Dear shibes, the excruciating wait is over!

After running the testnet for 2 months, we are excited to announce that the first iteration of the Dogechain mainnet will be ready to go live on 08.01.2022.

Ever since we announced the Dogechain project, the team has been working around the clock to build up a community of developers that will populate the platform with useful dApps. With dozens of interested parties ready to deploy and smart contracts fully audited, we can finally start providing added utility for $DOGE holders.

TL;DR

Dogechain is launching the Chained Mainnet on 08.01.2022 which will include:

• PoA consensus engine
• Bridging $DOGE coins and minting wrapped $DOGE.
• Smart contract capability and dApps
• Paying for gas with wrapped $DOGE.

What will be added in the future:

• Switch to PoS consensus engine
• Staking capability with $wDOGE and $DC
• Validator onboarding
• $DC token launch, staking rewards, and airdrops

What does Dogechain do?

Before we go into the details of the Dogechain “Chained” mainnet, let’s give you a quick overview of the project and what it entails.

Dogechain is a standalone EVM-compatible blockchain created with the Polygon Edge framework. It’s a community-first project that aims to provide added utility to $DOGE holders by letting them wrap their coins and offer them smart contact capability.

The platform was created by Dogecoin enthusiasts with the goal to provide original $DOGE holders with added utility. As much as we love the original meme coin, the fact remains that it has a single use case — to serve as an online payment vehicle.

Dogechain aims to address this by allowing holders to lock $DOGE into a smart contract and mint smart contact-capable $wDOGE. These wrapped tokens can be used to pay for gas on a wide range of decentralized applications and allow users to participate in DeFi, mint NFTs, play blockchain games.

The ultimate goal for the platform is to create a decentralized ecosystem of useful dApps powered by the original Dogecoin.

Dogechain Deployment Phases

To ensure that everything works as smoothly as possible for both developers and users, the Dogechain network is deployed in three distinct phases:

Phase 0 — Testnet

Launched on 05.31.2022, the testnet is an identical copy of the Dogechain blockchain, with limited functionality. As its name suggests, its purpose is to allow us to test the chain’s features without risk to real funds or the main chain.

This way, users can experiment with transactions, while developers can deploy dApps, at no real cost.

Note: The Testnet did not implement the wrapping functionality of DOGE. Instead, it used a faucet to mint free $wDOGE that could be used for gas. These $wDOGE have no value and will not be transferred onto the mainnet.

Phase 1 — Dogechain “Chained” Mainnet

Launching on 08.01.2022, the Dogechain “Chained” Mainnet is the first functional iteration of the platform. In this regard, it provides users with the much-needed utility for their $DOGE coins by implementing the wrapping functionality on the chain.

During this phase, users will be able to bridge their DOGE onto the Dogechain and mint wrapped $DOGE tokens, at a ratio of 1:1. These $wDOGE can be used for gas fees on the network which allows them to utilize the numerous dApps that will be launching on the platform.

At the same time, developers will be able to deploy smart contracts and provide useful applications such as decentralized exchanges, NFT marketplaces, lending protocols and much more.

Note: The “Chained” Mainnet will run in a walled-garden state, on a proof-of-authority consensus engine. This means that there will be no staking capability and no implementation of the $DC token. Moreover, during this phase, validators will be hand-picked by the team to provide a trusted environment for validating blocks on Dogechain.

Phase 2 — Dogechain “Unchained” Mainnet

The final phase of the Dogechain mainnet dubbed “Unchained” (date TBA), will retain the functionalities of the previous mainnet and switch to a proof-of-stake consensus engine.

Moreover, the team will release the native $DC token of the platform, simultaneously activating additional validator incentives and staking mechanisms.

This means that at this point, users will be able to stake their wrapped DOGE to receive $DC tokens. $DC tokens can also be staked with validators to receive additional rewards.

Finally, once the $DC token is live on the Unchained mainnet, the team will release the veDC staking model, a vesting and yield system based on the CurveFinance veCRV mechanism.

Note: The “Unchained” mainnet will use both $wDOGE and $DC for gas. Moreover, users will be able to stake $wDOGE to secure the network and stake $DC to receive additional rewards.

Why are we releasing the Chained Mainnet?

You might be wondering what is the rationale behind releasing the Chained mainnet (PoA) without staking capabilities or a native $DC token.

The Dogechain team wants to emphasize its focus on building a true ecosystem of dApps powered by Dogecoin. The main goal is to provide developers with a working platform to deploy their applications that will provide utility to the users.

Through the Chained Mainnet, $DOGE holders will be already acquainted with Dogechain’s technology, benefits, and utility. Additionally, this will allow the project to onboard trusted validators, while simultaneously activating DeFi, NFT, GameFi, and other smart contract capabilities.

Worth noting is that The Polygon Edge framework provides a seamless migration from PoA to PoS and vice-versa. Once a healthy amount of apps are running, Dogechain will switch to a PoS consensus engine and offer additional value to both validators and users with $DC token rewards and staking.

In essence, the Dogechain Chained Mainnet will act as the basis for building the ecosystem that will provide long-term value to both $DOGE and $DC holders.

Dogechain is bringing DeFi & long awaited utility to Dogecoin. Join the family!

Website | Twitter | Telegram | Discord | Reddit | TikTok