The BabyDoge team has finally completed its burn portal.
The team behind canine-themed cryptocurrency Baby DogeCoin (BabyDoge) has announced the completion of the much-anticipated burn portal.
“Baby doge burn portal is complete!” the BabyDoge team tweeted today.
Following the completion of the BabyDoge burn portal, the team said it would soon announce the launch date for the protocol.
“Launch date coming soon. Stay tuned,” BabyDoge noted.
Baby doge burn portal is complete!
Launch date coming soon stay tuned 🐶
— BabyDogeSwap.com LIVE (@BabyDogeCoin) January 25, 2023
The announcement comes weeks after Baby Doge Coin declared the development of a burn portal that will allow users to incinerate BabyDoge tokens. In a January 12 tweet, the canine-themed cryptocurrency project said the burn portal would allow users to buy BabyDoge tokens at a discounted price when they burn the Coin via the protocol.
A few days later, the BabyDoge team shared a sneak peek of the burn portal to give its community members a feel of the project. The team has been planning to develop a burn portal in order to allow users to contribute directly to the crypto project’s ongoing burn campaign. Baby Doge team in November 2022 asked the community to suggest ways to incentivize users to burn tokens via a burn portal. BabyDoge also suggested it could reward users with Non-fungible tokens (NFTs) for burning tokens through the protocol.
BabyDoge Burn Efforts
Meanwhile, BabyDoge is poised to reduce its token’s total supply to boost the cryptocurrency’s price. The team has made significant progress toward reducing BabyDoge’s total supply from its initial 420 quadrillions.
Last month, the BabyDoge community burned more than 4.7 trillion tokens in one day. Similarly, a total of 5.5 trillion BabyDoge tokens have been burned from the token’s supply over the past 24 hours.
Following the latest batch of burns, the total number of tokens incinerated from the supply has surged to 201,250,525,628,753,696 (201.25 quadrillions). Burn BabyDoge, a Twitter handle that tracks Baby Doge Coin burns, shared the development today.
In the past 24 hours, 5,507,074,084,708 (~$7,275) #BABYDOGE tokens have been burned. So far, 201,250,525,628,753,696 #BABYDOGE tokens (47.917%) have been burned from the total supply of 420,000,000,000,000,000. #BabyDogeCoin #BabyDogeArmy @BabyDogeCoin
— Burn BabyDoge (@babydogeburn_) January 25, 2023
BabyDoge’s increasing burns have attracted the attention of leading cryptocurrency exchanges to the token. The cryptocurrency has been listed on top exchanges, including ProBit Global, Deepcoin, and the Singaporean crypto trading platform BingX.
At press time, BabyDoge is trading at $0.000000001261, according to data from Coingecko.