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Dogecoin Labs launches, putting the MyDoge wallet, DogeOS and Such App payments under one company
Summary
Dogecoin Labs has launched in partnership with the Dogecoin Foundation, bringing the MyDoge wallet, the DogeOS application platform and the Such App merchant-payments product under one organization led by CEO Jordan Jefferson, founder of MyDoge and DogeOS, according to CoinDesk and The Block.
The company will focus on products and commercial uses for DOGE such as payments, commerce, DeFi and gaming, while the foundation continues open-source development and ecosystem stewardship, both outlets reported.
MyDoge says it has more than 500,000 users, and Such App already supports invoices and in-person QR payments, but CoinDesk notes the announcement does not say how many wallet users are active, DogeOS's featured apps are still marked "coming soon" and Such App's connection to DogeOS is still in planning.
The Block said the launch comes as Dogecoin's push into traditional finance has struggled to attract sustained investor demand, noting Bitwise announced plans in September to close its Dogecoin ETF.
Updates
- Update, : Oct. 21: Decrypt also reported the launch, describing Dogecoin Labs as formed with the Dogecoin Foundation and led by MyDoge founder Jordan Jefferson.
Key facts
- Jefferson said "No other digital asset has Dogecoin's combination of liquidity, community and cultural reach, and its potential has barely been tapped," per The Block.
- DogeOS opened its EVM-compatible public test network on Sept. 30, letting developers build lending services, exchanges and games with test DOGE, CoinDesk and The Block reported.
- DogeOS's planned security link to the Dogecoin blockchain depends on a proposed rule change that is still a draft, so users must rely on DogeOS's selected operators until it is implemented, CoinDesk reported.
- Such App was developed by House of Doge, the foundation's commercial arm, and Brag House, according to The Block.