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QuickSwap representatives say that their new meme token may have increased utility over time. They are considering a variety of use cases such as gaming, NFTs, and other fun, memetic activities on Dogechain.

QuickSwap V3 Contracts are deployed and live on Dogechain

The QuickSwap team made a governance vote to launch their V3 DEX  on Dogechain. That vote concluded at 9 AM PDT on August 18th with 88.73% in favor of both launching the DEX and creating a new meme token to be used for liquidity mining rewards on QuickSwap’s Dogechain extension.



For the wDOGE-USDC pair on DogeChain, QuickSwap started awarding 100k DD/day in liquidity mining incentives at 3 PM PDT on August 18th, 2022.

What is Dogechain?


Dogechain is a proof-of-stake (PoS) blockchain built using Polygon Edge technology..  Polygon is the leading sidechain within the Ethereum Virtual Machine (EVM) network. Thus, like Polygon, Dogechain will support tokens and applications that were originally designed for Ethereum and other EVM chains.

Dogechain describes itself as a "Layer 2 for Dogecoin" on its website. For $DOGE holders, it claims to deliver DeFi, NFT, DApp, and gaming use cases. Crypto’s original  meme coin - DOGE - will now have the utility it has been lacking since its conception.

It’s important to note, however, that Dogechain is not a genuine layer-2 solution for Dogecoin. Instead, Dogechain is based on Polygon Edge, a specialized blockchain solution. The new chain brands itself as a layer 2 for Dogecoin because it uses Dogecoin for gas and virtually anything Dogechain users want to do there.

Additionally, Dogecoin employs the same proof-of-work consensus algorithm as Bitcoin. The Secure Hash Method 256-bit is used by Bitcoin, whereas Dogecoin employs the Scrypt mining algorithm. While this makes Doge a little bit faster, it may still face future scaling problems, in addition to PoW's environmental challenges.

While Dogecoin’s use case is incredibly limited, Dogechain offers users the ability to access an ecosystem of DeFi goods, NFTs, and GameFi. Users can bridge DOGE or wDOGE to Dogechain using the multichain bridge.. From there, they can play, stake, and trade NFTs to increase their token balances. Additionally, they can engage in DeFi activities like lending, borrowing, and liquidity mining using their wDOGE.

QuickSwap and Dogechain
QuickSwap is the first legitimate, audited DEX on Dogechain.

The site is now officially launched at https://dogechain.quickswap.exchange/#/swap. In addition, QuickSwap created a new meme token - known as DogeDragon $DD - to pay liquidity mining rewards on their new Dogechain extension. Currently, QuickSwap is rewarding the wDOGE - USDC pair and the wDOGE - ETH pair with 100,000 DD/day.

QuickSwap representatives say that their new meme token may have increased utility over time. They are considering a variety of use cases such as gaming, NFTs, and other fun, memetic activities on Dogechain.

QuickSwap’s foray into meme tokens is a unique experiment that no other DEXs have yet undertaken. So far, the community is not responding well to the notion that the token has high volatility, little liquidity, and very limited use cases. It seems few understand what “meme token” means.

DogeDragon ($DD) Tokenomics & Distribution

The DogeDragon’s total supply is 1 billion tokens, which are distributed in part 50% to Dragon’s Lair stakers, 40% to liquidity providers for pairs on QuickSwap’s Dogechain extension, while the rest of the distribution will be allocated to the QuickSwap team members. Trading fees will be majoritarily distributed to liquidity providers.

QuickSwap rushed to launch their V3 on Dogechain to protect Dogechain’s community from the many unaudited and untrusted DEXs that were springing up on the new chain. Sameep Singhania - QuickSwap Co-Founder and lead developer - told Matic News, “We needed to move quickly to ensure that Dogechain had a legitimate, audited DEX with a proven track record. We’re thankful for the community’s support in helping us protect Dogechain’s community from the other DEXs that may not have their best interests at heart.”  

You can access the QuickSwap Dogechain AMM Here

Written By

Petrache Ionut

Aug 20, 2022