Franklin Fund's close-to-the-point SUI infrastructure, calculating the Airdrop earnings from tokenomics Ika.

Can the SUI chain infrastructure appointed by Franklin Templeton benchmark Walrus?

ika is the first millisecond-level multi-party computing (MPC) network. The team has changed its name several times, such as dWallet Network and Pera. The funding amount is 7.5 million USD, with a valuation of 250 million USD. The Ika token is issued on the SUI blockchain, used for paying gas fees and staking tokens, affecting node voting weight and sharing fees. ika has been highlighted multiple times by Franklin (Franklin Templeton), and its features include:

It can be scaled to 10,000 tps in performance, meeting institutional-level demands and real-time applications.

Built on Sui, directly control native assets without cross-chain or wrap.

Do not use smart contracts, focus on 2PC-MPC.

Due to the trading volume of ika on WhalesMarket being only 30,000 USD, let's set that aside for now; the token price is estimated based on the tokenomics announced officially. The initial supply of the token is 10 billion $ika, of which 1.9 billion will be unlocked from community reserves, 500 million for ecological incentives, and 600 million for airdrops at launch, accounting for approximately 30% of the initial supply. The overall tokenomics are as follows:

6%: Airdrop

8.25%: Ecosystem Incentives

46%: Vault

23%: Early Contributors

16.75%: Early Investors

If compared to Walrus, the ika price is about 0.21~0.23

The author believes that ika, as an infrastructure built on SUI, can benchmark the decentralized storage protocol Walrus on SUI, with approximately 30% of the initial supply being 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 circulating market cap is compared, the ika price is approximately 0.2167. If the fully diluted market cap is compared, the ika price is approximately 0.235.

The ika airdrop is now open for inquiry, and over 5000 ika qualifies for the top 10%.

ika has opened up the inquiry for airdrops, which is expected to take place in July during the TGE. Previously, ika sold NFTs, and staking NFTs is seen as a means to qualify for airdrops. The author has tested that simply holding the NFT without staking does not qualify for airdrops.

Case A: Purely staked NFT earns 5000 $ika, approximately 1083~1175 USD.

Case B: Stake NFT and spend 100 $SUI to upgrade, earn 47000 $ika, approximately 10184~11045 dollars.

Sui KOL @ADanmaigoro also reported that a total of 596,955,687 $IKA was airdropped, with over 120,000 addresses qualifying for the airdrop. Among them, only 165 addresses received more than 500,000 IKA, and if you received more than 5,000 $IKA from the airdrop, the amount is in the top 10%.

This article discusses the SUI infrastructure of Franklin Fund, with an analysis of the tokenomics and the potential airdrop yields first appearing in Chain News ABMedia.