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TeleSwap enables DOG wrapping to EVM blockchains

You can now bring your DOG to Polygon and add liquidity to the DOG-TELEBTC pool, unlocking the opportunity to earn passive income on your DOG and Bitcoin.

The DOG of Bitcoin

DOG, the first and biggest memecoin on Bitcoin, has rapidly captivated the crypto community since its launch on April 24, 2024, via the Runes protocol. Unlike traditional memecoins, DOG is deeply rooted in community-driven ideals and a fair distribution model. Its journey began with a monumental airdrop of 100 billion DOG tokens to over 75,000 holders of Runestone Inscriptions. These inscriptions were distributed under the Free and Fair Movement, ensuring inclusivity and fairness within the Bitcoin ecosystem. DOG’s rise to prominence was solidified with listings on top exchanges and a historic fee event, where DOG was etched with a $200,000 fee on the halving Block, marking a symbolic milestone.

Buying DOG with Stablecoins

Despite its success, DOG faces liquidity challenges due to Bitcoin’s Layer 1 limitations, making it harder for users to trade DOG tokens effectively. That’s where TeleSwap comes in, a platform designed to bridge liquidity gaps and elevate DOG’s trading experience. TeleSwap connects Bitcoin and EVM ecosystems, allowing users to buy DOG tokens using stablecoins on EVM-compatible networks like Polygon. Just last week, users began using stablecoins on Polygon to purchase DOG through TeleSwap, and hundreds of successful transactions have already gone through without a hitch.

DOG Wrapping Feature Now Live!

Exciting news for DOG holders: the feature to wrap DOG tokens is now live on TeleSwap! Users can now bridge their DOG tokens from Bitcoin to Polygon, unlocking low-fee DeFi opportunities and opening the doors to new liquidity from EVM chains. This feature provides a seamless way for DOG holders to take advantage of decentralized finance, tapping into the broader DeFi ecosystem.

Provide Liquidity and Earn DOG & BITCOIN

But it doesn’t stop there, TeleSwap is not only supporting the wrapping of DOG tokens, it’s also creating new earning opportunities for DOG holders. Once users wrap their DOG to Polygon, they can add liquidity to the DOG-TeleBTC pool on Polygon through TeleSwap. By doing so, they can earn DOG and TeleBTC from transaction fees, making it a win-win scenario for liquidity providers. In other words, DOG holders can provide liquidity and earn liquidity pool rewards, opening a new era for Bitcoin assets and Bitcoin DeFi.

Bitcoin and Rune token holders now have the opportunity to participate in TeleSwap’s liquidity pool, earning rewards from each swap, and contributing to the liquidity of the expanding DeFi landscape. With these new features, TeleSwap is at the forefront of bridging Bitcoin assets into the world of DeFi, providing users with exciting opportunities for both trading and earning.