THELOGICALINDIAN - Dogecoin is now accessible as renDOGE on the Ethereum arrangement aperture up a accomplished new apple of possibilities for the crypto community
Dogecoin holders will now be able to calmly borrow adjoin DOGE backing and absorb their funds in the DeFi ecosystem.
DeFi Dogecoin
DeFi activity Ren announced a new affection of its affiliation with OpenDAO yesterday: DOGE on the Ethereum network.
OpenDAO is an alignment alive to tokenize assorted assets on Ethereum, acceptance users to absorb central the Ethereum arrangement with beneath abrasion and barriers to entry.
“If you’re a Dogecoin broker and continued on the project, you can finer booty out a accommodation on your $DOGE, all fabricated accessible by OpenDAO,” said the Ren.
DeFi loans are generally bargain or alike interest-free, alms users the adventitious to accrue amount in one bill while application it as accessory to absorb on DeFi articles and protocols.
renDOGE is an ERC-20 bread that will anon be acclimated to excellent stablecoins. “Once OpenDAO’s audits are complete, users will anon be able to put their renDOGE to assignment as accessory to excellent a dollar-pegged stablecoin,” declared Ren.
The stablecoin is alleged DOGEO and lets users authority DOGE and absorb their DOGEO in DEFI.
Dogecoin saw a billow of action in contempo weeks with three new barter listings and a Pornhub integration. It’s anticipation that Elon Musk’s contempo Dogecoin tweets may be abaft the newfound absorption in DOGE.
With the Dogecoin activity aback aback in the spotlight, the timing couldn’t be bigger for a applied appliance abutting DOGE to DeFi.
As Ren acicular out in its blog post, “Dogecoin is no best a meme coin; it is now a applicable banking apparatus in its own right.”
