Tokenomics
The Saakuru token is a multi-purpose (utility & governance) token of the Saakuru Protocol with a burning mechanism that constantly reduces the total circulating supply.
Overview of SKR token
Abbreviation
Saakuru (SKR)
Token Type
ERC-20
Total starting supply
1,000,000,000 SKR
Current total supply
https://portal.saakuru.com
Decimals
18
SKR (Saakuru)
SKR (BNB Chain)
SKR (Optimism)
SKR (Ethereum)
Main Chain
Saakuru Network
The starting total supply of Saakuru token SKR at Saakuru Network is 1,000,000,000.
Governance: SKR token holders can vote on network governance decisions on the Saakuru Protocol
Developer whitelisting Model: Developers can reduce their monthly payments for Saakuru Network & Developer Suite usage by Staking SKR tokens.
Network Fees: Saakuru Blockchain and Product suite is 100% free for users (Gas-less). We have a delegation model with which Gas fees are absorbed by the network operator.
Native Liquidity & Collateral: The SKR token can be used on the Saakuru Network to serve as native liquidity and collateral.
The Demand Model
We created a credit-based system for system usage to keep Saakuru Blockchains' gas-less nature and ensure that the ecosystem is growing fast. The developer is charged based on the pricing by the network operator and software provider Saakuru Labs.
To make his solution cost-effective, the developer can Stake SKR tokens and refill his credit balance every Month based on the amount staked on the first day of the month.
The more active the ecosystem becomes - the higher the demand will grow. This model enhances the model and encourages games and other types of applications to use blockchain as a usual part of the internet software infrastructure.
If the developer is no longer capable of supporting the launched product, the DAO can vote to disable access to his smart contracts and other products from the developer product suite.
The Burning Model
Saakuru (SKR) token on the initial release date is released with a fixed amount of 1,000,000,000 SKR.
The reduction of total supply is executed on the several layers of protocol.
Developer Layer - Saakuru Labs provides a wide range of products and services, each with its own business model. 10% of the profit will be used to burn the token. The rate will be evaluated and adjusted each quarter.
DeFi Layer - facilitated by Taffy DEX technology, 0.005% of every fee collected from on-chain and cross-chain transactions throughout the Taffy DEX protocol is converted to SKR tokens and burned.
Governance Layer - The SKR token is used as a voting token for the governance model. 5% of tokens used to initiate the review process are burned.
Protection Layer - The SKR token is burned in case the SKR token protection mechanism is triggered. 3% of saved tokens will be burned.
Allocations
*allocations are subject to change.
Transparency Portal
To provide a transparent overview of the ecosystem's growth, Saakuru has launched a transparency portal. Its initial purpose is to provide a transparent source of information about the ecosystem's growth and token usage. Moreover, users will be able to perform all the most important cross-chain & DeFi actions in one place (Fiat-on-ramp, swap, bridge, etc).
Summary
The Saakuru Protocol leverages its SKR token for governance and a unique economic model. With an initial supply of 1 billion tokens, SKR enables voting on network decisions and offers a staking system for reduced developer costs. The protocol ensures a gas-less experience and an accessible and efficient environment. Demand for SKR is driven by developer credits and their utility. A key feature is the token's burning mechanism, reducing SKR's total supply through transaction fees, DEX operations, governance actions, and a protection layer. This approach aims for sustainable and participative growth of the Saakuru ecosystem.
