Initially released in 2013, and widely considered merely a “meme-coin” by many crypto investors, Dogecoin has recently taken the world by storm. The year 2021 has many investors taking a second look into a coin they once overlooked.
Elon Musk sparked new discussions on how to strengthen the cryptocurrency. Since then, Dogecoin has now started tapping into the disruptive industry of decentralized finance. DogeWorld has created the first decentralized exchange for Dogecoin called the DogeDEX.
The DogeDEX is the first ever Doge-backed decentralized exchange. All tokens on the DEX store their liquidity in wrapped Doge, and all staking rewards will be rewarded in wrapped Doge. All transactions are routed through Doge pools and contain a fee which buys back Doge and the native token, DogeWorld.
The DEX launched on the 21st of July 2021on the Binance Smart Chain and already has four projects who have bought into the vision by putting a percentage of their liquidity in Doge: DogeBack, Dogina, Poodle, and BabyShark.
However, DogeWorld’s plans for building a DeFi centric ecosystem for Dogecoin doesn’t stop at the DEX or the Binance Smart Chain. They are currently building: DogeCharts (designed for Doge-paired token liquidity), DogeFarm (Doge rewarded yield farming), DogeBridge (multi-chain bridge), DogeVote (governance), DogeWrap (Doge wrapping service provider).
The DogeDEX plans to challenge the current mold of storing liquidity in BNB/ETH, “Let’s be honest, are you even a real meme coin if your liquidity isn’t in Doge? So many meme tokens claim to be loyal to the Dogecoin community but their liquidity is in BNB, thus supporting the price of BNB. Put your liquidity where your mouth is by putting it in Doge.”
Fundamental value may be around the corner for Dogecoin thanks to the development going on over at https://www.DogeWorld.Finance