What Is Dogelon Mars? A DOGE-ELON Coin Hybrid | Gemini

Dogelon Mars is a memecoin undertaking that seeks to create an “ intergalactic currency ” for future space colonizers, and their residential district is aiming past the moon. Dogelon Mars is one of several dog-themed memecoin projects to arise in 2021, following the success of Dogecoin and Shiba Inu. however, Dogelon claims loftier ambitions than the rest of the pack – the project ’ mho stated function is to create an “ intergalactic currency ” that future space colonizers can use on Mars and beyond. That said, the stick out ’ s basal keepsake, ELON, has few real-world use cases as of early on 2022, and some of the project ’ s goals are clearly meant to be bantering. But Dogelon Mars ’ enthusiastic supporters may ultimately steer the project towards new opportunities, earthbound or differently .

overview : What Is Dogelon Mars ?

Dogelon Mars was one of several dog-themed memecoin projects to arise in 2021 following the rapid rise of projects like Dogecoin ( DOGE ) and Shiba Inu ( SHIB ). While the Dogelon Mars crypto project launched with a native token, ELON, the asset did not boast any particular use case or application to support the establish. rather, Dogelon developers hoped to create a user-friendly, community-based crypto asset like to DOGE and other leading memecoin projects. There are many Dogecoin-inspired projects within the crypto space, but a main room Dogelon Mars seeks to set itself apart from the clique is by specifically and directly appealing to Elon Musk – the laminitis and CEO of Tesla and SpaceX. Elon Musk has a reputation for engaging with the crypto Twittersphere in an improper and impactful manner, and the Dogelon Mars community is unified in calling on Musk to support the project.

As of January 2022, over 100,000 crypto addresses hold ELON tokens, and Dogelon Mars presently has over 320,000 Twitter followers and 85,000 Telegram residential district members. Dogelon ’ s community has earned a reputation for supporting crypto traders who have been scammed, and ELON crypto holders much send airdrops to rugpull victims in an feat to build good will and grow the Dogelon community. As a solution, Dogelon Mars has earned some respect within the broader crypto distance, although it remains to be seen whether the plan will succeed in the farseeing run .

“ Plans ” for ELON : Crypto for Intergalactic Colonization ?

The express aim of ELON token is to serve as an “ intergalactic currentness ” that future outer space colonizers can use on Mars and beyond. however, the project team has not released a whitepaper or detailed roadmap outlining their development plans. Dogelon ’ s official web site and Medium posts largely consist of fictional backstories involving multi-planetary colonization, written from the perspective of a galaxy-brained canine android that loosely resembles Elon Musk. According to official Dogelon Mars lore, in the class 2420 Mars will be re-colonized by Dogelon Mars, at which point the stick out ’ s most significant plans will be revealed. The plan ’ sulfur storyline besides encourages the ELON crypto community to advocate for ELON nominal listings on major exchanges and remain unafraid when confronted with crypto market volatility.

Dogelon Mars ’ developers have besides announced the approaching publish of a new bet on feature of speech that lets users interest their ELON tokens and earn a new keepsake called xELON, which is being touted as a multifunctional nominal that will provide exciting new incentives for the Dogelon Mars decentralized finance ( DeFi ) ecosystem. however, it remains ill-defined whether xELON is designed to enable decentralized administration or be used as a digital currency. digression from Dogelon Mars ’ dim plans for multi-planetary expansion, the project has besides begun publishing a Dogelon-themed comic series on its web site. An October 2020 Medium mail published by the Dogelon team besides hinted at an approaching non-fungible token ( NFT ) establish and plans to launch a new nominal within the Dogelon Mars cryptoverse that will “ aid Dogelon Mars on his travel back to Mars. ”

ELON Token : Dogelon Mars Tokenomics

Like Bitcoin ’ randomness and Shiba Inu ’ randomness, Dogelon Mars ’ founders remain anonymous to this day. The project web site claims that Dogelon Mars is a branching of Dogecoin, but there is small attest to support this claim – particularly since the total ELON nominal supply far exceeds DOGE ’ sulfur. What we do know is that Dogelon Mars is built on the Ethereum blockchain, meaning ELON is an ERC-20 nominal that can be easily tracked on any Ethereum parry internet explorer. Based on ELON ’ s on-chain history, it ’ randomness well-defined that the Dogelon Mars crypto team did not conduct a keepsake pre-sale, nor give project insiders early on access to ELON tokens before its public debut. alternatively, half of ELON ’ s total token supply was permanently locked up in a Uniswap fluidity protocol upon launching, and the remaining half was sent to Vitalik Buterin, the co-founder of Ethereum. This go mirrored a scheme previously deployed by Shiba Inu, with the intent to reduce the project ’ s circulating add and draw attention to its projects. Vitalik ultimately decided to donate most of his SHIB tokens to a COVID-19 stand-in jacob’s ladder in India and other non-profits, and similarly gifted his ELON tokens to multiple charities. The largest recipient role of Vitalik ’ s ELON crypto donations was an arrangement called the Methuselah Foundation, a non-profit focused on ethical life reference and regenerative aesculapian therapies. Vitalik gifted closely half his ELON tokens ( worth roughly $ 336 million USD at the time ) to the Methuselah Foundation. Following this contribution, the Foundation issued a wardrobe let go of promising to be responsible stewards of their ELON tokens. More specifically, the press acquittance announced that the Foundation would hold their ELON tokens for at least a year, and that any future token sales would help preserve ELON ’ s value while advancing the Foundation ’ second humanitarian goals. This announcement generated significant exuberance across the greater crypto residential district .

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