Bogecoin ($BOGE) Breaks 1 Million Marketcap in First 2 Days of Launch

3 min readApr 20, 2021

$BOGE is a newly released cryptocurrency on Binance Smart Chain network that aims to create an improved version of the original Dogecoin. By working from a model that improves tokenomics and rewards holders, the coin aims to provide a deflationary alternative to the success of the original DOGE.

Wildly Successful Launch

Within just a few hours of launch, $BOGE (bogecoin.org) took a meteoric rise going from $0.01 to $0.64 (6300 %) in just 7 hours of launch, and has continued consolidation and sustained growth since, reaching over 1 million marketcap.

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Tokenomics

BOGE is a deflationary autostaking coin with a fixed supply. No more BOGE can ever be minted. Every transaction 2% is burned and redistributed to token holders. The original DOGE uses mining which is electricity intensive, and has a large effect on our carbon footprint. BOGE being built on Binance Smart Chain is much more energy efficient.

contract: 0x248c45af3b2f73bc40fa159f2a90ce9cad7a77ba

Supply: 2,000,000

Initial Distribution

In order for the autostaking functionality to proportionally redistribute specific percentages to specific wallets, the initial coin distribution needs to reflect those percentages. The initial distribution of BOGE tokens is as follows:

50% in burn wallet
50% split between all holders

Over time, the burn wallet will take more of a percentage of total holdings, and the coin will become more and more deflationary, sending the price higher.

Isn’t Burning Tokens at Genesis Deceptive?

It many scenarios it definitely could be considered deceptive, because its not actually a true burn as it doesn’t remove coins from circulation, as they haven’t entered circulation yet. Scammy projects have used this trick to make it seem like more coins have been burned than actually have. When Bogecoin gives burn amounts, they do NOT count the original 1 million allocated to the burn wallet. It is burned at genesis so that the burn wallet makes up 50% of total supply (this will grow over time) and the autostaking distributes at least half of the transaction fees to the wallet. If the burn wallet started with zero, it would not receive more burned coins automatically because its proportion of total supply would be zero.

Autostaking

With the above distribution, the autostaking mechanism proportionally redistributes the 2% transaction fee to all wallets.

Keep in mind, anybody who is receiving BOGE in their wallet, should expect to receive 2% less than sent with the fee. However, they will also receive distributions from their own transactions, so the end user pays less than a 2% fee after redistribution is settled, and will continue to earn redistributions over time as more users transact.

Deflationary Burns

Reducing the supply of BOGE increases the price through deflation. Unlike many yield farming or staking projects that are burning tokens from what they mint, our burns are legitimately pulling coins out of circulation permanently. Real deflation will push the price higher by making all of the tokens more rare with every transaction. Since the burn address makes up 50% of total supply of BOGE initially, it will receive half of the 2% fee with every transaction. Over time the burn wallet will make up more than 50% and the burn wallet will consume more of the 2% transaction and become more deflationary.

The burn address can be seen here: 0x000000000000000000000000000000000000dead

How to Purchase BOGE

BOGE is a token on the Binance Smart Chain network and can be purchased on PancakeSwap using the following link with slippage set to 2.5%. Click HERE to purchase on PancakeSwap.