Welcome back Shibes, to the 4th issue of our weekly Dogechain Digest, regrouping news and updates from our memechain ecosystem.
Mainly, our developers have been pacing forward and implementing a bunch of upgrades to the network. These should provide long-term solutions that will improve the builder and on-chain user experience and allow for better scaling going forward.
Moreover, we initiated the Dogechain World Tour in DCentral Denver, where core contributors had a blast meeting the community and providing firsthand info about our roadmap.
Before we delve into the details of the event and the ecosystem updates, let’s first take a look at some crucial stats on the chain.
Weekly Stats Update 📊
On-chain stats ⛓️
The Dogechain network is growing steadily
- 89,619,527 transactions (+1,248,382 since 2 weeks ago) with an average of 89.1k transactions/day.
- 12,599,155 wallets (+135,428 since 2 weeks ago).
- 9,449,304 total blocks.
DC staking stats 🔐
- DC Circulating Supply — 16,861,196,906
- Current DC Locked — 2,775,871,168
- % of DC Locked — 16.46%
- Average Lock Time — 3Y 8M
Infrastructure Updates from the Dogechain Devs 🧑💻
The Dogechain dev team has been continuously working on improving network performance and hammering out long-term solutions.
Here’s what’s been in the works in the past couple of weeks:
Network Stats
🔹 The network has been stabilized with a blocktime of 2 seconds, where 95% of the blocks were produced within the timeframe.
🔹 The mainnet experienced some congestion on Mar 9 due to an excessive amount of transactions (3–6 seconds blocktime).
Upon further investigation, we discovered that the instability was caused by a disproportionate amount of wash trading. In times of high congestion like these, we advise users to increase the gas fees between 300 and 500 gwei to ensure their transactions go through.
Nevertheless, the upcoming Dynamic Snapshot Solution (DSS) will solve this issue in the long term, ensuring a stable network at all times.
RPC Stats
🔹 Healthy response time from the RPCs, following the upgrade of our RPC nodes.
🔹 The Public RPCs received an average of 200 requests per second, with 99% of these requests being responded to within 600 ms.
Ongoing improvements
🔹 Full node P2P network connection stability improvement — Devnet testing.
🔹Several bugs were fixed during the DSS testing on Devnet.
🔹DSS benchmark completed on Devnet, collecting a full set of metrics and statistics. The solution has provided optimal results in all aspects.
As you might imagine, the next milestone in improving network stability and scalability is the DSS. Our Devs are continuously testing the implementation and will be providing a smooth upgrade of the Solution from the Devnet to the mainnet. This will ensure reverse compatibility and zero downtime.
Mainnet integration on Kucoin 🔗
Hurray! The Kucoin centralized exchange has integrated the Dogechain mainnet into their wallet. This allows users to deposit, withdraw and trade $DC mainnet tokens on the popular exchange and access high amounts of liquidity to boot.
This is a crucial update for the entire Dogechain ecosystem, as it allows for better adoption of the $DC token within the community:
- Until now, Kucoin only offered Ethereum-based $DC which could be only used for speculation. With the availability of Dogechain mainnet $DC tokens, users will be able to participate in staking, voting, and taking part in the Dogechain DeFi.
- What’s more, this opens the road for ecosystem projects to get listed on this popular exchange without having to bridge their tokens and split their liquidity. This will be crucial for the adoption of their tokens by the community and the direct participation of users in their dApps.
All in all, it’s a very welcome update that should ultimately contribute to bringing back the circulating supply of $DC tokens on the Dogechain mainnet.
Adoption of the DOG-20 standard 🐶
Until recently, tokens created on the Dogechain blockchain held the ERC-20 standard, because of their EVM compatibility. However, this had proven to be confusing, as users have often mistakenly thought these to be Ethereum-based tokens.
Moreover, Dogechain has one goal — to superpower $DOGE with added utility! 💪🐶 To fully embrace this narrative, we have renamed the “ERC” token standard on Dogechain into “DOG”.
More precisely, we’ve aptly renamed each 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. Going forward, this terminology will allow users to easily differentiate Dogechain-based tokens from other networks.
It removes all ambiguity and allows all ecosystem builders to mint tokens under the same umbrella.
Dogechain World Tour ✈️🌍- Stage 1- DCentral Denver
Our core contributors Roc Zacharias and Sam Kazemian were at DCentral Denver, meeting the community and spreading the good word about Dogechain.
They shared deep insights about the future of Web3, and the role of Dogechain within this new paradigm. We will be posting footage of the panels, so stay tuned as we parse through the hours of content we are preparing for you.
The next team outing will be on the 12 and 13th of June, during DCentral LA. Join us if you can and stay tuned for more details on this event.
Updates From Our Ecosystem Builders 🧱
Some cool updates from our ecosystem builders that have been increasing the utility of Dogecoin on our network.
Atlantis Loans
Atlantis Loans, the multichain liquidity protocol has released their simplified lending dApp for specifically lending Dogecoin on Dogechain.
This is especially advantageous for users holding their $DOGE on centralized exchanges and not gaining anything from it. Through low-risk lending, users can lend their Dogecoin to others and start gaining yields from their holdings in just a couple of clicks.
The process is simple:
- Withdraw Doge from the exchange
- Bridge Doge on Dogechain
- Provide liquidity to Atlantis.
Mantra
Mantra, one of the leading NFT marketplaces on the chain has updated its landing page and has been working on improving the overall user experience on its platform.
The already feature-clad marketplace has been making some tweaks regarding accessibility and navigation. Users can now easily filter by collection and attributes, in an updated UI. What’s more, Mantra has directly integrated rarity checks on NFTs, making it easy for users to make a decision on their purchases.
This is a great addition to the already existing features such as bulk listings, the pawn shop, and NFT lending pools.
Drugged Huskies
The NFT project has launched its TDH token and engaged a good portion of the community around its narrative. The Smoke Club, a community initiative from the Drugged Huskies holders, has been working towards increasing awareness of the entire Dogechain NFT ecosystem as a whole.
To achieve this, the Club has been raising the floor prices of a bunch of PFP collections on Dogechain. Thanks to having its token integrated into Mantra, a lot of the volume on the NFT marketplace has been shifted to TDH.
DogeTools
The multitool platform organized a Furry Frends weekend, a charity initiative where NFT mints proceeds went to Go Nirvana — a not-for-profit in India taking care of abandoned dogs.
DogeTools has partnered with Kupay — a deFi bank account platform! Kupay allows people to send, receive and request payments directly on the blockchain.
To continue the charity narrative, Dogetools will immediately start utilizing Kupay’s Donation Links features. This will allow the platform to receive donations through the Dogetools tipbot and transparently accumulate funds for charity initiatives in Telegram groups.
Wrap-up 🌯
We are extremely excited about everything that has been happening lately on Dogechain. The Dogechain team has been working closely with ecosystem builders to provide more utility for Doge and optimize the product-market fit of our blockchain.
Dogechain is bringing DeFi & long awaited utility to Dogecoin. Join the family!
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