What's the hype about the Dogechain?

Over the past few days, I have been exploring more opportunities in defi space by venturing into other EVM chains outside the smartBCH community. One of the chains I got hooked up with is the currently hyped Dogechain with its several meme coins communities. I got to experience how things work in this chain and see what potential they have for investors and what's the hype about the chain that could make someone prefer it to the smartBCH chain.

The Dogechain network is a young chain with a decentralized bridge. It's an EVM chain that could have the potential for growth in terms of project creations and businesses on the chain. Though it has a decentralized bridge, there's nothing in it to be compared to the smartBCH chain in terms of efficiency and user friendly. The Dogechain chain network is all about the hype with no solid project or a sound community to be compared with what we have on the smartBCH chain.

From my experience on the Dogechain network and community in the past few days, I can tell the Dogechain community lacks a certain aspect that the smartBCH community has. Though they are doing something on the decentralized bridge, there's nothing in the Dogechain community to compare to what's on the smartBCH community.

The biggest difference that I noticed between the smartBCH and the Dogechain communities is the engagement level in the smartBCH community. On the smartBCH community, I see how active the community is. I see how much energy, time, resources, and passion are being poured into the community in the terms of bringing the users to a certain point with the help of its talented developers and the various projects in the smartBCH community.

The Dogechain projects communities are all about hype and so disjointed from the interests of the users. When an investor thinks about investing in the Dogechain, he just wants to make money quick and easy and not about making a long-term investment in the projects.

I was hooked up by the hype and invested in a new Dex token launching. I was expecting with the launch of the Dex and the juicy Aprs the hype effects would not affect the token, but my expectation was wrong. The token was hyped and pumped up to a 10x increase leading to the launch of the Dex. But as soon as the Dex goes live, a massive dump of the token by the users follows the hype rather than the users having a more rewarding experience with the project.

A project that reached nearly 120k market cap with over 200 wallet holders before the Dex launch could not give the Dex up to 10k total value locked across all pools. Almost all the holders dumped the tokens, only those who joined the project just before the Dex launched deposited their tokens on the Dex to create liquidity pairs to earn farming rewards.

Although I was able to take out my investment with a little profit, the worse experience was yet to happen to me. My investment that was worth over 1245 $WDOGE before the Dex launches started to dip below 1000 WDOGE after the Dex launch. But it didn't stop there, my $10 investment which was worth $120 fell to around $80 in the short while. And before I was able to swap the tokens it dumped more and I could only take out 525 $WDOGE worth $35 at the time of writing this article.

I know that such experience can happen on any chain, however, getting the $WDOGE out of the Dogechain is the worse nightmare I could ever imagine.

It didn't take up to 10 minutes to bridge Dogecoin to $WDOGE using the Dogechain decentralized bridge, but getting out from the chain through the bridge is one hell of an experience. I thought it would just be as easy as grabbing my $WDOGE and walking away. I was wrong. Before I decided to swap using the bridge, I asked the community how long it takes for the swap to be completed, and I was told about 2 to 7 days.

What sort of a bridge takes 2 to 7 days to complete a single swap of just 525 $WDOGE worth $35?

The Dogechain decentralized bridge failed miserably to create a smooth flow between the original chain and the Dex chain. I thought I could find a way around it by using a multi-chain bridge, but the fees charged by the two multi-chain bridges I checked out were up to 10 percent which was a whopping 78 Dogecoins about $8.

With this, I went back to using the Dogechain supposed decentralized bridge and see how I could monitor the confirmation of f the swap on the explorer, and to my horror, there is no working explorer and no sign that the swap was being processed on the bridge site. What a decentralized bridge on the Dogechain!

The hype about the Dogechain is nothing but a vapor, how can someone enter into a chain easily and not be able to get out the same way you enter? Even now that the smartBCH chain doesn't have a decentralized bridge, the Bolivar bridge provided by the blockng team and Mistswap does a better job than the Dogecoin bridge the community is hyping all about.

I don't know if my 525 DC will arrive or not, and the worse part of it all is that there is no way to track the transaction, as the Dogechain protocol doesn't provide the transaction hash, although it will when the transaction is completed. Something like going back to front. I might as well consider that money lost forever because there is no way I can track it and no one to report the issue to for possible assistance.

From my experience, I think the Dogechain is not ready yet for all the hype it is getting. It needs more time to be mature enough to gain traction with the public, especially people who are not already investing in Dogecoin.