The Akita Ino token, which operates on the Ethereum blockchain ERC-20 network, is actually a memecoin. The name Akita is derived from a Japanese dog breed and this token was created just based on a simple joke like Dogecoin, which became very popular in the world of digital currencies after being promoted by celebrities. The Akita Inu token currently has over 45,000 investors, a dedicated team known as Polarfox, and many moderators contributing to the community federation. One of the most important goals of this network is to make Akita independent and convert the Akita Ino token into a real coin.
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History of digital currency Akita
In February 2019, the Akita Ino token started operating as a joke and a meme coin in the world of digital currencies. This project, which operates on the Ethereum blockchain platform, aims to make its token independent and introduce itself to the world as a real cryptocurrency like Bitcoin. As said, Akita was created only as a joke, but what happened that Akita became popular all over the world and its price value grew? As you read in the Dogecoin article, after Elon Musk tweeted about Dogecoin and encouraged people to buy it, Dogecoin experienced a significant growth in price value, and this also applies to Akita.
Elon Musk’s talk about memecoins made many people interested in the memecoin market, because most users believe that what happened to Dogecoin will happen to other memecoins as well. But the main reason for the increase in popularity of the Akita token was Vitalik Buterin. Butrin is the creator of Ethereum, who owns half of the entire Akita project.
Shiba token is also one of the other currencies that Buterin has kept in hold mode. Butrin’s holding of these tokens created a lot of buzz and led to a massive growth of people switching to memecoins.
Akita Ino Token Fundamental Chart:
Vitalik Buterin in Akita
The main information about the Akita token is that Mr. Vitalik Buterin, the creator of Ethereum, holds 50% of the total tokens of this project. In fact, Vitalik has kept two currencies Shiba Inu and Akita Inu on hold. This issue has caused a lot of noise in various digital currency media, and many people believe that Akita currency can be one of the most expressive meme coins in the future.
Akita Ino network
Since May 2021, three projects have been working with the Akita network, and we will explain each one below.
1. DreamSwap exchange on Ethereum: In this exchange, users can stake the Akita Ino token along with other dog tokens.
2. Avalanche Ethereum blockchain bridge: It allows users to send Akita tokens to Avalanche blockchain and vice versa.
3. Polarfox Decentralized Exchange: The main project of the Polarfox team operates on the Avalanche blockchain, of which Akita is a part.
According to research conducted, Polarfox exchange uses Akita Ino token in its operations in three ways:
Implementation of Akita rule in Polarfox.
gAKITA (Akita Sovereignty Token) which is obtained in Polarfox exchange.
Users need a certain amount of Akita tokens to access the Polarfox token presale.
How to fund the Akita Ino token
The development team of the Akita project (Polarfox) is currently working on the Polarfox DEX, website, DreamSwap and blockchain bridge without any budget, with many of the development team working even on weekends to achieve the project’s goals. According to the development team, Akita raised its capital by holding a small percentage of the Polarfox token at the start of the project and receiving fees of 0.03% per Polarfox exchange transaction. Despite the inflationary nature of the Polarfox token, abbreviated as PFX, this alone could be enough to fund the Akita project.
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The forming team of the Akita project
Leadership team
Clem: As lead developer
Relic: As the supervisor of the whole project
Polarfox development team, the bridge between the Avalanche blockchain and Akita’s official website
Hans Dampf: Akita website designer
Nicolas Hebrard and Anthony Dalin: The Quality and Robustness of Structure, Implementation
The DreamSwap team
Mehir Widekar and Chaitenya Gupta: Structural Quality and Robustness, Executive
Marketing team
CryptoNurse aka Geena Scalzo: Team Management
Bernie aka John Hua: Management and Marketing
Austin Dash: Project Marketing
Tony Try: FinTech developer
Ryan MacGavin: Project Community
Total supply and how to get Akita Ino Token
One of the biggest advantages of Akita is its unlimited supply. Akita has 100 trillion tokens, 50% of which belong to Butrin. Unlike Bitcoin, which has an unlimited and near-exhaustive supply, Akita’s supply is so high that it’s best to consider it unlimited. Unlike PFX, gAKITA and Dream, the Akita token cannot be mined. Currently, you can buy and sell Akita at reputable UniSwap, OKX and Gate.io exchanges.
Important note: Currently, it is not possible to buy and sell Akita tokens on the Binance exchange. So, if you are contacted about buying Akita on Binance, avoid the transaction, it is definitely a scam.
Suggested article: How to buy Akita in UniSwap
Can Akita Ino Token Replace Dogecoin?
First, it is better to check why Dogecoin has become the 6th rank of CoinMarketCap? Dogecoin, which was created in 2013 as a peer-to-peer digital currency, was just a joke. Of course, this cryptocurrency had its own blockchain. But with the passage of time and the intervention of Elon Musk, he was able to rank himself among the most popular cryptocurrencies in the world of digital currencies. As mentioned, half of Akita’s supply belongs to Butrin. Holding 50% of Akita shares by Buterin and his tweets made Akita Ino famous.
Some digital currency experts have predicted that Akita can be a suitable alternative to Dogecoin in the future; Because Akita’s independence is one of the most important goals of this project.
last word
In the beginning, Akita was a meme coin without a team or a goal. But nowadays it has gained a lot of popularity among people. A dedicated team, specific goals, Butrin’s support and famous people are among the things that contribute to the growth of this token. With all these things in mind, the future of this currency cannot be fully assured, as many investors and traders still consider Akita a joke. Every digital asset needs to be popular in order to grow its price value; Therefore, the future of the Akita Ino token can be assured when most investors support it.
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