In this article, we will discuss information about the Akita Inu – token (AKITA) project.
What is the Akita Inu (AKITA) cryptocurrency?
Akita is an ERC20 token built on the Ethereum network. The token has caught the attention of the crypto community since its launch, just three months ago, due to its rapid development in relation to the Polarfox community.
Built by the Akita Inu community, a 100% decentralized community experiment, Akita was inspired by the original meme currency, dogecoin. The coin has seen great success in recent weeks, being found on several major exchanges such as HotBot, MXC, BKEX, and Poloniex, among others.
The AKITA Network has a strong network that supports its exceptional growth rate and the people who buy and use Akita tokens. It should be noted that while it took almost 6 years for Dogecoin to rise to the top, Akita appears to be growing faster with many people eyeing its low price and the aggressive community mobilization that is supporting its growth.
Akita’s total market supply was set at 100,000,000,000,000. As a decentralized experiment, the developers claim that while half (50%) of the tokens were sent to VitalikButerin, the remaining half was locked in a pool. Uniswap and burned keys. Akita is similar to SHIBA INU in many ways, except for their different token metrics.
What is AKITA Network 秋田犬?
The AKITA network is a community and social experiment with tokenomics.
It brought together people with similar interests looking to invest in a common experience. Through interactions on a decentralized and anonymous social media platform, AKITA visionaries and holders will have access to vendors and organizations that have been chosen by their own members and benefactors.
Why Meme Token?
Memes are a product of the internet, just like crypto, and have grown by leaps and bounds over the years to join the mainstream space. Today, memes are used to drive cryptocurrency adoption, which has increased the values of those tokens. Akita adopted this format, as did its predecessor Dogecoin, and its effect is attributed to the fact that it is a ‘meme token’.
Dogecoin was originally founded in 2013 as a joke, but later found favor with the supportive community and turned it into a true cryptocurrency built entirely on the principle of decentralization. Dogecoin found support by being backed by Tesla and SpaceX’s Elon Musk, which saw it hit the bull market last year. However, it is the strength of the community behind it that has seen it grow beyond imaginable levels to become a top 5 cryptocurrency. The same principle is observed with Akita, whose market value has continued to rise since its launch three months ago.
The Akita token was created to facilitate interaction between members of the AKITA Network. That is, it must be used during interactions between users on a decentralized and anonymous social media platform. Akita keepers can vote for the direction of the community as a whole.
The rapid adoption, facilitated by the meme, saw it reach multiple days of trading volume of over $200,000,000, resulting in trending status.
Is Akita Inu the next Dogecoin?
In the early days of a new project, it’s always easy to say that something new will be comparable to something else, which is more proven. This press release will not make that kind of bold comparison here today. Instead, the core belief of the token is a much more intriguing comparison to be made as to why the Akita Inu could be the next Dogecoin. The community’s power.
First, let us explain why Dogecoin has become the 7th most traded coin in the crypto market. It was created in 7 as a peer-to-peer digital currency and, even at first, it was seen as a comic currency. After all, their logo is a drawing of a dog. But it was this humor that managed to penetrate deep into the Internet and immediately became a force and a real competitor, even compared to Bitcoin. The community grew around the idea that, despite its comic nature, what if our little furry friend could be the favorite cryptocurrency in the market, going after traditional financial institutions?
Over time, the power of Dogecoin’s ability to compete became more difficult under the scrutiny of cryptocurrencies that needed a purpose. Fear of fraudulent coins and of course a very unregulated market kept Dogecoin very low. That is, until the winter boom of 2017 and 2018. The price of the Doge broke a penny. Although later in 2018, the market fell back into what appeared to be a bear market for the entire industry, including Bitcoin.
But the power of the Doge community remained with Dogecoin. The interesting thing about the Reddits forums at the time is that the sentiment was not supportive of Doge. Not because people thought it would make a profit, but because of a desire to point the middle finger at the financial world. It was this common belief that kept people interested and willing to continue supporting something that had no practical purpose. It was the power of community that organically created its own purpose.
The importance of the Akita community
If we quickly look at the year 2020 and 2021. At this point, financial institutions have entered the cryptocurrency space and Bitcoin is at record highs. Participation of financial institutions and more people than ever looking to invest in cryptocurrencies, as projects like Akita Inu are ready to be chosen. Crypto investors, both old and new, see how far Dogecoin has come and many of the same sentiments playful, anti-state investors will haunt the next Dogecoin.
AKITA is a decentralized, community-driven experiment. No founders, no team tokens. The purpose of this group is to assign skills within the community to appropriate roles in the development of ATIKA and to collectively agree on decisions for the future of ATIKA.
Is Akita Inu ‘Shitcoin’?
First of all, it is important to explain that there are two types of people who want to know what shit is. The first is a person who hears “shitcoin” everywhere: “that’s shitcoin!” and stop says “stop using shitcoin”, but they don’t know exactly what it means to be a shitcoin. The other type of person has the idea of what a shitcoin is, but doesn’t know which cryptocurrencies are shitcoins and which are not. So for those who care, here are some definitions.
The Urban Dictionary defines a shitcoin as “a great way to lose money” and “a cryptocurrency with no use or exclusive features.” In other words, a shitcoin is a cryptocurrency that will one day be totally useless.
There are others who say that a shitcoin is “a pejorative term used to describe an altcoin that has become worthless. The value of shitcoin can disappear because the interest did not materialize, because the altcoin itself was not created in good faith, or because the price was based on speculation.
Finally, before investing in any cryptocurrency, it is important to study its basics!
For more information visit: Akita website
Frequently asked questions
What is AKITA?
AKITA will be the symbol of government of the AKITA Network.
AKITA will foster leadership within the community that will harness the power of the network in fundraising, development and journey.
AKITA will only be minted for a period of 60 days, in which AKITA holders will be able to stake their AKITA to win gAKITA, stake that gAKITA and win more AKITA.
It is not necessary for AKITA to interact with the network.
What is Polarfox Labs?
Polarfox Labs, first known as the Polarfox Project, was born out of a deep need: the AKITA token lacked a team and a project.
Several members of the community came together to build a project from scratch, which eventually formed the Polarfox Labs team. Integrating Akita into a decentralized social network was a community decision. As developers began to understand the intricacies of building a social network while working on Ethereum, a new idea was born: Polarfox.
Polarfox Labs will build a DEX-centric ecosystem to support the development of future projects in the ecosystem.
Polarfox will first create a DEX. This will solve the main problem for building DeFi products, which is sufficient liquidity. DEX will also act as the main source of resources for the development team to further develop the ecosystem.
What is PFX?
PFX is the Polarfox DEX token.
This token will be available on the Avalanche blockchain and will be a deflationary token, which we believe will increase in value over time.
In all transactions:
- 0.27% is burned (sent to 0x0);
- 0.03% is sent to a development portfolio to fund future development.
Polarfox builds on Avalanche because it uses a revolutionary consensus model that completes transactions with near-instantaneous purpose.
In a nutshell, Avalanche has:
- Ridiculously low gas rates;
- Extremely fast transactions;
- A responsive development team;
- A dedicated community.
We believe that the avalanche is underestimated and will show great growth in the coming years.
How does Polarfox work?
Although Polarfox has some differences from most other decentralized exchanges (having a bridge, a deflationary token, etc), its core functionality is the same as Uniswap.
What is Dream Swap?
The AKITA Network has identified a growing need to exchange “meme coins”.
DreamSwap is the perfect answer to that need.
You are leveraging social currencies with AKITA Network. Our community strongly believes that the social communities that are developing around cultural icons, memes, and heroes of crypto history are inherently valuable in both the community bonds and the goals they want to achieve.
DreamSwap is a fun destination for holders to provide liquidity with other “meme” coins, earning DREAM$.
What is DREAM?
When holders provide liquidity through DreamSwap, they earn DREAM tokens.
The DREAM token will be deployed on the Ethereum network with a total supply of 33,600,000 units.
At its genesis, the distribution will be 1.5M DREAM tokens, of which 1M will be deployed in the community through mechanisms such as drops.
The other 500K DREAM will be blocked specifically for team funding. Among them, a weekly allocation of 10,000 DREAM will be automatically sent to a treasury wallet, where it will remain locked until the AKITA Network community decides what to do with the funds.
Finally, an additional weekly distribution of 52,000 DREAM will be divided equally among the groups.
It is also possible to earn DREAM and additional rewards by staking AKITA tokens.
0.25% of AKITA deposits in the protocol are returned to the participant’s AKITA savings portfolio at a nominal annual percentage yield.
Liquidity pools for agricultural production in DreamSwap include:
- AKITA – SHIB
- AKITA – FEG
- AKITA – HUSKY
- AKITA – SLEEP
- AKITA – WETH
- DREAM – WETH
Samuel Edwards is the name you must have heard many times while reading reports related to Finance, that’s what he is good at. From Major Investments to Stock Market Updates, he got ’em all. Be ready to blow your mind by the mind-blowing reports of Finance World from Samuel Edwards.