Baby Dogecoin (DOGE), a trending Meme Coin digital currency has announced a groundbreaking proposition to burn 100 quadrillion crypto tokens, through a tweet from its official Twitter account. The initial proposal was submitted for voting by the decentralized autonomous organization (DAO) that governs the project.
Groundbreaking 100 Quadrillion Crypto Token Burn
Baby Dogecoin (DOGE) Coin will burn its 100 quadrillion tokens to bolster security and fortify the integrity of the project. The scheduled date for the crypto token burn is June 1st. Proceeding this, approximately 85 quadrillion Baby Dogecoin (DOGE) crypto tokens will remain available for bridging to Ethereum.
Alongside the crypto token burn, the initiative likewise includes a 0 percent fee reduction for transactions on the Ethereum (ETH) network.
Read More About The Proposal..
The primary motivation behind the proposition is to address concerns regarding the capacity exploitation danger associated with the 100 quadrillion idle crypto tokens since Baby Doge’s launch on the Ethereum (ETH) network.
The group mentioned reasons in an official statement about the burn during the proposal:
“reduce potential exploitation danger associated with them.”
Furthermore, this initiative seeks to allocate some crypto tokens for bridging to Ethereum (ETH) while reducing transaction charges on the network to 0%.
Baby Dogecoin (DOGE) and its Milestones
1 potential drawback was brought to this proposition. In the event of any issues or disruptions with the Binance Crypto exchange Smart Chain (BNB), only 85 out of the total 155 quadrillion Baby Dogecoin (DOGE) crypto tokens would be eligible for migration to the Ethereum (ETH) network.
The Baby Dogecoin (DOGE) team remains optimistic that this crypto token burn will strengthen the project’s security, reduce charges, and strengthen its overall value proposition.
BabyDoge is ranked 210 on Coinmarketcap with a market capitalization of $300,789,653, at the time of writing. The BabyDoge community has achieved a remarkable feat by setting a new Guinness World Record for the most pet food donated in 24 hours, solidifying their position as record holders and showcasing their commitment.
In addition, the community celebrates another milestone as their partnership with $NOOT coin leads to a whole lot of surge of 60 percent in its price, highlighting the collaborative success of both projects.