Ethereum-based meme coin project Dogelon Mars (ELON) has announced the name of its new project as xELON. The Dogelon Mars team states that work is underway to bring xELON to the ecosystem, and xELON has included Dogelon in the DeFi universe. The team shared the aforementioned project, which also excited ELON investors, in a tweet:
The Dogelon Mars community is working hard to teleport xELON to this dimension! xELON brings Dogelon to the DeFi universe as: Management token, DeFi earning protocol and ELON staking incentive.
Meme coin Dogelon Mars steps into the DeFi space
cryptocoin.com As we have reported, the Dogelon Mars team is stepping into the DeFi field with its new project xELON. The new project of the Dogelon team working to increase its popularity, xELON, is a management token. xELON will also have a protocol role for earnings and a staking incentive for ELON. xELON is expected to be an important step that will provide incentives for the Dogelon Mars DeFi ecosystem. The meme coin, which is 110th in the CoinMarketCap ranking in terms of market cap, was trading at $0.000001755 at the time of writing, gaining 61.49% in the last 24 hours.
Dogelon Mars and its success were similarly inspired by Dogecoin. Also, Dogelon Mars is following this trend with the first word in its name being a resemblance to Elon Musk’s first name ‘doge’, and the second word ‘Mars’ is a clear reference to the unnamed billionaire’s interstellar job pursuits. (SpaceX) and space enthusiast and exploration advocate status. On the other hand, Elon Musk is in no way officially associated with this project. With a quick glance at the Dogelon website, it seems that the project marketing fits strongly with the classic expectations of a “meme coin”.
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