BabyDoge Gives Up Ownership of Contracts on Ethereum and BNB Chain

Bittime - Meme coin BabyDoge stated that it has relinquished ownership of BabyDoge token contracts on the Ethereum network and BNB Chain. Read this article to find out more!

BabyDoge Releases Contract Ownership

This decision to relinquish ownership of a token contract is not unusual in the crypto world. Typically, the developer or core project team will retain ownership of the contract to ensure they can make changes or updates if necessary. 

However, in the case of BabyDoge, the team chose to cede ownership as part of an effort to increase decentralization and community trust.

By relinquishing ownership of the contract, BabyDoge confirms that no single entity, including the development team itself, has absolute power over the token contract. This means that BabyDoge will be completely community-driven, and every important decision must be taken collectively by token holders.  

Read Also: BabyDoge Will Airdrop PAWS to BABYDOGE Token Holders

BabyDoge Contract Release Transaction Details

For users who want to see proof of this release of ownership, you can see it on the Etherscan website and BscScan.  

For the release of contract ownership on the Ethereum network, you can see the details at Etherscan. As for the BNB Chain network, transactions can be checked at BscScan.  

Both transactions are publicly available and can be accessed by anyone who wishes to verify the veracity of the claims.

Impact for the BabyDoge Community and Users

Releasing ownership of this token contract brings several impacts to the BabyDoge community and users. Firstly, it provides additional assurance that BabyDoge is truly a community-driven project. 

Without a single entity controlling the contract, important decisions must involve input from all token holders, ultimately reinforcing the principle of decentralization.

Additionally, for those users who may be concerned about the impact of this release of ownership, the BabyDoge team has assured that no migration is necessary. 

Users can continue to use BabyDoge tokens as usual, without needing to take any additional steps. Important features, such as token burn will remain active and can be used to continuously reduce the supply of BabyDoge tokens in the market.

Read Also: Dominate Meme Coin on the BNB Chain and Ethereum Blockchain

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