Ethereum Virtual Machine, April 2024 — Dogelon Mars, the community-focused memecoin project inspired by Elon Musk and his interstellar initiatives, recently burned $350,000 worth of its $ELON token following an anonymous donation of the same amount. The deflationary move is sparked by a community-led proposal adopted by the Dogelon Mars team—setting the stage for the project’s transition to a DAO (decentralized autonomous organization) framework.
By formally restructuring to a DAO, Dogelon Mars continues to put community feedback at the forefront of its operational decision-making. The shift arrives on the heels of the token burning to solidify more robust decentralized governance going forward. As such, the decision underpins Dogelon Mars’s dedication to expanding its ecosystem and community cultivation.
Kicking off this initiative, the official X account of Dogelon Mars posted: “The community has spoken… The DAO listened and acted… 1 trillion ELON was burned…” By heeding its community’s advice and permanently removing the $350,000 worth of $ELON from circulation, Dogelon Mars strengthens its token by enhancing its scarcity. Coinciding with the DAO pivot, the timing reinvigorates its community as the project works to launch more products and announce future collaborations.
Dogelon Mars recently partnered with XSwipe to create the Dogelon Global Access debit card, enabling the seamless ability to use crypto in retail environments in more than 200 countries and territories. The XSwipe-powered debit card is designed to enhance users’ financial portfolios with exclusive features to boost spending power. Users can load their preferred cryptocurrencies to the card and enjoy multiple payment options.
Additionally, the project recently partnered with DeFi and NFT analytics platform Hello Moon to expand its footprint in the Solana blockchain. Through the partnership, Dogelon Mars and Hello Moon have built an advanced AI image generator to mint NFTs as part of Solana’s budding NFT ecosystem. Dogelon expects this collaboration to snowball into more partnerships with other leading Solana-based teams.
“As memecoins continue to gain legitimacy, it’s critical for Dogelon Mars to continue expanding our ecosystem by taking deflationary measures to protect the value of $ELON and provide new tools and services,” says Mark Wilson, Marketing Manager at Dogelon Mars. “At the end of the day, our community is the lifeblood of this project and this was the basis for us becoming a DAO. In addition to securing more partnerships, we couldn’t be more excited about the direction Dogelon is heading in as we start to unveil our community voting rights and new products.”
Source: Dogelon Mars
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