Franklin Templeton's hand-picked SUI chain infrastructure, can IKA compete with Walrus?
Ika is the first millisecond-level multi-party computing (MPC) network. The team has changed its name several times, such as dWallet Network, Pera, etc. The financing amount is 7.5 million Mg, and the valuation is 250 million Mg. Ika tokens are issued on the SUI blockchain and are used to pay gas fees and node pledge tokens, affecting node voting weights and sharing handling fees. Ika has been named and paid attention to by Franklin Templeton many times. Its features include:
The performance can be expanded to 10,000 tps to meet institutional-level needs and instant applications.
Built on Sui, native assets can be directly controlled without cross-chain or wrap.
No smart contracts are used, and focus is on 2PC-MPC.
Since the transaction volume of ika on WhalesMarket is only $30,000, let's not talk about it for now. The token price is estimated based on the official token economics. The initial supply of $ika is 10 billion. When it goes online, 1.9 billion will be unlocked for community reserves, 500 million for ecological incentives, and 600 million for airdrops, which is about 30% of the initial supply. The overall token economics are as follows:
6%: Airdrop
8.25%: Ecosystem incentives
46%: Safe
23%: Early Contributors
16.75%: Early investors
If compared with Walrus, the price of ika is about 0.21~0.23
The author believes that ika, as an infrastructure built on SUI, can be compared to Walrus, a decentralized storage protocol on SUI, and about 30% of the initial supply is similar to Walrus. Walrus has a circulating market value of 650 million and a fully diluted market value of 2.35 billion, with about 27% of the total supply circulating in the market.
If the two are benchmarked by their circulating market capitalization, the ika price is about 0.2167. If the fully diluted market capitalization is benchmarked, the ika price is about 0.235.
IKA airdrop is now open for inquiry. If you have more than 5000 IKA, you will be in the top 10%
ika has opened airdrop inquiries and is expected to hold TGE in July. Previously, ika had sold NFTs, and staking NFTs was considered a means of obtaining airdrops. The author has tested that if you only hold NFTs without staking, you will not be eligible for airdrops.
Case A: Pure staking of NFTs to obtain 5000 $ika, approximately 1083~1175 US dollars.
Case B: Pledge NFT and spend 100 $SUI to upgrade, and get 47,000 $ika, about 10,184~11,045 US dollars.
Sui KOL @ADanmaigoro also calculated that a total of 596,955,687 $IKA was airdropped, and more than 120,000 addresses were eligible for airdrops. Among them, only 165 addresses received more than 500,000 IKA. If they received more than 5,000 $IKA airdrops, the number of airdrops would be in the top 10%.
This article Franklin Fund personally selected SUI infrastructure, calculating ika airdrop income from token economics first appeared in Chain News ABMedia.
