Unveiling IKA: Sui Infrastructure and Tokenomics

In the ever-evolving world of blockchain and cryptocurrency, new infrastructures often herald significant changes in how the market functions. One name that’s currently capturing attention is IKA, a cutting-edge infrastructural project developed on the Sui blockchain. With major investors such as Franklin Templeton spotlighting its potential, IKA is positioning itself as a game-changer in the crypto space.

The Rise of IKA on Sui Blockchain

IKA is lauded as the first millisecond-level multi-party computation (MPC) network, a feat achieved through multiple transformations from its previous monikers, including dWallet Network and Pera. Backed by a $7.5 million funding round, IKA boasts a valuation of $250 million. The token, issued under the Sui blockchain, serves mainly as a gas fee payment method and a staking token, thereby influencing node voting weights and transaction fee sharing. This focus on high scalability, up to 10,000 transactions per second (tps), aligns it with institutional needs and real-time applications while operating without smart contracts.

• Scalability performance that meets institutional-grade and real-time application needs.
• Built on Sui, it allows direct control of native assets without cross-chain wrapping.
• Focuses on 2PC-MPC without the use of smart contracts.

Token Economics of IKA

At IKA’s launch, 10 billion tokens will initially circulate with 30% unlocked for community reserves, ecosystem incentives, and airdrops. This is detailed further in their tokenomics report. The initial distribution channels include:

• 6% for airdrops
• 8.25% for ecosystem incentives
• 46% for treasury
• 23% for early contributors
• 16.75% for early investors

Comparative Analysis: IKA vs. Walrus

Experts predict that IKA, as a foundational component on the Sui infrastructure, could mirror similar protocols like Walrus. With an initial supply structure reminiscent of Walrus, IKA’s projected price hovers between $0.21 and $0.23, based on flow and fully diluted market capitalization comparisons. Walrus boasts a circulating market cap of $650 million and a fully diluted cap of $2.35 billion, with 27% of its total supply in circulation. If IKA aligns with these metrics, its projected market behavior could see it reaching comparable valuations.

Airdrop Insights: What to Expect

The IKA team has opened up for airdrop queries, accessible online, anticipated to take place in July. Previously, NFT holders were suggested as early airdrop beneficiaries, emphasizing NFT staking requirements for eligibility. Experiments demonstrate that merely holding but not staking an NFT does not qualify one for the airdrop.

For instance, a scenario of staking only yields 5,000 $IKA, valued between $1,083 and $1,175. Conversely, staking alongside a $SUI expenditure could result in 47,000 $IKA, equating to $10,184 to $11,045.

Further insights shared by Sui influencer @ADanmaigoro reveal that over 596 million $IKA tokens are set for airdrops, spanning more than 120,000 eligible addresses. Notably, only 165 addresses hold over 500,000 $IKA, illustrating a significant yield for those above the 5,000 $IKA mark, placing them in the top 10% bracket.