DogeLabs to Explore DOGE-ETH Bridge for Defi Staking, and DOGE Burn Wallet

Jun 18, 2021 Uncategorized

(NEW YORK)–DogeLabs to explore bridging Dogecoin with Ethereum for host of new Defi and staking products utilizing the Doge protocol.

DogeLabs is exploring, with its growing team of developers at Data Syndicate, the idea of building a sort of Doge-to-Ethereum bridge to allow DOGE holders the ability to partake in ETH based DeFi and staking programs.

Recently, Ethereum co-founder Vitalik Buterin talked about a potential collaboration between Ethereum and Dogecoin in an interview in which he stated, “I think if we can have a secure Doge-to-Ethereum bridge. That would be amazing, and then when Ethereum gets any scalability that works for Ethereum assets, you would be able to trade wrapped DOGE with very low transaction fees and very high speed as well.”

DOGE BURN WALLET

DogeLabs will also explore development of a Doge burn wallet where developers can build applications that send a small portion of Doge to a public burn wallet to assist in building a deflationary mode around DOGE inflationary growth.

Tom Bustamante, the Founder and CEO of AI Venturetech and DogeLabs commented, “We are exploring idea of wrapping Doge tokens in specialize erc20 smart contracts to allow Doge to be transfered and utilized on Ethereum based Defi and staking platforms.”

“In addition, we plan to work with other partners on developing a Doge burn wallet where developers can build applications that send small amounts of Doge to public burn wallet on each execution, thus offsetting Doge inflationary growth. This could be one step in providing a deflationary model to Doge inflationary growth, and thus increase value for the asset.”

About DogeLabs

DogeLabs is a blockchain research lab located in New York City and Tulsa, OK focused on developing commercial applications around the Doge protocol. The goal of the lab is to bring together developers and enthusiasts who have interest in the Doge blockchain. https://dogelabs.io/

Forward-Looking Statements:

“Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking statements that are subject to risk and uncertainties including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from time to time in the Company’s filings with OTCMarkets.com and as required to the Securities and Exchange Commission. These risks could cause SWRM’s actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, the Company.

“LEGAL DISCLAIMER”

DogeLabs is strictly research firms focused on the development of blockchain applications, and in no way is involved with the buying, selling, issuance of any cryptocurrencies, or investment advice.

DogeLabs
Tom Bustamante
Email: info@aiventuretech.com