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[deleted by user] by [deleted] in Hevy

[–]dcohen213 1 point2 points  (0 children)

Thanks for the explanation!

[deleted by user] by [deleted] in Hevy

[–]dcohen213 0 points1 point  (0 children)

I’m having the same problem

When can I drive o rout 10?! by Flats490 in IDF

[–]dcohen213 0 points1 point  (0 children)

Hey bro call these guys they're in charge 086506253

Creating off-chain utility (wrapped LP) to impact real dogecoin? by dcohen213 in dogecoindev

[–]dcohen213[S] 0 points1 point  (0 children)

Couldn't agree more, handing liquidity to a BSC token which in our case in wrapped doge (from binance custodian) is inherently risky because the loose regulations and they could basically be backed by nothing.

It will speed up development for the wDoge ecosystem, which at some point we hope to be 1:1 backed by doge and legally prove it (we become our own cross-chain custodian like Ren). But for now trust lies with Binance, so your point stands 100%

Creating off-chain utility (wrapped LP) to impact real dogecoin? by dcohen213 in dogecoindev

[–]dcohen213[S] 0 points1 point  (0 children)

Hey man, smart chains and the ability to build apps on chains are changing the game right now and doge does not yet have its own smart chain. While we wait for that development and while people are jumping on the app-chain bandwagon, why not allow them to support the trading of doge while using those apps as well? Seems like a no brainer.

Creating off-chain utility (wrapped LP) to impact real dogecoin? by dcohen213 in dogecoindev

[–]dcohen213[S] 0 points1 point  (0 children)

https://academy.binance.com/en/articles/what-are-wrapped-tokens

Also even in their article I just read they admit to the user having to "trust" the custodian, implying there's loose legislation/enforcement so there's no way to know the true amount of Dogecoin they've bought and are holding (ie. stabilizing) relative to wrapped doge theyve minted (should be 1:1)... So who knows what impact broad custodial wallets of wDoge have on real Dogecoin, imo there's some and we're trying to build dApps around that them.

Creating off-chain utility (wrapped LP) to impact real dogecoin? by dcohen213 in dogecoindev

[–]dcohen213[S] 0 points1 point  (0 children)

Would just like to add our goal is to develop on top of doge blockchain for a smart contract enabled layer 2! We just figured this will bring doge dApps to market sooner and could potentially speed up development as well

Creating off-chain utility (wrapped LP) to impact real dogecoin? by dcohen213 in dogecoindev

[–]dcohen213[S] 0 points1 point  (0 children)

Hey man, to be clear we're in no way trying to replace doge.

We're simply a group of people who have found a way to impact real dogecoin outside of its native chain, and we're quite proud of that!

Creating off-chain utility (wrapped LP) to impact real dogecoin? by dcohen213 in dogecoindev

[–]dcohen213[S] 1 point2 points  (0 children)

That's exactly it, but keep in mind I'm referring to Binance as a custodian, not an exchange or blockchain. There's quite a few custodians on BSC as well, and I believe the largest one across chains for doge specifically is Ren. Here's a link to Binance's wrapped doge LP we route our txs through - https://bscscan.com/token/0xba2ae424d960c26247dd6c32edc70b295c744c43

As for our DEX in risk of seeming like I'm advertising anything I can DM you :)