Hello everyone,
Now that the redistribution has been deployed, I’d like to post an update on how everything has been going regarding the supply allocations. I think we have made incredible progress!
First of all, Pleasr correctly executed everything that was agreed to. They still hold a locked 10% of the supply, and deployed all LPs as planned. The first 2% LP has been completely absorbed by the market at time of writing.
We successfully created a wallet for Atsuko that ensures she holds 2% of the DOG supply.
We have successfully deployed a vesting contract for the 11% supply redistribution. This equates to about a 33% in holdings for all eligible recipients, greatly increasing how equitable the supply distribution is!
We decided against creating an L2 for DOG. It was our view that, although L2s have become significantly cheaper to build, that the running costs could potentially spiral out of control and that the operations required to successfully grow an ecosystem on our own chain are dramatically outside of our scope. Many other projects of similar size have decided to run their own chains and have run into these pitfalls. We have instead opted to allocate the 1% airdrop here to the existing airdrop pool.
Of the 5% allocated to OTC sales to raise funds for the treasury, half has been sold (2.5%).
Of the 3% for discretionary use, we have used ~2.5%.
We completed an extremely large airdrop on Base using 5% of the supply, increasing holders of DOG to over 1 million., along with various other airdrop incentives using an additional 2% of the supply. We have a remaining 5% for future airdrops.
The 6% for LP is currently being fully utilized by the DAO, as we will continue to do.
The ~1.37b (8% supply) of DOG remaining in the treasury is broken down as:
412m for OTC
106m discretionary
848m airdrops
We are intending to distribute as much of this as possible in the next year. If you have any questions or suggestions, please feel free to reply here!
Best,
Path