Dogelon Mars switches to DAO and performs community-driven token burn.

Ethereum Virtual Machine, April 2024 — Dogelon Mars, a community-driven memecoin project inspired by Elon Musk and his interstellar initiatives, recently burned $350,000 worth of $ELON tokens following an anonymous donation of the same amount. The deflation move was triggered by a community-led proposal adopted by the Dogelon Mars team, which set the stage for the project’s transition to a decentralized autonomous organization (DAO) framework.

By officially restructuring into a DAO, Dogelon Mars continues to put community feedback at the forefront of its operational decisions. This change comes on the heels of a token burn aimed at strengthening stronger decentralized governance going forward. This decision therefore supports Dogelon Mars’ commitment to expanding its ecosystem and nurturing its community.

Launching this initiative, Dogelon Mars’ official X account posted: “The community spoke… the DAO listened and acted… 1 trillion ELON was burned…” By heeding the community’s advice and permanently removing $350,000 worth of $ELON from circulation, Dogelon Mars reduced scarcity. Strengthen tokens by strengthening them. The timing, coinciding with the DAO pivot, energizes the community as the project works to release more products and announce future collaborations.

Dogelon Mars recently partnered with XSwipe-powered debit cards are designed to strengthen users’ financial portfolios with exclusive features that increase spending power. Users can load their preferred cryptocurrency onto the card and enjoy a variety of payment options.

The project also recently expanded its presence on the Solana blockchain by partnering with DeFi and NFT analytics platform Hello Moon. Through their partnership, Dogelon Mars and Hello Moon have built an advanced AI image generator for minting NFTs as part of Solana’s fledgling NFT ecosystem. Dogelon expects this collaboration to lead to further partnerships with other leading Solana-based teams.

“As memecoin continues to gain legitimacy, it is important that Dogelon Mars continues to expand its ecosystem by taking deflationary measures to protect the value of $ELON and provide new tools and services,” said Mark Wilson, Marketing Manager at Dogelon Mars. .” he said. “Ultimately, our community is the lifeblood of this project and this is the foundation of what makes us a DAO. “We are very excited about the direction Dogelon is headed in as we begin to unveil community voting and new products, in addition to securing more partnerships.”

Source: Dogelon Mars

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