DogStonks Pro: The Anti-Whale, Anti-Bot Protocol
During this dip of epic proportions (this dip was historically huge, even in the crypto spaces standards), I’ve taken the free time I’ve gained from relentlessly watching my portfolio go up and down to continue researching new, up-and-coming Crypto projects. DeFi has exploded since 2020, and with that many new protocols. I was lucky enough to come across the original DogStonks when it was released in May 2021, and I’m happy to see they’ve made some adjustments to their tokenomics to provide a more sustainable ecosystem long term.
DogStonks Pro is an ERC20 Token (Contract Address: 0xe7a7ef72466167ff78e08ad76b12ca0c13c496e1) with a total supply of 1,000,000,000,000 tokens. There is a cap on how much $DOGPRO you can buy at once (5,000,000,000 tokens). It is currently listed on Uniswap as the only exchange available for trading.
$DOGPRO is the second version of DogStonks Token. It's loaded with innovative tokenomics and interesting smart contract functions that can really set itself apart from other DeFi protocols. I'm a couple of days late to the party (it was launched 6/18/21) but it's still early and it's corrected enough for what looks like a great entry position.
Like the original DogStonks protocol, the contract is designed to generate a positive price outlook through the lifetime of the project.
The code has been written from scratch and is completely unique. The fundamental premise is to ensure ‘diamond hands’ – in short users are unabe to sell the token at a loss. Users also cannot swap directly with one another through OTC deals or just to give tokens/airdrop them. Currently users can only swap DogStonks on Uniswap and as mentioned previously, cannot trade or sell to anyone or anything else. This restricts the ability of users to sell their own tokens at a loss and prevents dumping in the DogStonks ecosystem.
While the project is designed to go "up only", they do not promote a definitive profit or strategy to make money like common scams do. They tell it how it is as seen in their releases. Everything is clearly laid out in their extensive medium articles.
There are also anti-whale and anti-bot functions such as the cool down period where users must wait five minutes between trades and also the limit to buying and selling at most 0.5% of the supply at any one time. To be clear, these tokenomics are broken down separately to avoid confusion:
- At any given time, no user can sell more than 0.5% of the total supply at anytime. That means if you’re a whale and you own 5% of the supply, you can only sell 0.5%, every 5 minutes (if you are in profit)
- At any given time, no user can sell up to 0.5% of the total supply in no quicker than a 5 minute period enforced by a cooldown timer, preventing mass portfolio dumping, or from whales completely dumping
One of the more interesting and unique features I've seen about the new DogStonks ecosystem is the way they handled their LGE event. An hour before the project was launched, users had the option of contributing ETH to the DogStonks LP before launch. Users who provided ETH for liquidity BEFORE the launch of the project will be happy to hear their ETH is guaranteed, as the initial ETH provided is protected and was sent to a different LP, where it will generate rewards based on the 10% sales tax applied to those who take profit. This 10% pot builds over time, and when the profits are released, they will be distributed to original ETH LP providers.
It is extremely important to note that while users can still provide liquidity and ETH to the ecosystem, the ETH collected before the launch of the project is the only ETH sent to the separate LP that I’d protected. New liquidity providers will still expose their ETH to risk when providing liquidity after launch.
Did someone say ‘Safety net’? So if you cannot sell at a loss how do you get your money out. Well they’ve thought of that too. If there isn't a new ATH after 7 days, the ETH rewards are paid out to those sharing in the ETH pot, and the project concludes at that time. This means everyone can claim their share of what the project was worth at the end.
Then …conclusion which should say something about how this is an incredibly fun and clever piece of gamefication, brilliantly put together and coded. The team has proven their legitimacy having seen through the cycle of the first DogStonks already and all the eth was shared to the players. And with DogStonksPro it really does look so much better. One could argue and perhaps take a little warning that token doesn’t always ‘go up’ despite all their best efforts but when it does people do seem to make a lot of money indeed because the clever mechanics prevent people dumping and ruining the party. For what it’s worth I’ll be throwing a couple of ETH in during any dips and seeing where it goes!
Again, it's best that I reiterate to my readers that although these tokenomics set DogStonks up for future success, it doesn't guarantee the price will always go up. What this does mean though is that bots and whales can't dump the price and ruin the gains for those who want to take profit once they've made money on their trade. The gameification and additions of game theory into cryptocurrency code and functions is a beautiful thing, and it's for this reason that DogStonks is a needle in a hay stack. The development team was professional and open during the launch of v1 and many people enjoyed the benefits from that launch. At this point in time I'm looking to make an entry and benefit from the unique qualities this newer and improved protocol has to offer!