Meme-based coin, Dogecoin, has caught the attention of the world. The Doge surged more than 25,000% in the past six months.
Twin brothers Tyler and Cameron Winklevosses, the founders of a cryptocurrency exchange Gemini are working on the development of Dogecoin.
Starting Sunday, the Gemini app clients can allocate their Dogecoin assets to interest-bearing accounts through the Gemini Earn service.
The company said it would provide an APY (annual percentage yield) of 2.25% based on the idle Dogecoin balance.
Interest is earned and compounded every day, and customers can redeem their cryptocurrency at any time. There is also no minimum balance requirement and no fees to earn or exchange with Gemini.
Less than a week after the exchange first listed the eight-year-old cryptocurrency, Gemini added Dogecoin to its savings plan.
Since its launch, Gemini Earn customers with about $2 billion in loans provided through the service have now accumulated interest.
Customers in the U.S. and Singapore can earn up to 7.4% of APY revenue on 32 cryptocurrencies. It includes Bitcoin, Ether, and the newly added injection, polygon, and SushiSwap.
The company soon plans to provide interest on the U.S. dollar-pegged stablecoin Gemini USD.
In the U.S., Gemini remains the only regulated exchange. You can trade in all 50 states in the U.S. and earn interest in Dogecoin.
DOGE-1 moon mission: Actual DogeCoin will fly to the moon
Dogecoin has gained popularity, especially after Elon Musk’s announcements. Musk, calling himself “Dogefather,” has been promoting Dogecoin for a while now. He even plans to put an actual dogecoin on the moon.
Elon Musk’s SpaceX will launch the “DOGE-1 moon mission” in the first quarter of 2022. The company accepts full payment for the lunar payload using cryptocurrency inspired by the simulation.
Geometric Energy Corporation announced a mission funded by Dogecoin on Sunday. SpaceX’s communications team confirmed the mission in an email to reporters. The financial value of the mission has not been disclosed.
DOGE-1 will carry a 40kg CubeSat as a payload on the Falcon 9 rocket.
SpaceX expects that DOGE-1 “will prove the use of cryptocurrencies beyond Earth’s orbit.”
The DOGE-1 mission comes after Musk’s visit in “Saturday Night Live.” Although he mentioned the cryptocurrency, the price of Dogecoin plummeted during its appearance, falling below 50 cents.