What is TeddyDoge (TEDDY) crypto and why is it drawing attention?

TeddyDoge (TEDDY) is a popular multifunctional platform for swap integrating transactions, exchange tasks, farming, wallet, and chart services.  

The TEDDY token rose 12.62% to US$0.001408 at 12:51 pm ET on Tuesday. But the trading volume was up marginally by 1.33% to US$12.37 million in the last 24 hours.

Most meme coins are inspired by internet jokes and memes. For instance, the BNB Smart Chain, formerly BSC, is a favorite platform for meme coins such as Dogecoin, BabyDoge, Shib, KIBA Inu, Marvin Inu, Pitbull, and CatCoin. 

On April 2, TeddyDoge said it completed the deployment of TeddySwap and TeddyDoge ChainBridge on the KCC chain. TeddyDoge is looking to deploy them on Avalanche. Though the token was up on Tuesday, there was no apparent reason for its price rally.

What is TeddyDoge? 

TeddyDoge (TEDDY) is a multifunctional platform for swap integrating transactions, exchange tasks, farming, wallet, and chart services. Its swap integrating transaction is called TeddySwap, an automated market-making, decentralized exchange (DEX).

Besides offering DEX services, TeddySwap is involved in governance, operation, and reward contracts to grow the TeddySwap ecosystem, says its whitepaper.

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This community-driven organization is built to offer a ‘one-stop full-featured decentralized exchange’ for users. Keeping this in mind, TeddySwap intertwines many decentralized markets and instruments, including swapping, farming, liquidity, 15 mainstream chain transactions, aggregate transactions, liquidity multi-scheme locking, derivatives and TeddyWallet.

The TeddySwap products are configured for ease of TEDDY token holders to conduct decentralized governance and collectively improve the ecosystem. 

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It allows the community members to vote for major structural changes in the ecosystem. However, the daily operations, business strategy, pool, ratio rebalancing, etc., are determined by the TeddySwap team.

According to Its website, the Soken Security team conducts its smart contract security audit. Soken’s analysts and engineers have a long experience in the crypto market. Soken identifies the risks and offers comprehensive solutions through smart contract audit services.

Soken’s audit report of TeddySwap shows low-severity issues within the smart contracts. But the contracts are free from any critical or high-severity issues.

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Data Source: coinmarketcap.com

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TEDDY token details:

The TeddyDoge token has a market capitalization of US$2.57 million, with only 26 holders. Of the total supply of 14.97 billion tokens, the self-reported circulating supply is 1.80 billion.

The token is available for purchase on BitMart, DigiFinex, Bitrue, XT.COM, and BKEX decentralized crypto exchanges.

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Bottom line:

The global crypto market rose by 1.79% to US$2.14 trillion in the last 24 hours to Tuesday afternoon. The meme tokens were among the top gainers. However, investors must carefully analyze the digital assets and exercise due diligence before investing in the crypto market, which is highly volatile and prone to scams and hacking.

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