In May 2021, an unknown creator released Saitama Inu on the Ethereum (ETH) network. The fundamental objective of the initiative is to teach younger generations, particularly Generation Z, about investment. SAITAMA tokens trade at $0.000000004174 per token, with a circulating supply of 44.6 quadrillion and a market capitalization of $1.86 billion.
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What Is Saitama Inu?
Saitama Inu (SAITAMA) is a decentralized platform to educate young people about investing and empowering users to build their wealth chances. For this reason, the designer of Saitama Inu designed a basic crypto environment to promote crypto literacy among the younger generation while guaranteeing its accessibility to the elder age. Now, the Saitama Inu project focuses on creating the project’s wallet, edutainment, market, NFT-based launchpad, and in-house entertainment in addition to investing.
What exactly is a Saitama Inu Coin?
Saitama Inu use an indigenous token named SAITAMA. According to the project’s whitepaper, the token logo was inspired by a Japanese tale about guardian “ghost dogs” in the mountains of Saitama, Japan. The ERC-20 token SAITAMA is classified as a meme token. As a dog-themed meme currency, SAITAMA has lately garnered some attention from the crypto world. During the Dogecoin (DOGE) and Shiba Inu (SHIB) frenzy of the last year, dog-themed meme coins in general attracted a great deal of attention and saw price increases.
Three attributes of Saitama Inu
The SAITAMA coin and the Saitama Inu project are distinguished by three characteristics:
- The passive income scheme used by Saitama Inu is advantageous for its users. Users that stake their tokens in the Saitama Inu pool will get rewards derived from transactions using the SAITAMA cryptocurrency. 2% of each transaction is deducted and allocated to the Saitama Inu community as incentives. In other words, as long as they remain in the pool, members will get passive income whenever a transaction occurs inside the community.
- The deflationary currency concept suggested by the team protects token holders against inflation. According to the research, the entire amount of Saitama Inu tokens is 100 quadrillion, of which 55% have been burnt and just 45% are in circulation. 4% of the remaining 45%, according to the Saitama Inu team, are locked in Uniswap (UNI) for initial liquidity. In order to raise the value of the Saitama token, an additional 2% of tokens will be burnt with each transaction.
- Saitama Inu employs an “anti-whale trap” to guarantee that all users get equitable income. Saitama Inu coded the token to prevent big holders from dominating the liquidity to achieve this method. This anti-whale mechanism is encoded inside Saitama Inu’s smart contract and helps Saitama Inu resist selling pressure created by whales, or people with big SAITAMA holdings, who dump tokens in large quantities all at once.
What Does the Future Hold for the Saitama Inu?
According to its development plan, Saitama is presently in its last phases of construction. Saitama intends to offer the Saitama fan token, launch Saita Mask V1 and SaitaMaker, and forge further collaborations in the last phase, which seeks to achieve 200,000 holders or wallets. The introduction of the NFT-based launchpad may enhance Saitama Inu’s user base as a result of the current NFT craze.
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