Welcome…
To a new frontier. Ethereum is cool. Arbitrum is cool. A network that allows ETH investors to transact seamlessly for a fraction of the cost of the Mainnet is a real game-changer. The demand for ETH scaling is evidenced by the rapid influx of liquidity and the parabolic rise of Total Value Locked on the Arbitrum network within just weeks of launch. The ability to operate on ETH for cheap is certainly selling. Some could argue that ETH rollups like Arbitrum are the endgame scaling solution for Ethereum.
Dog Money Is Real…
And it is bountiful. Dogecoin has outperformed every single large-cap cryptocurrency on the year, by a longshot. Dogecoin and forks alike have made millionaires by the boatload. The prowess of dog money is undeniable. So naturally, the opportunity to seize a portion of the market share of the Dogecoin phenomenon arose with the launch of the Arbitrum Network. In the spirit of Dogecoin and pioneering, Arbidoge was born.
As Of Now…
ADOGE is closing in on 2,000 holders and maintaining a market cap in the $2m range, which is quite a long way from just $20,000 at launch, and a stone’s throw from the $10m that was just 30 hours post-launch. Telegram is +1,000 members strong. ADOGE has seen natural engagement from legendary and everyday DeFi personalities alike. Independent farming protocols have included ADOGE in their ecosystems. Coingecko and CoinMarketCap are tracking ADOGE. There has been euphoria, there has been FUD. So, the question begs; how does ADOGE ascend to a point where it can be an autonomous staple of the Arbitrum network, and play the role of Dogecoin on Ethereum?
The Next Step…
For any low cap token, is bolstering the liquidity pool. Deep liquidity is imperative to increasing the value of any token or protocol. The tried-and-true method of tackling the liquidity question has always been to incentivize, and what better way than a good old yield farm? In the coming weeks, ADOGE liquidity provision will be incentivized through a farming protocol. Since the entire supply of ADOGE was added to Sushiswap and none can be accessed for yield farming, ADOGE liquidity providers and investors will be able to earn yield in the form of a sister token (we don’t know what we’re calling it yet). LP deposits and staking ADOGE will be fashioned in the way of many successful yield farming ecosystems of the past with multiple avenues of participation. This will include secondary pools for other pioneering projects in an effort to siphon some of the mindshare and traffic that larger cap protocols have amassed.
So…
The establishment of a liquid market is imperative for long-term growth, and a farm will help. As long as the Arbitrum network grows, and Dogecoin remains real, Arbidoge will remain real. Prepare yourself…
