DogeCola (CRYPTO: DOGECOLA) is about to ship its memecoin-inspired non-alcoholic beverages this month.
What Happened: According to a Friday DogeCola announcement, the Dogecoin-inspired (CRYPTO: DOGE) cryptocurrency project is about to ship its product.
While this coin surely looks like lots of fun, its policies are no joke. DogeCola purportedly provides its buyers a know-your-customer compliance certificate and passed a cybersecurity audit in mid-July. The coin behind the beverage has tokenomics set up in a way that makes it very clear that it was meant to spur speculation akin to that seen with Dogecoin and meme stocks.
Every time DogeCola is sold, a feature dubbed “AutoBoost” will buy back a variable amount of tokens and burn them — decreasing its supply forever.
Furthermore, the coin’s initial liquidity will be locked for more than one year, and 5% of the total supply was already burned.
In order to discourage price manipulation by big holders and trading bots, the fee on sales is higher than on buys.
DogeCola’s buyer fee system results in 2% of the proceeds being redistributed to the holders, 6% going to AutoBoost, and 4% to marketing and development.
Of sales fees, 7% is redistributed to holders, another 7% to AutoBoost, and 4% to marketing and development.
The project will also make regular donations to charities against plastic pollution.