Memecoins are springing up on several blockchains these days. It started first with Shiba Inu and the others on Ethereum between 2020 and 2022.
These days, we have memecoins on several other chains like Solana and even Bitcoin.
The latest in line, however, is Polkadot.
Polkadot is set to witness the launch of its first meme coin: DED.
And according to reports, the new memecoin, which is inspired by the popular internet slang for "dead", is expected to bring some humor and excitement to the Polkadot community.
DED is the first memecoin to be deployed on the Polkadot chain, as well as the newest addition to the memecoin family
The coin is intended to be a homage to the Polkadot community and its ideal of a decentralized and interoperable web, according to its unknown developers, who go by the nickname, "The DED Team".
The DED Team announced the launch of the coin on 4 January, through a press release published on its telegram group, which, grew, by the way, from 0 to over 5,000 members within 7 days of launch.
According to the press release, DED will have the same quantity of 21 million coins as Bitcoin (BTC).
However, unlike Bitcoin, DED will be airdropped to all DOT holders, rather than being mined or minted.
Every DOT bearer who owns at least one DOT will get 0.1 DED during the airdrop on January 15, 2024.
The DED Team further also mentioned that they would not keep any DED for themselves and that there would be neither a presale nor a team allotment.
This, they explained, will prevent any centralization or manipulation.
A DAO will also be established to help the DED community suggest and decide on different elements of the coin, such as its name, logo, website, and marketing.
As previously announced, on January 15, 2024, DED will be airdropped to all DOT holders.
DOT holders must have their DOT tokens in a wallet or exchange that is compatible with the DED airdrop in order to be eligible.
The DED team also lists the supported wallets and exchanges, which include Coinbase, Kraken, Binance, Ledger, Trezor, Polkadot.js, and Parity Signe on its website.
After receiving the DED tokens, users will be able to trade them on various decentralized exchanges (DEXs) that support Polkadot-based assets, such as Polkaswap, Polkastarter, and Polkadex.
Overall, the DED ecosystem is expected to grow, and eventually include services like DED NFTs, a DED Bridge and DED Games.
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