Baby Doge has unveiled a long-awaited non-fungible token (NFT) collection, which was made “by admirers of the DogeCoin online community” and “seeks to impress his father by showcasing his new increased transaction speeds & adorableness.”
Before the public mint, the project’s NFTs were available for whitelisted users to mint. To commemorate the day, the whitelisted mint went online on April 20 (4/20) at 4:20 PM EST, with each whitelisted user able to mint a maximum of three BabyDoge NFTs.
BabyDoge NFT collection consists of 10,000 distinct Baby Doges created using 200 different qualities such as their eyes, headdress, attire, and more. Each token is kept on the Ethereum blockchain as an ERC-721 token and hosted by the Interplanetary File System (IPFS).
The unveiling of the NFT collection appeared to be a success, as Baby Dogecoin quickly became a trending topic on Twitter.
Because the cryptocurrency is supposed to grow rarer over time, it is “hyper-deflationary.” Every transaction on the Baby Doge network generates a 10% fee, of which 5% is handed to token holders and half is added to the network’s liquidity.
It’s worth noting that $BABYDOGE’s initial supply was 420 quadrillion tokens, with almost 125 quadrillions already burned. It can only be traded on PancakeSwap, a decentralized exchange.
According to its website, the coin was established on the Binance Smart Chain on June 1 with the goal of saving as many puppies as possible.
BABYDOGE’s price jumped last year ahead of its NASCAR debut, as CryptoGlobe reported. The cryptocurrency made its NASCAR debut, with BABYDOGE branding on driver Brandon Brown’s No. 68 Chevrolet Camaro.
Supporters of the meme-inspired cryptocurrency campaigned earlier this year to get the token listed on Binance, a large cryptocurrency exchange, through a campaign in which the trading platform invited users to express wishes in the hopes of seeing some of them come true. It has yet to be listed on Binance.
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