Dogechain Guide: A New Dimension of Meme Culture

Original Title: 《What Is Dogechain? How Does It Work? A Detailed Guide》

Author: Joel Agbo, Coingecko

Compiled by: Biscuit, Chain Catcher

On August 13, 2022, a development team launched Dogechain, which immediately showed impressive growth statistics. Within just 72 hours of its launch, over 20,000 new wallets were created on Dogechain, and more than 200,000 transactions were completed. Dogechain was enthusiastically embraced by the crypto community, but what exactly is Dogechain?

Dogechain is an EVM-compatible blockchain built using the Polygon SDK, designed to establish efficient connections between Dogecoin (DOGE) and Web3. The infrastructure of Dogechain allows DOGE holders to transfer their DOGE to a blockchain with more possibilities, enabling DOGE to seek more yield opportunities.

Dogechain provides developers with a platform to build DeFi, GameFi, NFT platforms, and other decentralized applications that use DOGE as their core economic system. Since the network is EVM-compatible, developers from Ethereum and other EVM blockchains can easily build new applications or port existing ones to Dogechain without changing their original code or learning a new programming language.

Dogechain operates on a Proof of Stake (PoS) algorithm, aimed at exploring more use cases for DOGE and other crypto communities, allowing DOGE holders to enjoy a scalable, fast, and inexpensive blockchain. The Dogechain community aims to create popular NFT, DeFi, and Web3 platforms while maintaining the core characteristics of the original DOGE community.

How Does Dogechain Work?

Compared to other blockchain networks, Dogechain's unique feature is its ability to interact with the DOGE blockchain. Aside from that, Dogechain is similar to Polygon and other EVM-compatible PoS chains.

Transferring DOGE to Dogechain involves a special cross-chain process that requires a cross-chain application to wrap DOGE. Once wrapped, a new token called doge will be created, pegged to the value of DOGE on Dogechain. For example, when you use Dogechain's cross-chain application to wrap 100 DOGE, you will receive 100 wrapped doge (wDOGE) in your Dogechain wallet. The wrapped DOGE is pegged to the value of DOGE and can be easily bridged across both platforms.

Relative to DOGE, wDOGE on Dogechain can be used for blockchain governance, paying transaction fees, and as a utility token on Web3 platforms.

How to Add Dogechain to MetaMask

As of the writing of this article, MetaMask and Clover Wallet are the only wallets that support Dogechain. Users can add Dogechain to the MetaMask browser extension by visiting the cross-chain bridge.

Click "Connect Wallet" and follow the prompts above.

Manually Adding Dogechain Network

Log into your MetaMask, click on the network bar in the upper right corner of the wallet, and select "Add Network" from the dropdown menu.

In the pop-up form, fill in the following details accordingly:

• Network Name: Dogechain
• New RPC URL: https://rpc01-sg.Dogechain.dog
• Chain ID: 2000
• Symbol: WDOGE

Click save, and you can now access the Dogechain network through your MetaMask wallet.

How to Use Dogechain

First, you need to connect your DOGE tokens to Dogechain:

Visit the bridging bridge. Connect your wallet and select the desired route for cross-chain.

Since you are bridging to Dogechain, the indicated route should be from Dogecoin to Dogechain.

Click confirm to display the DOGE transfer address. Send the amount of DOGE you wish to cross-chain to the provided address.

Make sure to send more than 100 DOGE. Only DOGE should be sent to the DOGE address.

After 6 block confirmations on the blockchain, you will receive wDOGE in your Dogechain wallet. wDOGE can be used like ETH.

Is Dogechain Safe?

At the blockchain level, Dogechain's developers have adopted various protocols and smart contracts to address attacks from malicious operators and penalize defaulters where possible.

The slashing protocol enhances Dogechain's security by automatically penalizing defaulting validators. The slashing protocol punishes validators for losing blocks or validating multiple blocks simultaneously. This mechanism, along with other security algorithms, ensures that the blockchain operates without security vulnerabilities.

However, much of Dogechain's infrastructure is still in early development stages and may be prone to instability, severe failures, and exploitation by hackers. DOGE holders should pay more attention to cross-chain applications to avoid asset loss due to erroneous bridging. Additionally, users need to be more cautious when interacting with the network's protocols and platforms.

Dogechain Token (DC)

The Dogechain token (DC) will be the native token of Dogechain. Before its release, developers will focus on building most of Dogechain's utility around DC, with DC and wDOGE being the two main coexisting tokens of Dogechain. However, over time, DC will become the preferred token for all activities on Dogechain.

The total supply of DC tokens has been pre-mined at the launch of the Dogechain network. 60% of the total supply will be allocated as block rewards to validators and stakers and distributed to DOGE holders in the form of airdrops. The remainder will be used to fund marketing and development plans for the Dogechain ecosystem.

DC holders will be able to pay transaction fees, vote on governance proposals, and use DC to set up validation nodes. Validators on Dogechain need to lock at least 10,000,000 DC to run a node.

Dogechain Governance Model

Dogechain operates as a decentralized autonomous organization (DAO). DC token holders must lock their tokens for up to 4 years to participate in governance activities.

Governance participants will receive governance tokens (VeDC) related to the amount of locked DC and the chosen locking period. Holders who lock their tokens for the maximum duration (4 years) will receive four times the amount of locked VeDC.

That is to say, if you lock 10 DC tokens for 4 years, you will receive 40 VeDC. VeDC is used in governance forums to vote on proposals or create improvement proposals.

DOGE and Dogechain

The original vision of DOGE and the DOGE blockchain was to simplify payment systems and add fun.

The creators of DOGE focused on developing a blockchain that could rival Bitcoin's payment technology and promote cryptocurrency to more people through a friendly and generous community. Unfortunately, the utility of DOGE stagnated. The DOGE blockchain lacks the infrastructure for emerging technologies such as DeFi, GameFi, and NFTs. Therefore, Dogechain aims to change that and expand the utility of DOGE.

Dogechain complements DOGE. It continues to push the community forward from where DOGE left off. With Dogechain, DOGE has found use cases at the forefront of blockchain technology.

Now, DOGE holders can explore more yield opportunities with their DOGE instead of simply leaving them in a wallet, paying service fees, or donating to charity. On Dogechain, DOGE holders can bridge their DOGE and use them on DeFi platforms, blockchain gaming platforms, and yield farms.

Dogechain and Memes

DOGE places great importance on meme culture. Dogechain will continue this tradition. DOGE brought fun to the "payment technology" era of blockchain technology and cryptocurrency. Dogechain hopes to bring the same atmosphere to the Web3 era of blockchain technology development.

Dogechain retains DOGE's dog theme and humorous vibe. It will also maintain community engagement, providing a lower barrier to entry for cryptocurrency and blockchain enthusiasts. By airdropping Dogechain tokens to DOGE holders, Dogechain builds on an early, generous, and highly engaged crypto community. Dogechain will attempt to continue nurturing meme culture on this foundation.

Final Thoughts

Dogechain represents a new dimension for DOGE and the DOGE community—more utility. It transforms DOGE into a multi-purpose token. The DOGE community is a leader in the meme coin space, and Dogechain is a new case in that direction.

Dogechain will build on the reputation created by DOGE and its community. It even attempts to go beyond that and establish a robust ecosystem to sustain its development and enhance the value of both DOGE and its own token, DC.

It is worth noting that Dogechain's technology is still in the early stages of development. Its core protocols and algorithms may be prone to anomalies, and users are advised to exercise caution when using it. As with any new technology, precautions should be taken against vulnerabilities.