Dog-themed coin InuYasha aims to vet and donate to crypto projects that deserve a chance
In a fast-paced crypto world where meme coins seem to dominate the headlines regularly, there is one looking to steal the headlines for an altruistic and fundamentally valuable reason.
It’s called InuYasha. It’s a community-developed project that is half dog and half-demon. Other than that, it shares very little in common with its meme coin counterparts, who often use the Doge brand name, a ridiculously large circulating supply of tokens, and the false hope of getting rich off of a trending meme coin overnight that leaves behind many bag holders in the end.
The InuYasha whitepaper is developed by the community. It’s publicly available. It’s only two pages long, and the details of the whitepaper are subject to change at any time as the community sees fit.
From that standpoint, InuYasha is truly a grassroots-focused crypto project.
The Mission of InuYasha Is Much Bigger Than Memes
InuYasha’s mission is simple and it’s outlined directly in the whitepaper. The goal of the project is to “… transform the meme coin space forever and for good.”
The InuYasha token exists on the Ethereum blockchain and the whole reason the ecosystem exists is to act as a vetting and donation program for promising new token projects, charities and non-profit organizations that wish to benefit from the community-driven initiative.
The Tokenomics and Utility of InuYasha Have One Clear Goal
In a crypto world filled with venture capitalists and money-hungry investors, InuYasha exists to serve an altruistic purpose that allows token holders to vote on the change they wish to see happening in the industry and provides beneficiaries with the funds necessary to get their exciting projects off the ground.
Anyone who has studied the tokenomics of meme coins closely knows the circulating supply usually includes a large number of tokens valued at mere fractions of pennies.
InuYasha takes the same approach. There are currently just under 90 billion $INUYASHA tokens in circulation. That’s because over 10 billion of the 100 billion tokens minted have been burned at the time of this writing.
There is lots of room for the project to grow should the concept go viral. There are other interesting facets of the tokenomics model worth considering however that separate InuYasha from other meme coins.
How Do The Taxes Work?
The InuYasha ecosystem charges an 11% tax on buy and sell trades and sends equal portions of 2% towards things like marketing, development, and grant programs, liquidity pools and a strategic buyback program.
This means as long as InuYasha has trading volume, there will be capital available to worthy projects that need funding and want to go outside of traditional venture capital fundraising.
An Anti-Whale Dumping Mechanism
Buyback programs are becoming more popular in the crypto space as a way of preventing whales from dumping tokens and sending prices crashing in favor of short-term profits.
In addition to a strategic buyback program, InuYasha allows no single wallet to hold more than 1% of all InuYasha tokens. Effectively, making it difficult to organize a massive dump of the token.
An Exciting Future Ahead
With the final fiscal quarter of 2021 coming to an end, InuYasha already has its sights set on being listed on bigger centralized cryptocurrency exchanges.
The basic digital assets of the project are already in place for a full launch and the next step is to market that launch and announce strategic partnerships that are going to strengthen the project’s ability to accomplish its mission.
The best part is that anybody can apply for funding and receive between $20,000 and $50,000 from the project. It doesn’t matter if you’re an InuYasha token holder or not.
You can be an outsider to the community or be directly involved. Have a great idea and a reason to apply for funding? You’re eligible to give it a shot.
Any protocol, blockchain game, or token project that serves the betterment of the broader crypto community now has a fighting chance to get access to some crypto capital without being connected to big-time venture capitalists or having deep pockets themselves.
Cryptocurrencies at their core were always meant to be grassroots initiatives and InuYasha aims to bring that back in a way that other trendy meme coin projects never will.