To celebrate the first anniversary of the Binance Gift Card, Binance has announced a prize pool of 10,000 Dogecoins (DOGE) for all participants.
Binance will distribute 10,000 Dogecoins
The leading crypto exchange has announced that it will give away 10,000 DOGE to celebrate the first anniversary of the Binance Gift Card.
#Binance Gift Card turns 1 on July 24 🎉
Send a #Binance Gift Card on July 24, 2022 for an opportunity to win some $DOGE!
Don't miss out ➡️ https://t.co/wFAAYC5BEW pic.twitter.com/LKngcAt5e3
— Binance (@binance) July 23, 2022
New users who meet the specified requirements will have the right to share a prize pool of 7,000 DOGE. On the other hand, existing users will share the 3,000 DOGE prize pool from midnight on July 24. However, users only have 24 hours from this date to participate in the prize pool of 3,000 DOGE.
Binance introduces rewards for Dogecoin users signing up for Binance Savings for the first time
The exchange announced a number of award-winning events throughout the week. One of them was special rewards for Dogecoin users signing up for Binance Savings for the first time. Binance has also launched new staking pools that allow users to earn up to 10% APY on staking. However, Binance’s sensations drew backlash from the Twitter community. This is because Dogecoin takes part in staking events despite using PoW. Binance later announced that cryptocurrencies invested in the recently announced staking program, such as Dogecoin using POW, will remain on the exchange and will not be loaned out for further returns. The stock market found its users right in this regard.
Dogecoin warns of scams
Following Binance’s announcement, Dogecoin issued a warning about scam scams. The team behind Dogecoin completely separates itself from such tokens. In a statement on Twitter, the team conveyed the following to the community:
There have been many tokens that have come and gone rapidly in the last nine years. There is 1 Dogecoin = 1 Dogecoin and only one Dogecoin which is its own Blockchain and is not directly associated with any token. Beware of scammers.
There have been many tokens over the past nine years that have quickly come and gone. 1 Dogecoin = 1 Dogecoin, and there is only one Dogecoin, which is its own blockchain, and not directly associated with any tokens. Beware of imposters. pic.twitter.com/nHp2lTqmz6
— Dogecoin (@dogecoin) July 22, 2022
On the other hand, Mishaboar, a popular Dogecoin focused Twitter account, informed about the ongoing work on the Dogecoin Payment Channel that will allow almost instant free Dogecoin payments between two parties. Mishaboar says the payment channels will ensure that the Dogecoin fee is paid only once. At the same time, he explains that he will allow locked Dogecoin to be spent.
IMPORTANT: LolaDam has worked on an implementation of Payment Channel for #Dogecoin together with @KBluezr and under the guidance of Patrick Lodder (@dismahburnah, who helped define the protocol).
Payment Channel allow near instant, feeless Dogecoin payments within two parties.
— Mishaboar (@mishaboar) July 22, 2022
Thanks to the payment channel, daily shopping becomes faster and less costly. The Dogecoin team also announced the release of Core 1.14.6 upgrade on Thursday, which introduces security updates and changes in network efficiency.
https://twitter.com/dogecoin/status/15499066188829008896
The new version, Dogecoin brings more security and efficiency. Meanwhile, the developers have changed the fee structure and other features along with the security fixes. For example, the recommended wage cap has been reduced from 1 DOGE to 0.01 DOGE. Other changes included configuring a wallet backup directory and limiting the maximum number of addnode records to 800. cryptocoin.comWe have covered the details in this article.
