Akita Inu ($AKITA) Explained: What is Akita Inu and how to buy AKITA coin (2023/2024 Edition)
BitKan explores a new coin that has a 100x potential: Introducing Akita Inu ($AKITA)! What is AKITA and How to buy AKITA?
You may have heard of Dogecoin, Shiba Inu…and all other coins that have a 100x potential, but what about Akita Inu Token ($AKITA)? In the crypto subspace of ecosystem coins, Akita Inu sits at a lovely spot.
Ever pulled up “Akita Inu coinmarketcap” or “Akita Inu coingecko”? In this series of BitKan Explore, we will explore Akita Inu Token ($AKITA) and whether or not this can potentially fit into your cryptocurrency investment.
What Does Akita Inu ($AKITA) do and offer?
According to the official website, Akita Inu Token is a cryptocurrency that started as a meme. Through the support of the community, Akita Inu has bridged to Avalanche for project governance — meaning that they are currently launched under Avalanche blockchain.
For comparison, this is how Akita Inu used to look like:
How to bridge AKITA ERC-20 (eth akita) tokens to avax avalanche: To bridge your AKITA tokens to Avalanche, they are verified on the Anyswap Bridge. You can refer to their Youtube channel for video tutorials.
AKITA works with $AKITA, which is the coin to tokenize the Akita Inu Token community, with many of the following utility features:
AKITA Network DAO: AKITA and gAKITA
AKITA Network DAO is a decentralized autonomous organization for the AKITA community which will establish a community treasury governed by the DAO. The community members who hold the governance token gAKITA will be able to participate and have a say in all of the decisions for the AKITA community. The community will be able to guide the future for AKITA.
- gAKITA will be the governance token of the AKITA Network DAO.
- g AKITA will incentivize leadership from within the community, which will leverage the power of the network in all fundraising, development, and trajectory.
- Since AKITA is needed for g AKITA, this creates demand for the AKITA tokens.
The AKITA and gAKITA contracts have several core functions outlined in detail in the following sections. Some of the important mathematical calculations and data structures are also presented here. Various example scenarios of user and multi-user activity and contract state evolution are illustrated where appropriate.
Akita Dreamswap
As of 19 January 2013, this was stated in the official Akita Inu Medium Blog here. The network used for Dreamswap is stated to be in Ethereum.
Mentioned by the Akita Inu team, DreamSwap is “something fun for the community, come provide liquidity with other memecoins you might already own”. Using the dreamswap will earn you $DREAM.
($DREAM) deployed on Ethereum Network, and it has the following properties:
- Akita Inu $DREAM token allocation is 33,600,000.
- Genesis distribution pf $DREAM is 1.5M (500k to team*locked/vesting upon release*, 1M to community and ecosystem/airdrops)
- Block Rewards is 62,000
- 10,000 Per week goes automatically to treasury wallet where it will stay locked until the community decides what to do with the funds.
- Distribution per week : 52,000 $DREAM
- Liquidity Pool- Rewards 20,000 $DREAM
- Staking- LP Rewards 20,000 $DREAM
- Swap- Traders Rewards 10,000 $DREAM
- Team- 2,000 $DREAM
- Block Rewards Details: 52,000 DREAM tokens reward distribution per week Liquidity Pool (Split evenly between pools)
- Providers Staking LP Rewards (Split evenly between pools)
- Swap Traders Rewards (based on volume activity)
Liquidity Pools available for you to earn $DREAM:
- AKITA-SHIB
- AKITA-FEG
- AKITA-HAKK
- AKITA-HUSKY
- AKITA-PEPE
- AKITA-DREAM
- DREAM-WETH
- AKITA-WETH
Not only that, DreamSwap also features Akita Savings. Basically, this is the single side AKITA staking (meaning instead of LP or two tokens, you just need to stake AKITA to get more value!) Its value is extracted from 0.25% deposits on the LPs above.
As you can see, the above features are just some of the many features the Akita Inu Community has graciously extended their expertise to grow the ecosystem. Assuming these products come to fruition, it increases the utility for $AKITA token and it confirms that a vibrant community will push the Akita Inu Token to the next level.
But what about the tokenomics of the $AKITA token itself?
Akita Inu Coin ($AKITA) Tokenomics and $AKITA Burn Mechanism Explained
The Akita Inu Coin ($AKITA) has a maximum and total supply of 100 trillion (i.e. 100,000,000,000,000 or 12 zeroes after the numeral 100).
- 7.82% tokens burned
- Max Supply: 100,000,000,000,000
- Circulating Supply: 92,179,835,873,886
Whereas some crypto teams simply destroy coins to limit the number of coins in circulation, $AKITA is transparent in that on its website alone, it states that 7.82% of its coin supply is delegated to the developers. There are no known mechanics for reflections, no fee-sharing systems, and no redistribution mechanisms recorded.
Akita Inu Coin ($AKITA) Staking
There are no current official methods of staking Akita Inu Tokens until DreamSwap is released. You can however stake $AKITA using external farms or exchanges.
Is Akita Inu Token ($AKITA) safe? Who created Akita Inu Token ($AKITA)?
According to this interview done by Jason Malki, Ryan Roberts is the Founder & CEO of Akita Inu, but this version is the Algorand version — we are talking about the Avalanche and Ethereum version.
Unfortunately, as of 19 January 2023, because they do not have a live whitepaper out yet, it is difficult to pinpoint who exactly is the leading team for the project.
However, one thing to note is that AKITA INU’s influence on the market is considerably huge, as their growing community with at least 34,500 Twitter Followers and 14,000 Telegram Members shows that it will not be dying anytime soon.
Akita Inu Token ($AKITA) Price?
At the time of writing on 19 Jan 2023, the price of Akita Inu is set at US$$0.0000002137. That’s 6 zeros at the front and 10 digits after the decimal point.
Its volume for the last 24 hours hovers around US$3,000,000 according to CoinMarketCap. It has a market cap of ~US$19 million, and its fully-diluted market cap is about ~US$21 million.
Remember that this is during a bear market in January 2023: prices will change differently, especially when the market turns bull.
It is not unforeseeable that Akita Inu Token ($AKITA coin), with a current market cap of $21 million even when all the AKITA INU tokens are out (assuming all burnt AKITA INU coins are burnt forever), could eventually catch SHIB ($5 billion) and DOGE ($7.5 billion), given how quickly things can catch on in crypto.
Flipping SHIB would see 238x returns and DOGE a whooping ~357x.
Suppose you are planning on investing in Akita Inu Token ($AKITA). In that case, you will be betting that community sentiment would drive up high enough to ensure that an economy of Akita Inu enthusiasts can escalate the token into new highs.
How to buy Akita Inu Token ($AKITA)?
Akita Inu ($AKITA) Coin exists in the Ethereum Beacon Chain (ETH) network with the contract number 0x3301ee63fb29f863f2333bd4466acb46cd8323e6. It also exists in the Avalanche (AVAX) network with the contract number 0xcaf5191fc480f43e4df80106c7695eca56e48b18.
Traditionally, you have to buy some Ethereum (ETH) or Avalanche (AVAX) coin (or any other coins that support the withdrawal via ETH or AVAX!) on a centralised exchange and withdraw them to your cold wallet via their respective networks. Once it is in your cold wallet, you can swap for AKITA INU tokens on Uniswap or Trader Joe/any decentralised exchange.
But you can simply do everything with BitKan.
Akita Inu ($AKITA) token exists on BitKan!
You may also buy AKITA INU tokens directly on BitKan as well. Sign up for an account via BitKan: https://bitkan.com/account/signup and put in some USDT or fiat money to get started!
You can find our guide on how to charge some money into your wallet over here, using BTC as an example of a coin you can buy from us: https://medium.com/bitkan-blog/completing-kyc-and-buying-bitcoin-guide-by-bitkan-crypto-exchange-3a532cbe5420.
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References
Akita Inu Token Website: https://www.akita.network/
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