DeFi Debate in the Dogecoin Community Intensifies

The discussion that started on the X platform around Dogecoin has brought different approaches regarding the network's development activities and its intended use to the forefront. DogeOS administrator BuidrJ argued that despite Dogecoin having over 10 million owners, the number of developers working on-chain is limited. This view was met with objections from some prominent figures in the community. BuidrJ pointed out that despite Dogecoin's market value of approximately $12.3 billion, its on-chain usage remains low. He emphasized that Ethereum has a DeFi size of $46.4 billion and Solana has $5.7 billion, while Dogecoin is stuck at just $11 million. BuidrJ expressed that Dogecoin is about 100 times behind other major crypto assets. Community member Mishaboar opposed measuring Dogecoin's success by the capital invested in DeFi protocols. Mishaboar stated that Dogecoin has grown as a fun, decentralized, and permissionless currency, and that TVL data alone does not reflect the nature of a currency.

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