LunaDoge weekly statistics
Our holders and transactions went up thanks to the CoinGecko listing! Unfortunately, last week crypto endured one of its annual crashes where alt coins declined by 50% or more. Since our liquidity consists of BNB, the dollar value of our liquidity has decreased by 21%. When we look at the BNB included in the pool, our liquidity has actually increased by 32%. The price of LOGE is based on the BNB to LOGE ratio of the liquidity pool, so when the whole market inevitably goes up again, so does our liquidity and market cap!
Weekly achievements ✅
1. We were listed by CoinGecko and LiveCoinWatch! One of our most important goals was to be listed by the top 2 cryptocurrency aggregator websites. The CoinGecko listing increases the legitimacy of the project. We are no longer dependent on Poocoin and can now refer to legitimate websites for a price check!
2. LunaDoge has been integrated in the TrustWallet app. TrustWallet users can now see the LunaDoge logo and balances and will no longer have to copy paste the whole contract address to see their balances.
3. The first successful DAO proposal has passed! 59 addresses voted in favor of the proposal and 0 against. In order to successfully pass, a proposal needs at least 100 trillion LOGE in votes, as well as a two-thirds majority. The 59 votes amounted to 152 trillion LOGE (15.2% of the total supply). We will disclose our intentions on how to implement the proposal later on in the article.
In progress ⏳
1. CoinMarketCap listing. Now that we were listed by CoinGecko, we expect CoinMarketCap to list us shortly. We’ve been keeping them updated by sending over our weekly progress reports.
2. Marketing strategy. Our marketing wallet took a hit thanks to the crypto crash, but we have a proper strategy in mind which should maximize the impact of the DAO proposal.
3. Medium article explaining our rewards and liquidity mechanism. We will also provide a sensitivity analysis of all possible scenarios based on competitor volume and price.
Buyback and burn 🔥
Our very first DAO proposal has passed the requirements and will be implemented soon! We will remove 30% of the liquidity. The liquidity consists of an equal share in LOGE and BNB. The proposal states that we will BURN the LOGE and use the BNB to buy back LOGE and subsequently burn that LOGE.
Currently, 30% of liquidity consists of 175 BNB and 38 trillion LOGE. If we used that 175 BNB to market buy LOGE, the price would increase by ±105% and roughly 30 trillion LOGE would be bought. The total effect of the buyback is a burn of 68 trillion LOGE (6.8%) and a price increase of more than 2x. After the buyback and burn, over 100 trillion LOGE (10%) will be burned! The LP tokens unlock on May 28 and we will perform the buyback and burn within a couple of days.
Telegram Group: https://t.me/lunadogecrypto
Telegram ANN: https://t.me/lunadogeofficial
Github: https://github.com/LunaDogeFinance
Medium: https://lunadoge.medium.com/
Twitter: https://twitter.com/Luna_Doge
Website: lunadoge.finance
