AKITA network, Project Outlook #1
AKITA for the future.
For most of the AKITA communities life we have done what we could, with what we had.
Small humble beginnings are usually the recipe required to build the type of character that is required for an entity to achieve its full potential.
In just 4 months we initiated a community effort to develop a project that would allow AKITA to take the most efficient route to success, all while addressing the communities main concerns.
We formed Polarfox Labs, a group initiative by the earliest investors in the AKITA community.
Once Polarfox DEX is completed, work will begin on AKITA network, a decentralized social media platform. With the following structure.
AKITA token, hereinafter referred to as AKITA, is an ERC-20 compliant smart contract designed for deployment on the Ethereum blockchain. AKITA is a decentralized and fairly launched token intended to be used for interaction on the AKITA network. AKITA works in tandem with a community governance token called gAKITA that is used for voting on the movements of the community as a whole.
Mainnet launch for AKITA occurred on FEB 1st 2021.
Mainnet launch for gAKITA TBA
1.1 AKITA/gAKITA token purpose.
The core purpose of the AKITA token is to be used during interactions between users on a decentralized and anonymous social media platform. Any time that AKITA is used on the platform it will burn itself into a relative portion of gAKITA to be given to the receiver of positive interactions on the platform. For instance, an upvoted post that receives 1000 upvotes, the owner would receive 0.01 gAKITA.
gAKITA as a token carries inherently more extrinsic value than the AKITA token due to the fact that evolving dynamics on the platform could increase the value of the influence that gAKITA offers over the direction of the network.
1.2 The AKITA network Foundation
The AKITA network foundation will form an unincorporated nonprofit association. The AKITA contract and various affiliations such as social media platforms and webspace are being fully funded and developed by the AKITA foundation with the support of the community.
The AKITA foundation is dedicated to providing material through which anyone may understand the functions of our smart contracts. This step should foster trust with the community to better lay out the functions of our project.
The AKITA contract and gAKITA contract source code will be made public on Github after the launch of gAKITA. A PAID AND PROFESSIONAL AUDIT WILL BE DONE WITH THE OFFICIAL LAUNCH OF our v1 platform.
1.3 Motivation and principles
The world today is undergoing significant changes to autonomy, privacy and access to information. The entire reason reason that Satoshi Nakamoto developed bitcoin was to offer a decentralized way to store and transfer value. Decentralization is a FUNDAMENTAL and ESSENTIAL evolution of the human species and without it we would continue to be inefficient with our socio-economic, monetary and political policies. It only makes sense that social media becomes completely decentralized as well. A major principle in the design of the platform will focus on rewarding influential content creators with proportionate governance incentives.
2. Contract Functionality
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.
2.1 General properties
The contract defines the name as Akita Inu
The contract defines the name as AKITA governance token
(AKITA circulating supply =45,000,000,000,000) *Vitalik’s portion of tokens are considered burned*
(gAKITA initial supply= 55,000 + (45,000,000,000,000/0.0000000001 per AKITA burned during use)
Quadratic Voting Model for Governance.
More nerd stats to come with the official release of the AKITA network whitepaper.
and now for some fun.
DreamSwap is something fun for the community, come provide liquidity with other memecoins you might already own. If you do, you’ll earn $DREAM.
($DREAM) deployed on Ethereum Network.
Token allocation is 33,600,000.
Genesis distribution is 1.5M 1(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)
Single side AKITA staking paid from a 0.25% deposits on LP’s to create AKITA SAVINGS.
AKITA SAVINGS — 0.25% of AKITA deposits on the protocol come back to the AKITA SAVINGS Wallet, this is a single sided staking opportunity. The APY% will be relatively low compared to LP provision but better than sitting in your wallet not earning anything.
Yield Farming — Once the user adds Liquidity, the user can stake/farm their LP tokens to receive $DREAM rewards.
CHANGE AMM FEE to 0.295% instead of 0.3%
With the extra 0.05% send this to a treasury wallet that requires a multi-sig verification.
Burn 0.25% DREAM on transaction — 0.25% to treasury wallet.
Treasury will be sent to Arbitrage bot once a week to trade with a hedging strategy.
Over time the hedge bot will allow our treasury to grow safely, and securely.
0.5% AKITA DEPOSIT FEE on LP DEPOSITS — SEND 0.25% to AKITA SAVINGS WALLET and 0.25% to DEV WALLET.
Include Chainlink price oracle for token price calls.