By
Steve Muchoki
April 25th, 2024
Platforms such as Sanshu Inu are setting an example of the potential of blockchain-powered platforms without direct influence from any crypto whales.
Staking is a great way to earn an extra yield on existing assets and grow one’s crypto portfolio. It is one of the easiest and quickest ways to grow crypto assets without the need for any additional investment. Sanshu Inu Finance has devised an innovative model for staking meme coins, the Dogpark.
The Dogpark is an innovative staking platform where users can stake their meme coins (SHIBA, SANSHU, DOGE, etc.) to earn a meme-based index fund token. The platform allows users to stake their meme tokens to earn index fund tokens.
The current stats of MFUND are:
- MFUND Price: $0.15
- Total Supply: 100,000,000
- Circulating Supply: 6,038,384
- New MFUND/block: 257.858636596
- Contract: 0xddaddd4f73abc3a6552de43aba325f506232fa8a
Dogpark is already functional and anyone with meme tokens can participate in the process. The staking platform supports all popular meme coins, including SHIBA, DOGE, SANSHU, etc. The APR at the time of writing this article was 91%.
Sanshu Inu Finance is a decentralized community-based transaction network that aims to reduce market volatility and improve fairness. It does so by giving governance control to the community. However, a similar operational process is also seen with the DAOs, so what makes Shanshu Inu unique?
Sanshu Inu is unique in the sense that it does not allow any monopoly of the ecosystem by large holdings of $SANSHU tokens. The current highest percentage of $SANSHU in a wallet is about 1.3% which is likely to remain in the same bracket in the future.
In an interesting and unique turn of events, Sanshu Inu burnt 58% of its token supply to stop anyone or multiple entities from gaining a majority over the token decisions. This decision will stop crypto whales from gaining the majority and dumping it later to shift their market in their favor.
The team at Sanshu Inu consists of four crypto-savvy individuals with a solid technical background. They all work in harmony to promote a flexible and transparent work environment for their community.
Let’s take a brief look at the guiding principles of Sanshu Inu Finance:
- 58% of the total $SANSHU supply is burnt, which is publicly visible on Etherscan for everyone.
- $SANSHU operates on a redistribution system where 1% of every transaction is burnt, and another 1% is redistributed among the token holders.
- This redistribution mechanism incentivizes token holding, which in turn will promote community governance.
- Sanshu Inu did not conduct any pre-sale to give everyone a fair chance of getting $SANSHU.
The Sanshu Inu team is clear about its goal to promote decentralization and fairness in the crypto space by effectively tackling volatility. By creating a community-focused platform and burning more than half of their initial supply, they have doubled down on their ideals.
The decentralized finance and blockchain world was designed to prevent any entity from gaining control over the market. Platforms such as Sanshu Inu are setting an example of the potential of blockchain-powered platforms without direct influence from any crypto whales.