Brands can prove their claims and grain consumers’ trust with Suku’s blockchain-based solution. Check out our “What is Suku?” guide to learn more. Covered: What Is Suku? Features of Suku Partners & Team Tokenomics What Is Suku? Nowadays, consumers are more conscious of their spending habits. As a result, a growing number of people prefer […] The post What Is Suku? appeared first on CryptosRus.

What Is Suku?

Brands can prove their claims and grain consumers’ trust with Suku’s blockchain-based solution. Check out our “What is Suku?” guide to learn more.

Covered:

  • What Is Suku?
  • Features of Suku
  • Partners & Team
  • Tokenomics

What Is Suku?

Nowadays, consumers are more conscious of their spending habits. As a result, a growing number of people prefer supporting companies that they can trust. Suku gives brands and retailers the transparency they need to meet this new demand using the traceability of distributed ledger technology through Hedera Hashgraph.

Suku’s blockchain-based solution bridges the gap between conscious consumers and brands by providing a means to verify product history and authenticity. As a result, consumers can follow a verified product’s entire journey from end to end. Likewise, brands can easily verify product claims such as being environmentally friendly and gaining consumers’ trust.

Additionally, the Suku Ecosystem uses the SUKU token to incentivize behaviors to create mutual benefits for all participants. For example, consumers get access to verified products while companies can also connect with these consumers. Furthermore, Suku provides access to an ecosystem of businesses without intermediaries for small businesses to explore new opportunities such as access to microloans.

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Features of Suku

As mentioned, Suku utilizes Hedera Hashgraph in their ecosystem. Furthermore, the Suku ecosystem has a trio of product offerings that help connect companies with conscious consumers. These products and features are listed below:

  • Suku OMNI: This product line enables brands to use GS1 standards and the public Hedera network to convey their product story. Consumers discover the product’s whole journey and even its carbon footprint.
  • Suku INFINITE World brings brands into the Metaverse through NFTs. Currently, in beta, the INFINITE world is an NFT Marketplace that uses Hedera Hasgraph’s digital ledger network to facilitate the authentication of digital IDs that give NFTs value. Furthermore, they offset their carbon emissions by supporting climate-certified projects such as planting trees in the Amazon forest.

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Partners and Team

Suku has multiple partners. Hedera Hashgraph has become Suku’s partner since they migrated to Hedera from Ethereum. Coinbase Custody is also Suku’s partner as they support Suku in enabling supply chain transparency. 

In their ecosystem, DreamView Studios has partnered up with Suku and chosen to utilize the technology to verify their products and create transparency with their consumers. DreamView Studios are known for creating CGI and Visual Effects for Disney, Pixar, and Electonic Arts. 

Yonathan Lapchick, CEO, James Bower, the Chairman/Co-Founder, as well as Addison McKenzie, President/Co-Founder, have many years of experience working in the tech field. Together, they lead a team of expertise in blockchain, supply chain management, technological development, entrepreneurship, marketing, and finance put together with the help of Citizen Reserve. Citizen Reserve is also Suku’s parent company.

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Tokenomics

The SUKU token is a utility token that drives the Suku ecosystems. As mentioned, participants are rewarded with SUKU when they perform mutually beneficial behaviors. For example, supply chain participants such as farmers and manufacturers are rewarded when sharing information about the Suku traced products. Other forms of utility include consumer engagement, platform governance, node operations, transaction fees, and more.

With a Max supply of 1.5 billion tokens, SUKU is distributed as follows:

  • 28% Trading Partners
  • 26.85 Technology Partners
  • 20% Operations
  • 12.9% Token Sales
  • 10% Team
  • 2.3% Initial Exchanges and Mining

Concerns:

Suku provides an excellent solution for brands and businesses, yet no roadmap or token release schedule is provided. However, this could also be because their focus seems to be more on B2B. Although they fast get brands into the NFT space, their NFT platform is still in beta, and Hedera NFTs are not as popular as NFTs on other ecosystems. Regardless, they are one of the few blockchain projects that are taking action in being more environmentally friendly. Most blockchain enthusiasts know how that caused a massive drop in BTC price in May of 2021.

Where To Buy SUKU?

You can purchase SUKU through KuCoin exchange, similar to how you would buy another cryptocurrency. You can either place a market buy or a limit buy. With a limit buy, you determine the price you are willing to pay, and your order gets filled once the token price reaches your limit price. If you want to get your hands on the token quickly, you can place a market order, where you agree to pay the current price and have your order filled almost immediately. If you are interested in purchasing SUKU, you can do so by visiting KuCoin, or Gate.io.

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