Moving forward, we’ll first explain what Dust Protocol is all about. This is where you’ll get to tie it all together. Then finally, you get to understand how Dust Labs, DeLabs, DeDAO, DeGods, y00ts, and the DUST token all fit together.
Then, we will look more closely at the $DUST cryptocurrency. We’ll explain what it is, look at its utility, and explore its tokenomics. And, since most of you are interested in making money with altcoins, we’ll also dive into the Dust Protocol price. So, we’ll analyze the DUST token’s price chart and even speculate on where the asset’s price could go next.
Using the information obtained in this article, you can decide whether or not the project deserves your attention further and potentially be invested in. If so, you’ll learn how to use Moralis Money to research the Dust crypto further. Essentially, this ultimate on-chain analysis tool will help you decide whether you should buy $DUST and when.
Nonetheless, we’ll also ensure you know where you can buy DUST.
Exploring Dust Protocol – What is the Dust Crypto Project?
Dust Protocol is a decentralized multi-chain protocol. This short, simple, and quite vague definition is all one can find after visiting the Dust crypto project’s website outlined in the above image.
Typically, official projects’ websites contain a lot of details about the project they cater to. However, in this case, one needs to dig deeper to obtain a clearer picture. Fortunately, we did the digging, so you can simply sit back, relax and dive into the following sections.
What is DeDAO Foundation?
Since “DeDAO Foundation” is one of the clues on the project’s homepage, let’s start there. So, what is DeDAO?
As you may know, DAOs are decentralized autonomous organizations. DeDAO is a specific instance of that type of organization established by Dust Labs to serve the DeGods ecosystem. So, the project’s decision-making processes fall into the hands of this DAO. The latter also directs the funds through its treasury.
It’s also worth mentioning that DeDAO consists of three different groups:
- The project founders form DAO Leads
- Market experts form the Alpha Team
- Other contributing members voted in by DeDAO form the Divine Council.
To gain access to DeDAO, one needs to hold a DeadGod NFT.
What is DeGods?
We can’t talk about Dust Protocol or the DUST token without explaining what DeGods is. After all, this is the project that put Dust Labs on the map.
So, DeGods is an NFT collection that was created by Dust Labs back in October 2021 on the Solana blockchain. As you can see in the screenshot above, these are PFP NFTs – a total of 10,000 non-fungible tokens.
This NFT project went through quite a journey in the past bull market. Once the bear market started, the NFTs on Solana dropped in value hard, and that led to many traders accusing the project of a rug pull. However, the community managed to persevere through tough times. In fact, the DeGods NFTs became a synonym for exclusivity and are now considered one of the top NFT projects.
Note: There’s also the DeadGods NFT collection. You can consider that one as a more rare and, in turn, more valuable DeGods collection. But the latter is kind of important for the DUSK token as it gave $DUSK additional utility back in March 2022:
In the spring of 2023, the NFT collection and the entire DeGods ecosystem transitioned to the Ethereum chain.
Meet Dust Labs and DeLabs
Dust Labs, Inc. is the company behind the DeGods NFT collection, the Dust crypto protocol, DeLabs, and the y00ts NFT collection. The company is also referred to as a Web3 creative studio, and it is marketing itself by “building tools and communities for collections, brands, and partners.”
When visiting the company’s website, the team offers products used with their projects (DeGods and y00ts) and invites projects and other companies to partner with them.
Moreover, according to Frank’s (@FrankDeGods) Twitter activity back in 2022, it seemed like he was leading the team. However, since that account hasn’t posted a single tweet in almost a year, it’s hard to say how that person currently associates with Dust Labs.
However, by looking at Dust Labs’ LinkedIn profile, it seems that the company’s founder and CEO is Kevin Henrikson:
While Dust Labs is a company, DeLabs acts more as a community-based extension. The latter also serves as a sort of portal where users can share their thoughts.
What is y00ts?
The y00ts NFT collection is another successful project by Dust Labs. It consists of 15,000 unique PFP NFTs. However, this project is not completely separate from DeGods. After all, those who converted DeGods into DeadGods gained access to y00ts.
Just like DeGods, this NFT project was also brought to life on Solana. However, in the 2023 transition, y00ts migrated to Polygon.
The above info is more than enough for us to dive deeper into Dust Protocol and its DUST token; however, feel free to explore the “DeGods” community further using the above-outlined websites. And, if you’d like to guess what’s next for this crypto project, you can use its unique “roadmap.” The latter comes in the form of an image and allegedly offers hidden clues:
What is the DUST ($DUST) Token?
It’s not wrong to think of the DUST token as Dust Labs’ native currency. Furthermore, it is a fungible cryptocurrency that links the entire DeGods ecosystem together. For more on this, see the token’s use cases below.
$DUST was initially born on the Solana blockchain as an SPL token. However, as the DeGods and y00ts NFTs transitioned to Ethereum and Polygon, so did DUST.
DUST Coin Tokenomics
There was no pre-mine event for DUST. Instead, the token followed a fair launch. So, when the token went live on the Solana network in 2022, it had an initial/starting supply of 0 $DUST. However, the Dust crypto token’s maximum supply was programmatically set at 33,300,000 DUST.
So, the way to get DUST was by staking DeGods NFTs. And the tokens were fully distributed on February 22, 2023, via staking rewards. Along the way, the DUST token experienced three halving events (events where staking rewards were cut in half). So, the maximum supply was reached before the migration to Ethereum and Polygon took place.
Since the transition to these two chains, the tokenomics of DUST are not completely clear. After all, we can see that the token continues to trade hands on the Solana network. That said, the volume for the DUST/WETH trading pair on Uniswap is in the lead.
Moreover, by looking at Etherscan and PolygonScan, we can see the current total supply of DUST on Ethereum and Polygon:
The way to transfer DUST tokens from Solana to Ethereum or Polygon is by using the Portal token bridge (formerly known as “Wormhole”). Or, simply visit “degods.com” and hit the “Migration” option.
These are the important contract addresses for Dust Protocol and its token:
- Ethereum $DUST contract: 0xB5b1b659dA79A2507C27AaD509f15B4874EDc0Cc
- Polygon $DUST contract: 0x4987A49C253c38B3259092E9AAC10ec0C7EF7542
- Solana $DUST contract: DUSTawucrTsGU8hcqRdHDCbuYhCPADMLM2VcCb8VnFnQ
- Wormhole bridge address: GugU1tP7doLeTw9hQP51xRJyS8Da1fWxuiy2rVrnMD2m
DUST Token Use Cases
As mentioned previously, DUST is a utility token for Dust Protocol. So, its purpose is to facilitate community-led governance. It aims to achieve that by allowing $DUST holders to submit proposals and votes regarding the Dust DAO and its treasury.
Users can also use $DUST to buy merchandise and to covert a DeGod NFT into a DeadGod NFT:
Since the entire DUST supply was already distributed in 2022, it is not clear whether or not one can still stake DeGods or DeadGods to earn rewards is $DUST.
DUST Token Price Analysis and Prediction
When it comes to analyzing the Dust Protocol price, it’s important to consider the asset’s price data before and after the migration. Great places where we can access such price charts are CoinMarketCap and CoinGecko:
While there are slight deviations between the data from these two sources, the two charts paint, more-or-less, the same picture. As such, we can see that the Dust Protocol price reached its peak back in April 2022. At that point, the token reached nearly $6, which was more than five times higher than the prices at which $DUST traded initially.
However, given the bearish market conditions, the Dust Protocol price pulled back following the aforementioned peak. In May 2022, the price found local support at about $1, from where it managed to spike up into the $3.5-ish region twice. However, as Bitcoin and the entire market were hitting the cycle’s lowest points, DUST price also dipped way below the $1 level. In November 2022, the Dust Protocol price reached as low as $0.20-ish.
The DUST token didn’t stay that low for long but was unable to cross the $0.5 barrier until January 2023. That is when the entire crypto market again showed some signs of strength that pushed the Dust Protocol price above $1 and then over $2. On its path, the token formed clear support at the $1.4-ish level and a noticeable resistance around $2.5-ish-$2.6-ish.
At the time of writing, the price of the Dust crypto asset sits at $2.25.
Other mention-worthy levels are $2.8-ish, $3.3-ish, $3.7-ish, $4.0-ish, $5.0-ish, and the coin’s ATH level. And, if the market continues to show strength, these are the most likely predictions for the Dust Protocol price.
Should You Buy $DUST?
Using the above-obtained information, you should already be able to determine whether or not the Dust crypto protocol deserves your further attention. And, since we are not financial advisors, we leave it up to you to answer the above question. However, we are providing you with a powerful tool that will help you determine if you should buy $DUST.
To that end, make sure to research this NFT-focused project further with Moralis Money’s Dust Protocol ($DUST) token page. On this page, you will find various links as well as powerful tools that will help you come up with a confident answer to the above question.
Additionally, Moralis Money’s page dedicated to DUST also offers so-called alpha metrics. These are real-time, on-chain parameters related to the token’s on-chain activity. And since on-chain activity precedes price action, you can use those insights to determine if now’s the right time to buy the asset. Essentially, these on-chain insights allow you to get your timing right!
So, use the above link or the interactive widget below and get to the bottom of this dilemma.
Where to Buy the DUST Token?
There are several places where you can buy $DUST. However, at the moment, Uniswap offers the largest liquidity.
However, if you decide you wish to get a bag of $DUST, you may have other options. So, just use the “Market” section on CoinGecko or CoinMarketCap page for that token. There, you’ll find a list of all CEXs and DEXs that offer the relevant training pair, including the trading volume. As such, you can easily pick a market that best suits your goals.
Altcoin Opportunities Beyond the DUST Token
Whether you end up buying $DUST or not, you need to know that there are countless other altcoin opportunities. Ggiven the entire Dust Protocol price action, many alts offer a lot higher potential. After all, the average altcoin tends to increase in value by 50-70x during the bull market. Plus, there are many alts that pump hard even outside the bull run.
For instance, just look at the MTE coin, $BITROCK, Proof of Pepe, MOG, and HAMS. These are just some of the latest EVM-compatible tokens that Moralis Money users (especially those on the Starter and Pro plans) have profited from.
If you wish to join these traders in the know, make sure to learn how to use Moralis Money’s core feature – Token Explorer – to find tokens before they pump. Use our ultimate guide on how to find up-and-coming crypto and take your trading game to the next level today!
In fact, why don’t you use the interactive widget below and run your first strategy right now?
What is Dust Protocol? Full DUST Token Price Analysis – Summary
We covered quite a distance in today’s article; however, the following points cover the gist of it:
- Dust Protocol is a crypto project created by Dust Labs that powers the DUST token.
- $DUST is an important part of the DeGods NFT ecosystem.
- The entire ecosystem transitioned from Solana to Ethereum and Polygon earlier in 2023.
- The Dust Protocol price has seen its ATH in April 2022 near $6 but is currently sitting around $2.25.
- You should use Moralis Money’s token page for the DUST token to research this crypto further and decide if and when to buy it.
- Moralis Money’s main superpower lies in Token Explorer – the ultimate tool for finding the best altcoin opportunities at any given time.
