Franklin Foundation’s SUI infrastructure, calculating ika airdrop revenue from token economics

Franklin Templeton's Chosen SUI Chain Infrastructure, Can ika Benchmark Walrus?

ika is the first millisecond-level Multi-Party Computation (MPC) network, with the team changing names multiple times like dWallet Network and Pera. Raised $7.5 million in funding, valued at $250 million.
The ika Token is issued on the SUI Blockchain, used to pay gas fees and node staking tokens, affecting node voting weight and fee sharing. ika has been repeatedly mentioned by Franklin Templeton, with features including:

• Scalable to 10000 tps, meeting institutional-level demands and real-time applications.
• Built on Sui, directly controlling native assets without cross-chain or wrap.
• Not using smart contracts, focusing on 2PC-MPC.

Since ika's trading volume on WhalesMarket is only $30,000, let's estimate the token price based on the official token economics. Initial token supply is 10 billion $ika, with 1.9 billion from community reserve, 500 million from ecosystem incentives, and 600 million from airdrop unlocked at launch, approximately 30% of initial supply. Token economics breakdown:

• 6%: Airdrop
• 8.25%: Ecosystem Incentives
• 46%: Treasury
• 23%: Early Contributors
• 16.75%: Early Investors

If Benchmarking Walrus, ika Price Around 0.21~0.23

The author believes ika, as infrastructure built on SUI, can benchmark Walrus, a decentralized storage protocol on SUI, with approximately 30% initial supply similar to Walrus. Walrus has a circulating market cap of $650 million, fully diluted market cap of $2.35 billion, with about 27% of total supply in circulation.

If benchmarking circulating market cap, ika price would be around 0.2167. If benchmarking fully diluted market cap, ika price would be around 0.235.

ika Airdrop Query Opened, Over 5000 ika is Top 10%

ika has opened airdrop query, expected TGE in July. Previously, ika sold Non-Fungible Tokens, with NFT staking seen as a method to obtain airdrop. The author tested that merely holding NFT without staking does not qualify for airdrop.

Case A: Pure NFT staking obtains 5000 $ika, approximately $1083~1175.

Case B: NFT staking and spending 100 $SUI to upgrade, obtains 47000 $ika, approximately $10184~11045.

Sui KOL @ADanmaigoro also reported a total of 596,955,687 $IKA airdropped, with over 120,000 addresses eligible. Only 165 addresses received over 500,000 IKA, and receiving over 5000 $IKA airdrop puts you in the top 10%.