Doodles are Creating $DOOD & the Community’s Trust is Key

Doodles, the NFT project that’s been making waves in the crypto world, is pivoting to a new move. They’ve launched $DOOD on Solana – previously a memecoin and now a utility token. This shift is not just about the token itself, but about rebuilding trust within the community while navigating the complexities of corporate partnerships.

$DOOD Tokenomics: Community-Centric Allocation

The $DOOD tokenomics are designed with the community in mind. Here’s how the 10 billion tokens break down:

• 30% to the Doodles community.
• 25% to an ecosystem fund.
• 17% to the team.
• 13% for attracting new blood.
• 10% to liquidity providers.
• 5% to Doodles Inc.

This whole allocation plan shows a clear intention to focus on the community rather than hoarding tokens within the company or a select few.

Doodles’ Evolution: Corporate Partnerships vs. Community Values

Doodles started as a 10,000-piece NFT collection, but it’s grown into an entity involved in entertainment and collaborations with big names like McDonald’s and Adidas. The issue? Crypto-native holders felt the brand was drifting, prioritizing corporate tie-ins over its original community essence.

Scott Martin, the newly appointed CEO, addressed this by calling it the “futon effect.” His goal? Refocus on the community, and the $DOOD launch is a big part of that.

Memecoin to Utility Token: Navigating Compliance

Initially labeled as a memecoin, the $DOOD token is aimed to transition into a true utility token. Martin’s choice of words is calculated for compliance with US securities laws, highlighting the need to ensure they adhere to regulations before rolling out all functionalities.

The Doodles team has plans to bridge the token to Base, Coinbase’s Layer 2 network, hinting at a multi-chain future for $DOOD.

Building Community Trust: A Must for $DOOD

For $DOOD to succeed, community trust is vital. Doodles must harness platforms like Twitter and Discord to connect with their followers. Transparency through updates and addressing concerns quickly will be key in fostering trust.

Empowering the community in governance decisions will also be crucial. Allowing holders a say in the brand’s trajectory can strengthen their bond with the project.

Regulatory Challenges: What’s Next for $DOOD’s Utility?

The regulatory landscape poses its own hurdles. Whether digital assets are classified as securities or commodities can drastically impact how $DOOD operates. Compliance is necessary to ward off risks.

The rules around custody and staking will also dictate how $DOOD is utilized within the ecosystem. Clear communication about the tokenomics and development plans is essential in building trust with the community.

Summary: The Future of Doodles and $DOOD

The long-term vision for $DOOD is still a bit hazy, but gamification and interactive experiences are on the horizon. Doodles has to balance corporate interests with community values to keep its unique identity intact.

By focusing on community engagement and transparency, Doodles can successfully transition $DOOD from a memecoin to a utility token. Overall, they’ve got a promising future ahead in the digital currency trading platform.