Web69 is an Ethereum compatible PoS blockchain that allows $DOGE holders to transfer their tokens for a PoS $wDOGE token.
Web69 uses its own bridge to help users transfer their $DOGE for $wDOGE. For every $DOGE token that is bridged, Web69 protocol mints an equivalent $wDOGE token. By a similar process, when $wDOGE token is converted back into $DOGE token, the $wDOGE token will be burned to release $DOGE token from the reserve.
The native token of the WEB69 blockchain is $WEB69. As the native token, $WEB69 serves as the gas fees for transactions on the WEB69 chain, issuance costs for new assets, minting and burning costs and more. $WEB69 is also used for delegated staking on the authority validator. $WEB69 can be staked to contribute to network security and vote on community governance protocols.