What Happened to Dogen Finance? A Cautionary Look for Investors

Dogen Finance was once among the many exciting projects riding the DeFi wave of 2021. With a quirky brand and a decentralised team, it promised a blend of yield farming, NFT integration, and gamified DeFi experiences. On paper, the roadmap was ambitious, offering everything from synthetic tokens and NFT farms to an augmented reality game called Dogémon.

But now, years later, the project has gone completely silent. With no meaningful updates since 2021, Dogen Finance seems to have quietly faded into inactivity, leaving users uncertain and the community all but disbanded. This article takes a closer look at what was promised, what happened, and why you should be cautious before getting involved with Dogen Finance today.

Dogen Finance’s Roadmap: Big Dreams in 2021

Back in May 2021, Dogen Finance published a public roadmap that reflected the DeFi zeitgeist of the time. 

It included bold ideas, many of them forked from successful experiments by other projects. Here’s a breakdown of some key items:

• Dogen Stable Swap: A 0% slippage stablecoin swap using dUSD and a fork of Yearn's Woofy contract, promising cheap and efficient trading.
• NFT Farms: An “art farmer’s market” built on BULLDOGE with support from existing NFT farming protocols like dontbuymeme, superfarm, and rope.lol.
• Dogémon: An AR-based mobile game for battling Dogen NFTs in real-world parks, inspired by Pokémon GO but for the DeFi crowd.
• DogenZoo: A yield farming system offering multi-token rewards using a MasterChef contract forked from Sushiswap.
• Dogedrop: A no-loss lottery for DOGE holders, based on the PoolTogether model, meant to reward staking participants.
• Playpen Sites: NFT landing pages and farms for spinoff tokens like Bulldoge, Aussie, and Zendoge.
• Compound Tokens: LP-backed basket tokens like DeFiGod and Dogpile, bundling various DeFi assets under themed names.
• The Dogenator: A swap function for DOGEN tokens across chains, namely Harmony and BSC.
• Synths: Synthetic assets like dDOGE and dBTC using dUSD and forks of Klondike Finance.

The roadmap also promised fair, open-source development opportunities, offering devs compensation of up to $500/hour in DOGEN, ETH, BNB, and LP tokens. A clear call to action was included: “If you want to work on any of these, reach out!”

No Progress, No Updates: Is Dogen Abandoned?

Despite the exciting roadmap and community engagement in early 2021, none of the promised features seem to have been completed or launched in full. There has been no verified progress on Stable Swap, Dogémon, or even the more achievable NFT farms.

The last update on their official blog and Medium account dates back to May 23, 2021. Their Telegram and Twitter channels have shown minimal to no activity since that time. 

There’s no live product, no development updates, and no visible support for users trying to interact with the platform.

For investors and crypto users, this long silence is a clear red flag. While some projects may take time to build in the background, the complete absence of transparency suggests that Dogen Finance has likely been abandoned or is no longer being actively developed.

It’s possible that some smart contracts may still be live on-chain, but without an active team or functioning front-end, using them is extremely risky. In DeFi, inactive contracts with no updates can be vulnerable to exploits, and any funds deposited may not be recoverable.

What Should You Do Instead?

If you’re holding DOGEN tokens or considering buying in, it’s important to approach with caution. The crypto space has seen many fun and promising meme-themed projects come and go, often fading as fast as they rose. Dogen Finance appears to be one of them.

Rather than betting on inactive or potentially dead projects, consider placing your focus on active ecosystems with verified development teams, open communication, and actual product usage. 

Platforms like Bitrue provide a safer way to trade and explore tokens, offering user-friendly tools and consistent support.

On Bitrue, you can access a wide range of tokens, including meme coins, DeFi protocols, and blue-chip cryptos, without needing to rely on unverified or ghosted projects. They offer standard KYC protection, fiat on-ramps, and clear updates from listed projects.

Until Dogen Finance shows signs of real progress, such as open-source commits, community engagement, or live features, it’s best to steer clear and trade assets that are well-maintained and transparent.

Conclusion

Dogen Finance once looked like a creative experiment in merging DeFi with gaming, NFTs, and meme culture. Its 2021 roadmap showed ambition and enthusiasm, backed by a decentralised dev community.

But with no updates since May 2021, zero follow-through on promised features, and a silent community, it’s fair to say the project is currently inactive.

As always, be cautious when interacting with legacy or abandoned contracts. And if you’re looking for a more secure, active environment to explore tokens, exchanges like Bitrue remain a trusted option for both beginners and experienced traders alike.

Frequently Asked Questions

Is Dogen Finance still active?
No. Dogen Finance hasn’t released any updates since 2021, and none of its roadmap items appear to have been completed. It should be treated as inactive.

Can I still buy DOGEN tokens?
You might find DOGEN on decentralised exchanges, but it’s highly risky. There’s no ongoing development or support.

What’s a safer way to explore memes or DeFi tokens?
Using a centralised exchange like Bitrue is a safer choice. They vet listed tokens, offer trading tools, and provide support for beginners.

Investor Caution 

While the crypto hype has been exciting, remember that the crypto space can be volatile. Always conduct your research, assess your risk tolerance, and consider the long-term potential of any investment.

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