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 specific use case or application to support the plunge. rather, Dogelon developers hoped to create a user-friendly, community-based crypto asset exchangeable to DOGE and other leading memecoin projects. There are many Dogecoin-inspired projects within the crypto space, but a independent way Dogelon Mars seeks to set itself apart from the tamp down is by specifically and directly appealing to Elon Musk – the founder 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 stick out.
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 community members. Dogelon ’ s community has earned a reputation for supporting crypto traders who have been scammed, and ELON crypto holders frequently send airdrops to rugpull victims in an feat to build good will and grow the Dogelon community. As a resultant role, Dogelon Mars has earned some respect within the broader crypto space, although it remains to be seen whether the project will succeed in the long function .
“ Plans ” for ELON : Crypto for Intergalactic Colonization ?
The declared determination of ELON token is to serve as an “ intergalactic currentness ” that future space colonizers can use on Mars and beyond. however, the undertaking team has not released a whitepaper or detailed roadmap outlining their development plans. Dogelon ’ s official web site and Medium posts largely consist of fabricated 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 year 2420 Mars will be re-colonized by Dogelon Mars, at which point the project ’ s most important plans will be revealed. The visualize ’ randomness storyline besides encourages the ELON crypto community to advocate for ELON nominal listings on major exchanges and remain audacious when confronted with crypto market excitability.
Dogelon Mars ’ developers have besides announced the approaching secrete of a new bet on feature that lets users stake their ELON tokens and earn a fresh token called xELON, which is being touted as a multifunctional token that will provide exciting modern incentives for the Dogelon Mars decentralized finance ( DeFi ) ecosystem. however, it remains ill-defined whether xELON is designed to enable decentralize administration or be used as a digital currency. digression from Dogelon Mars ’ obscure plans for multi-planetary expansion, the project has besides begun publishing a Dogelon-themed comedian series on its web site. An October 2020 Medium post published by the Dogelon team besides hinted at an approaching non-fungible token ( NFT ) launch and plans to launch a new token within the Dogelon Mars cryptoverse that will “ aid Dogelon Mars on his travel back to Mars. ”
ELON Token : Dogelon Mars Tokenomics
Like Bitcoin ’ mho and Shiba Inu ’ s, Dogelon Mars ’ founders remain anonymous to this day. The project web site claims that Dogelon Mars is a fork of Dogecoin, but there is little evidence to support this claim – particularly since the total ELON token supply far exceeds DOGE ’ second. What we do know is that Dogelon Mars is built on the Ethereum blockchain, meaning ELON is an ERC-20 token that can be well tracked on any Ethereum block internet explorer. Based on ELON ’ s on-chain history, it ’ mho clear that the Dogelon Mars crypto team did not conduct a token pre-sale, nor give project insiders early access to ELON tokens before its public introduction. rather, half of ELON ’ s total nominal issue was permanently locked up in a Uniswap liquid protocol upon launch, and the remaining half was sent to Vitalik Buterin, the co-founder of Ethereum. This move mirrored a strategy previously deployed by Shiba Inu, with the intent to reduce the project ’ s circulating supply and draw attention to its projects. Vitalik ultimately decided to donate most of his SHIB tokens to a COVID-19 easing charity in India and other non-profits, and similarly gifted his ELON tokens to multiple charities. The largest recipient of Vitalik ’ s ELON crypto donations was an organization called the Methuselah Foundation, a non-profit focused on ethical animation reference and regenerative medical therapies. Vitalik gifted about half his ELON tokens ( worth approximately $ 336 million USD at the time ) to the Methuselah Foundation. Following this contribution, the Foundation issued a press free promising to be creditworthy stewards of their ELON tokens. More specifically, the imperativeness free announced that the Foundation would hold their ELON tokens for at least a class, and that any future token sales would help preserve ELON ’ s respect while advancing the Foundation ’ s humanitarian goals. This announcement generated significant enthusiasm across the greater crypto community .