Yesterday, Doodles announced the launch of the DOOD token.
DOOD is the official token of Doodles, and it was launched on Solana. However, in the future, it should also land on Base, one of the main layer-2 of Ethereum.
Doodles and the launch of the DOOD token
Doodles is an on-chain collective that creates worlds and claims to generate billions of views through animations, short films, and partnerships with brands.
Declares to have 1.6 million followers, to have generated 86 million song streams, and to have distributed 100 million physical items.
They define themselves as a next-generation entertainment company focused on immersive storytelling through the creation and distribution of live and digital experiences, original content, and lifestyle products.
The co-founder of this project is the Canadian artist Burnt Toast, who has embarked on an unconventional path, moving from working in a design studio to becoming a world-renowned digital artist.
In addition to Burnt Toast, the Doodles project is based on collaboration with the creative agency Golden Wolf, specialized in short-term content and strategies and already an Emmy nominee.
In the last three years, the company has evolved into a new generation global entertainment brand, transitioning from creating animated content to presenting a full-fledged film at the Toronto International Film Festival, in addition to releasing music with world-renowned artists.
They declare:
“We are excited to continue undertaking initiatives that expand our community and create something, together, including DOOD”.
The token DOOD
The token will be a new way for the Doodles community to play within their ecosystem.
DOOD will be launched with a supply of 10 billion tokens on Solana, with a future bridge to Base.
68% of the tokens will be distributed to the community, while 25% will replenish the ecosystem fund and 17% will go to the team.
At this moment, not only is the DOOD token not yet present on exchanges, but its smart contract is not even known yet.
It is possible that the smart contract has not even been launched yet, so as of today, it is still just an announcement. It is therefore likely that fake tokens with the same name will be launched on the DEX, so it is necessary to be very careful.
To distinguish it from the fake ones, for now, you can only refer to the UCID uniquely assigned to it by CoinMarketCap, which is 35747. All tokens that do not have this UCID on CoinMarketCap are not the official DOOD token of Doodles.
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Solana
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By now, Solana has by far become the preferred platform for launching new tokens, surpassing both Ethereum and its layer-2s.
Not by chance, Donald Trump also chose Solana to launch his memecoin.
The fact is that on Solana launching a token is now very easy, so much so that literally anyone can do it. Furthermore, the costs of creation and launch are now extremely low, thus making it possible for many to embark on initiatives of this kind.
This has also led to the overtaking of the overall trading volumes of DEX on Solana compared to those on Ethereum, although when adding up all the volumes of the expanded Ethereum ecosystem including its layer-2, these remain higher.
On the other hand, Ethereum has chosen layer-2 as its scaling strategy, like Bitcoin, while Solana has chosen to continue operating primarily on layer-1. For now, this choice by Solana seems to have been successful, although in the long term, Ethereum’s strategy seems to have greater development opportunities.
