Dogechain Remembers - The Renaissance.

20 Sep 2023, 16:42

Dogechain Remembers - The Renaissance 🎨 🤩 With the $DC token and mainnet up and running, the excitement for the #Dogechain network was rising exponentially. 🐶 Hundreds of projects and tokens were deploying on the chain, increasing the number of use cases for #DOGE with each new dApp. 🧑‍💻 In the meantime, the Dogechain dev team was working on a major use case for $DC tokens - Governance. As a community-first project, it was the logical step towards involving token holders more closely in the decision-making process. 🗳 The result was Dogegress, a decentralized governance platform. 👉 Released on Sep 22 2022, this app initially allowed $DC holders to use their tokens for voting on crucial advancements in the protocol, including grants, tokenomics changes, and general direction. ✨ And soon enough, a vote on major a tokenomics change was introduced - The Great Burn of 2022. 🗣 Following extensive feedback from the Dogechain community, this governance proposal aimed to align the long-term vision of the project with all tokenholders. To achieve this, the community voted to burn no less than 80% of the total unreleased supply of $DC tokens! After an exciting week, the vote passed with an overwhelming majority (99%!) in favor of the burn. 🙌 🔥 This resulted in the historic Great Burn on October 31 2022, one of the largest ever recorded in the blockchain industry! 🔗 Proof: 🚀 The Dogechain team irrevocably destroyed 800 billion $DC tokens, improving the long-term optics of the project for existing and future ecosystem participants. #️⃣ This event spurred even more interest in the project, allowing it to trend on major social platforms for several weeks in a row. However, many great things were yet to come! 👀