DogeOS Launches DeFi Testnet on Dogecoin

The Dogecoin ecosystem has gained momentum with the launch of DogeOS's DeFi testnet. The public testnet, dubbed Chikyū, went live on September 30th and introduces a smart contract and DeFi application layer to the DOGE blockchain.

DogeOS is an EVM-compatible Layer 2 network built as a rollup on zero-knowledge proofs (ZKP) over Dogecoin. It aims to offload smart contract and application execution from Dogecoin, while maintaining a connection to the base network. The testnet already features projects in several areas, including liquidity infrastructure, lending protocols, perpetual contracts exchanges, and options platforms.

The main goal of DogeOS is to make DOGE a foundation not only for payments but also for a full-fledged application ecosystem. Dogecoin's weak interest in existing investment products has led the creators of DogeOS to believe that applications could provide a more fundamental reason to hold DOGE than betting on its price increase.