Leonidas, the Founder of Runestone, has written to Coinbase seeking clarification on ‘fair and transparent listing’ of Bitcoin-based memecoin, $DOG. Leonidas submitted an open letter to Armstrong and Coinbase via X, an action that essentially builds on their previous request wherein they sought the team to address their issues about fair listing and transparency for DOG tokens.
In the open letter, Leonidas noted, “Mr. Armstrong’s public call for applications and invitation to “drop us a note”, even after our initially fruitless earlier attempts, encourages the $DOG Army to reiterate our request for a $DOG listing”
OPEN LETTER TO COINBASE
Subject: Request for Transparency and Fair Listing Practices for $DOG on Coinbase
The $DOG Army is writing this open letter to respectfully request clarification regarding the status of $DOG‘s application for listing on the Coinbase platform. This letter…
— Leonidas (@LeonidasNFT) November 7, 2024
Leonidas’ first critical point urges Coinbase to articulate any specific concern that the platform might have which restricts it to list $DOG. Specific concerns have to be addressed to the $DOG Army, reads the open letter, Second critical point pinpoints that it is the responsibility of Coinbase to make sure that the listing of the token happens fairly and with full transparency.
These requests mentioned in the open letter to Coinbase have received positive responses from community members. Their strong support is based on the fact that the Bitcoin-based meme coin has carved a way for itself without engaging in inorganic activity. The entire growth that $DOG has experienced, or is experiencing, is on the grounds of organic attempts that have finally yielded fruitful results.
Leonidas mentioned in the open letter that Brian Armstrong, the Chief Executive Officer of Coinbase, had himself published a post on November 02, 2024, assuring that the platform encourages free listings, adding that there was a public call for applications and invitation to drop them a note.
While Leonidas has appreciated that post, they have sought Coinbase and Armstrong to actually take a strong stand on it by shedding light on what happens to $DOG in the times to come. The token awaits to be listed on the platform so that it can be traded among investors. Leonidas has suggested that Coinbase evolve its Asset Hub process so that it is inclusive of all decentralized and fairly distributed meme coin communities.
$DOG is backed by a strong community of members who believe in its future. The token is one of the few digital tokens to have made it to $980 million in terms of market cap without any tier-1 CEX listings. The team has not paid any token to an influencer or marketing firm that could pump their chances of success – this includes market makers. Leonidas highlighted the token’s popularity as he revealed that 100% of its supply was airdropped for no cost in an initiative that was organized by volunteers. Thereby, skipping the stage of presale and team allocation.
Suffice it to say, $DOG has made it to a higher value without engaging in any traditional form of marketing tactic. Its hype is evident from the mention of trending on X for more than 30 days in the last six months.
It now remains to be seen how Coinbase and Armstrong respond to the open letter that has been published by Leonidas on their official X profit. The $DOG Army has expressed its commitment to creating a meme coin that is healthy for the segment and advocates for decentralized meme coins.
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