Doodles is making a major move by launching its new token $DOOD on the Solana blockchain. The project aims to integrate the token into its ecosystem while leveraging the growing memecoin trend.
$DOOD Tokenomics: How the Supply is Allocated
Doodles has unveiled a structured allocation plan for its 10 billion $DOOD tokens. 30% is allotted to the Doodles community, 25% to an ecosystem fund, 17% reserved for the team, 13% designated for 'new blood', 10% to liquidity providers, and 5% retained by Doodles Inc. This approach highlights a focus on community and ecosystem development.
Doodles' Strategic Shift
Originally a 10,000-piece NFT collection, Doodles has expanded into entertainment, animation, and music ties with partners like McDonald's, Adidas, and Pharrell Williams. However, some crypto holders felt the focus shifted to corporate connections. CEO Scott Martin, acknowledging the issue as the 'futon effect', aims to refocus on the core community. The launch of $DOOD is part of this strategic shift.
$DOOD: A Memecoin or Something More?
Though initially referred to as a memecoin by Scott Martin, the aim is to transition $DOOD into a utility token. Emphasis was placed on legal compliance before introducing advanced functionalities. The plan to bridge $DOOD to Coinbase’s Base network suggests a goal of multi-chain adoption and broad distribution.
Doodles' new $DOOD token reflects the company's ambition for multi-chain distribution, moving into the memecoin market with planned utility functionality. The relaunch and strategic focus on the community are central to Doodles' future development.
