Doodles is making a notable move by announcing the launch of a new $DOOD token based on Solana blockchain. This signals significant changes in the project's strategic direction.
$DOOD Tokenomics: How the Supply is Allocated
Doodles plans to issue a total of 10 billion $DOOD tokens. 30% will be allocated to community rewards, 25% to an ecosystem development fund, 17% to the development team, 13% to new investors or partners, 10% to liquidity providers, and 5% will remain with Doodles Inc.
Doodles' Strategic Shift
Initially launched as a 10,000-piece NFT collection, Doodles gradually collaborated with brands like McDonald's and Adidas. However, under the new leadership of Scott Martin, the company decided to focus on enhancing community engagement. The launch of the $DOOD token is a step in this direction.
$DOOD: A Memecoin or Something More?
Despite being initially announced as a memecoin, $DOOD is expected to evolve into a full-fledged utility token in the future. Doodles plans to comply with regulatory norms before embedding the token into a functional ecosystem.
With the launch of the $DOOD token, Doodles aims to strengthen community bonds and attract a new audience. The project is shifting towards more active user involvement in its ecosystem while maintaining allegiance to original values.
