Today we are proud to announce the rebooting of the Dogeparty platform! Dogeparty is a smart contract built on top of the Dogecoin (DOGE) network for minting tokens and NFTs. It was initially launched in August/September 2014.
What is Dogeparty?
In January 2014, the Counterparty smart contract (counterparty.io) was released which allowed anyone to mint tokens on Bitcoin (BTC). However, as the months went by, Counterparty users became increasingly concerned that the fees on Bitcoin (~ $1 to $2 at the time) would make token applications unworkable. As a result of this bitcoin fee crisis, the Counterparty smart contract was forked and deployed on the Dogecoin blockchain in August 2014 and renamed to Dogeparty. After almost 2 years, and with the crypto bear market in full swing, Dogeparty was slowly abandoned and nodes began shutting down, due to lack of funds to support and maintain the platform, until the last Dogeparty transaction was sent December 2016.
Now in 2021, the year of the NFT, several seasoned Counterparty developers have resurrected Dogeparty and upgraded the smart contract to use the latest version of Counterparty federated node software rewired for Doge compatibility. Dogeparty allows the Dogecoin community to tap into memetic potential of NFTs minted directly on Dogecoin.
This current version of Dogeparty will also implement a Proof of Bern (as opposed to a Proof of Burn) to create additional supply of XDP, the native token of Dogeparty. Unlike a proof of burn, berned funds are not destroyed but sent to a community fund to resurrect Dogeparty and help ensure its future survival.
The Dogeparty Bern Period will begin on October 1st, 2021 (block #3,919,346) and run for approximately 60 days, concluding on December 1st, 2021 (block #4,007,186). During the bern period, users will be able to bern DOGE at a ratio of 10:1, where berning 10 DOGE will get you at least 1 XDP token. There is also a 50% bern bonus which will be awarded to people who bern earlier. This bonus gets a little bit lower with each block that passes, by the end of the bern the bern ratio will be exactly 10:1 XDP.