Decentralization Strategy to be Community Currency: Understanding Tokenomics and Sekuya's Approach

Tokenomics, a portmanteau of "token" and "economics," is a term that describes the economic principles underlying the value of cryptocurrencies. It encompasses everything from a token's supply and issuance to its utility and demand. A well-designed token economy with smart incentives is more likely to succeed than one that hasn't built an ecosystem around its token. When launching a project, developers must consider tokenomics carefully if they want their native cryptocurrency to attract investment and succeed.

Sekuya, a decentralized metaverse project, recently distributed 99% of its GGWP private wallet, which constitutes 4.7% of the total supply. With 97% of the circulating supply belonging to the community and 53% burned, Sekuya is prepared to make its vision of a decentralized metaverse a reality.

Tokenomics determines the incentives that encourage investors to buy and hold a specific coin or token. Developers can alter the structure of a cryptocurrency's economy to influence its demand and price. For instance, mining and staking are core incentives for decentralized networks to validate transactions. Yields on staking tokens incentivize people to buy and stake tokens, while token burns permanently remove tokens from circulation to reduce supply.

Sekuya's approach to decentralization involves distributing tokens to the community, burning a significant portion of the supply, and relying on the auto-burn mechanism, where 5% of the tax is distributed among holders, including dead wallets. This approach results in a higher token burn and a community-driven economy. Additionally, Sekuya conducts an annual SKUY airdrop of 100% of its marketing wallet, providing more perks to holders.

With the end goal of achieving total supply of 200 billion $SKUY, Sekuya's tokenomics strategy aims to create a community currency that aligns with its vision of a decentralized metaverse. The project's target is to reach 1 million holders on decentralized exchanges.

In conclusion, understanding tokenomics is crucial for investors and developers alike. Sekuya's approach to decentralization and tokenomics provides an excellent example of how to build a community currency that aligns with the project's goals. With the majority of the circulating supply belonging to the community, Sekuya's vision of a decentralized metaverse is well on its way to becoming a reality.