Dogecoin 2.0 is a new project that has recently entered the meme coin community. The coin promotes itself as the upgraded Doge. A DeFi token on the BSC chain, it is not hard for investors to mistake the token for the original Doge. This has promoted the Dogecoin Foundation to put out a statement to clarify its relationship to the new Dogecoin 2.0 project.
Dogecoin And Dogecoin 2.0 Are Two Separate Tokens
The Dogecoin Foundation posted on its website clarifying that Doge 2.0 had no affiliation whatsoever with the original Doge. It outlined that concerned community members had brought the existence of the former to its notice. Seemingly wanting to know if they were a part of the original Doge project. Even though the Doge 2.0 calls itself the Doge upgrade, it is in no way built off of or has ties to the original Doge.
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The foundation expressed support for new projects in the community. But needed to protect its community from projects that could mislead them to think they were investing in the original project. To this end, the foundation has asked is brand protection lawyers to contact the developers of the Dogecoin 2.0 project.
The reason for this is to ask the team behind the project to choose another name for its project. As the current one seems to carry the connotation that is it directly affiliated with the original Dogecoin project. The chosen name for their token infringes on the rights and reputation of the Doge brand. And thus, could lead to damaging consequences for the project if things were to go awry with the new token.
Earlier Project Denunciations
The fast rise in popularity of Doge has not come without its demerits. Various projects have come out to claim that they have ties to the original project. Hoping to profit off of its vast popularity. This has created a need for the Dogecoin Foundation to put out public statements clarifying that they are in no way associated with these projects.
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Some of these projects have include MoonRabbit AngoZaibatsu and the Dogecoin Foundation using the doge.org domain. The foundation denied any claims of partnering up with either of these entities. Explaining that this was falsely stated by the entities.
The foundation also revealed that they were in opposition to actors who were trying to register trademarks for Dogecoin. As they have no connection to the project from which they were trying to profit. The project has always been committed to remaining freely available for its community. And as such, will continue to make sure that the brand is community-owned.
Doge token trading at $0.28 | Source: DOGEUSD on TradingView.com
Featured image from Bankrate.com, chart from TradingView.com