Bitgo Reveals Wrapped Dogecoin Token Built on Ethereum

November 2, 2022 Digital Asset Management Business and financial services provider Bitgo have introduced a wrapped version of their meme coin asset dogecoin built on the Ethereum blockchain. The company detailed his Wdoge DAO, a wrapped Dogecoin initiative through a partnership between the Dogecoin Foundation, Bluepepper, and the Mydoge wallet.

Bitgo Introduces Wrapped Dogecoin Initiative

Nearly four years ago in January 2019, Bitgo launched its popular ERC20 tokenwrapped Bitcoin (WBTC)started. WBTC is basically a wrapped version of Bitcoin built on top of Ethereum with ERC20 standards and all WBTC is backed by Bitcoin (BTC

today ,stats show that there are 245,379 WBTC in circulation, worth about $5.2 billion using today’s exchange rates.On Wednesday, Bitgo announced that the company is a popular meme coin asset

Wrapped Dogecoin ( WDOGE) token is also backed by Dogecoin (DOGE) in a 1:1 ratio.The WDOGE token has its own website explaining the benefits of the project, WDOGE using decentralized finance (defi).

Website states “Lend WDOGE on defi protocol with WDOGE as collateral” and “Get loan on defi protocol with WDOGE as collateral.” FAQ) section explains that the developer will “soon publish a dashboard similar to that of WBTC.ard” which will be used for proof of assets.

According to Bitgo’s blog post, the company will offer two types of custody services and will also provide a hot wallet for WDOGE, which was announced by Elon Musk on its social media platform. It follows dogecoin’s recent market rip-off after its formal acquisition of Twitter.

Dogecoin has taken the eighth-largest position by market capitalization.Bitgo is now at. I have a registration form to start a Wrapped Dogecoin (WDOGE) project

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