Baby Doge, a cryptocurrency created “by fans of the Doge Coin online community” that “seeks to impress his father by showing his new improved transaction speeds & adorableness” is donating $400,000 to dog rescue organizations thanks to the success of its non-fungible token (NFT) collection.
As CryptoGlobe reported, Baby Doge’s NFT collection was launched on April 20 for whitelisted users ahead of a public mint. The collection is made up 10,000 unique Baby Doges generated through the use of 200 potential traits that include their eyes, headwear, their clothing, and more. Each token is stored as an ERC-721 token on the Ethereum blockchain and hosted via the Interplanetary File System (IPFS).
Baby Doge was launched June 1 on the Binance Smart Chain with a mission to save as many dogs as possible, according to its website. On social media, the project’s account tagged several dog rescue organizations.
The cryptocurrency is “hyper-deflationary” as it is designed to become more scarce over time. Baby Doge holders receive more tokens automatically as every transaction on its network incurs a 10%, out of which 5% are distributed among token holders, and half are added to its liquidity.
The cryptocurrency project has recently celebrated its 11-month birthday by burning four quadrillion BABYDOGE tokens. Over 45% of the cryptocurrency’s supply has now been burned thanks to the celebratory move.
Earlier this year, supporters of the meme-inspired cryptocurrency rallied to get the token listed on leading cryptocurrency exchange Binance through a campaign the trading platform launched where it asked users to make wishes in a bid to make some of them come true. Binance hasn’t yet listed it.
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