Binance has officially re-entered the $300 billion Indian crypto market after overcoming months of regulatory hurdles. The exchange received formal registration from India’s Financial Intelligence Unit (FIU-IND), marking its return in India after a seven-month operational ban due to compliance issues.
Alongside this milestone, Binance is excited to announce the listing of Dogs (DOGS) on its launcpool platform. DOGS, a memecoin from the Telegram community, will be introduced as the 57th project on Binance Launchpool, with farming set to start on August 23, 2024.
So are you new to Binance and looking for steps to farm DOGS? We present to you an all round explainer on how to begin trading with DOGS.
Binance Lists DOGS: What you should know?
Users can farm DOGS by staking BNB and FDUSD in separate pools. Out of the total 550 billion DOGS tokens, 22 billion are allocated for Launchpool rewards—85% from the BNB pool and 15% from the FDUSD pool.
Users can earn up to 25,972,222.22 DOGS per hour from the BNB pool and up to 4,583,333.33 DOGS per hour from the FDUSD pool, with rewards updated hourly.
DOGS will be officially listed on Binance on August 26, 2024, at 12:00 (UTC), with trading pairs including DOGS/USDT.
How to trade DOGS on Binance?
Step 1: Install and Set Up Trust Wallet
Download Trust Wallet from Google Play, the iOS App Store, or as a Chrome extension from the official website. Set it up by following the instructions, and make sure to securely save your seed phrase and note your wallet address.
Step 2: Buy BNB on Binance and Transfer to Trust Wallet
Log in to Binance, purchase BNB (Binance Coin), and then navigate to the “Withdraw” section. Choose the BNB Chain network, input your Trust Wallet address, and specify the amount to transfer. Confirm the transaction and wait for the BNB to arrive in your Trust Wallet
Step 3: Trade BNB for DOGS on a Decentralized Exchange (DEX)
Access a DEX like PancakeSwap. Connect your Trust Wallet to the DEX using your wallet address. Select BNB as the payment currency and DOGS as the token you want to buy.
Step 4: Locate DOGS Smart Contract if Necessary
As Dogs TGE is planned for aug 27, $DOGS is not listed, once TGE happens, go to BscScan to find the DOGS token’s smart contract address. Copy this address and paste it into PancakeSwap to find DOGS.
Step 5: Execute the Swap
Click the “Swap” button to exchange your BNB for DOGS tokens. After the transaction processes, DOGS will be in your Trust Wallet.
And yes! You will successfully buy DOGS tokens using Binance and Trust Wallet.
Conclusion
In conclusion, Binance’s re-entry into the Indian market and the introduction of DOGS on Launchpool have been met with great enthusiasm from the crypto community. Users are eagerly anticipating the opportunity to farm DOGS by staking BNB and FDUSD, with significant rewards available in the BNB pool. This move not only signifies Binance’s commitment to regulatory compliance but also highlights its strategic role in India’s dynamic crypto landscape.
Disclaimer: DOGS token has not been Launched yet, TGE is scheduled for Aug 27, post that you will be able to buy or sell the Token.
Also Read: Check Speculative Price of $DOGS ahead of Airdrop and Listing
