1 minute read
Utility for Dogecoin through DogechainPOLYCON 2023
from The polycon Issue
by Cryptoweekly
Dogecoin is the original meme coin and has been around for nearly a decade. Over the years, it has amassed one of the strongest communities of passionate followers and supporters. And while $DOGE retains a strong narrative as a payment cryptocurrency, it lacks the technological advancements to allow its holders to participate in the ongoing Web3 revolution.
The Layer2 narrative has been a driving force in the blockchain industry, with Polygon leading the charge. Dogechain, a sovereign blockchain built with Polygon Edge technology, allows Dogecoin to be plugged into smart contracts and gain advanced use cases. In a nutshell, users can now freely participate in Web3 by accessing DeFi, NFTs, and blockchain games with their Dogecoin.
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From Feb 23-25, Dogechain will be attending Polycon 2023, the largest metaverse conference for everything Polygon-related. The project will be showcasing all of these new use cases for
Doge during this 3-day event, where some of the biggest thinking heads of the industry will be present.
Dogechain Explained
As we mentioned in our intro, despite its well-established fan base and loyal holders, Dogecoin cannot support any of the consumer applications powered by blockchain. Dogechain solves this by introducing a layer-2 solution for Dogecoin, supercharging the meme crypto with smart contract capability.
Dogechain is a scalable, standalone layer-2 EVMcompatible blockchain created using the Polygon Edge/ Supernets framework. It serves as a smart contract layer for the original Dogecoin (Scrypt) cryptocurrency by allowing people to bridge their $DOGE and use it as gas on the chain.
Consequently, it allows Dogecoin holders to utilize their favorite meme coins for accessing advanced blockchain features, such as DeFi, NFTs, blockchain games, and consumer applications.
Advanced Use Cases for DOGE
The Dogechain blockchain allows Dogecoin to become a Web3 powerhouse through a wide array of new use cases such as:
DeFi applicationsDOGE holders can access decentralized financial instruments like lending, borrowing, or LP farming with their memecoins.
Doge-powered NFTs - users can mint NFT collections by using wrapped Doge on the chain, making Dogechain NFTs immediately accessible to holders of the memecoin.
Consumer-oriented dApps - as Web3 evolves, Dogechain will inevitably attract high-volume Web
2.0 applications like social media, streaming platforms, games, etc thanks to its EVM compatibility.
Consequently, Dogechain stands out as the ultimate platform for creating utility for Dogecoin and allowing millions of users introduced to Web3 and decentralization.
Meet the Builders at Polycon 2023
During Polycon 2023, the top builders adding utility to Doge will be showcasing their projects at the conference. Users will be able to meet and greet these game changers and participate in AMAs that will allow them to understand the potential of this new platform.
