOGE’s first mission to Space with Elon Musk’s intended SpaceX launch solely sponsored by DOGE will bring more eyes to the Dogecoin community and thus, to Dogechain.
In addition, Dogechain is migrating to Polygon CDK in 2024 which will relaunch it as Dogechain 2.0, a zkEVM-enabled chain and direct L2 roll-up of Ethereum. On Dogechain 2.0, there will be super enhanced levels of scalability and interoperability with other Ethereum Layer 2s, zkEVM, and Polygon CDK chains.
Dogechain is already showing a good level of momentum in its chart; 2024 will be a good year.
Connect and stay updated with the latest news and updates of the Dogechain Family by joining its social sites: https://linktr.ee/dogechain
