InfoNesia.xyz – The development team behind Baby Doge Coin is thinking of developing a burn gateway for the cryptocurrency with a canine theme despite the significant burns performed in the past.
The idea was announced by Baby DogeCoin in a tweet today. The team posted a request on Twitter for community ideas on inventive ways to reward individuals who participate in the burn program.
According to Baby Doge Coin, users who burn bitcoin will be rewarded with non-fungible tokens (NFTs). However, the team requested that community members leave comments on the post with their thoughts on the effort.
“What inventive means might we use to encourage users to burn more tokens if we created a burn portal? An NFT, layers of NFTs, and rewards for burning tokens are a few examples.” It read, “We want to hear your suggestions!”
Baby doge holders react
The suggestion has sparked a response from the community, with many individuals endorsing the notion put up by the Baby Doge Coin team.
On how the team may speed up burning, some people, however, hold different opinions. Mohammed R.Hamad, a Twitter user, believes that the best course of action is to increase BabyDoge’s popularity by launching a store under the token’s name.
Baby Doge Coin Burning Initiative
It is important to note that the Baby Doge Coin team has made a significant contribution to lowering the overall supply of BabyDoge through burns. The company burned a stunning 50 quadrillion coins in one transaction in July, setting a record for the largest token burn in the cryptocurrency industry. Additionally, Baby Doge Coin burns one quadrillion tokens every month from its entire supply.
A decentralized exchange, in October, unveiled Baby Doge Swap. The company said two days later that it will use a portion of the DEX’s fees to purchase and burn the token. Baby Doge Coin became the 1 cryptocurrency project with the greatest burn rate thanks to their never-ending burn efforts.
Top crypto initiatives as well as investors have continued to show interest in Baby Doge Swap. The total value locked (TVL) on Baby Doge Swap has reportedly topped $30 million, according to a statement made today. Less than a month after the decentralized exchange opened, the accomplishment occurred.
Doge and the rise of its dog-themed coins
Little Baby Dogecoin is the newest member of the Shiba Inu dog-themed cryptocurrency family. Dogecoin was the first, followed by Baby Doge, WifeDoge, and finally Little Baby Doge. It is regarded as a hyper-deflationary decentralized repurchase token, a community-driven project that seeks to use the crypto ecosystem to lessen global warming.
The purpose of the meme coin money, according to its website, is to raise awareness of the present state of climate change. The goal of the initiative is to combine charitable giving with cryptocurrencies to help the battle against climate change.