SUKU

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Discover SUKU's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is SUKU?

Suku (SUKU) is a cryptocurrency designed to empower brands and creators to engage with their audience in new ways, including the Metaverse. It operates on the Ethereum and Hedera ecosystems, serving as a governance token and a means to reward node operators and users. SUKU aims to enhance transparency throughout the entire product lifecycle and offers various key products such as OMNI, Infinite, and decentralized finance (DeFi) solutions.

How is SUKU used?

SUKU (SUKU) is a cryptocurrency that offers various solutions for users and brands to interact with Web3 technologies. Here are some key ways SUKU is used:

  1. Sukuthis: SUKU allows users to mint and claim crypto drops on Twitter by simply tagging @Sukuthis in a tweet. This enables users to collect NFTs and tokens without needing a crypto wallet.

  2. InfiniteWorld: SUKU provides access to InfiniteWorld, a metaverse infrastructure platform that bridges the digital and physical worlds. This platform empowers creators and brands to drive consumer engagement, monetize it, and create new experiences using NFTs and other crypto products.

  3. SUKU Omni: SUKU Omni helps brands revolutionize their supply chain data and analytics by incentivizing producers to provide manufacturing and sourcing data. This data is then used to create verified stories for consumers, promoting transparency and trust.

  1. SUKU DeFi: SUKU DeFi allows supply chain participants to access the project's DeFi protocol and receive incentives for providing data about products. These incentives can be used to access microloans, helping businesses grow further.

  2. Web3 Wallet: SUKU offers a user-friendly Web3 wallet that can be accessed through social media logins, making it easy for users to receive and send funds instantly, even to those without a wallet setup.

These solutions aim to make Web3 technologies more accessible and user-friendly, enabling brands and creators to engage with their audiences in new and innovative ways.

How do I store SUKU?

To store SUKU (SUKU) tokens, you have several options:

  1. Exchange Wallets: You can store your SUKU tokens in the wallet provided by the exchange where you purchased them. This is a convenient option as you can easily access your tokens for trading or other activities. For example, you can store SUKU on Binance Wallet or KuCoin Wallet.

  2. Non-Custodial Wallets: For enhanced security, you can transfer your SUKU tokens to a non-custodial wallet. This type of wallet gives you full control over your private keys, ensuring that you are the sole owner of your assets. Examples of non-custodial wallets include hardware wallets, Web3 wallets, and paper wallets.

  3. Cold Wallets: Cold wallets are offline storage options that provide the highest level of security. They can be either paper wallets, which store your keys in the form of QR codes, or hardware wallets, which store your keys in a physical device like a USB drive. Cold wallets are ideal for long-term storage and are less susceptible to hacking risks.

It is essential to choose a storage method that aligns with your needs and risk tolerance. Always ensure that you follow best practices for securing your private keys to prevent the loss of your SUKU tokens.

How to buy SUKU?

To buy SUKU (SUKU) tokens, follow these steps:

  1. Choose a Reliable Exchange:

    • Select a trustworthy centralized exchange like KuCoin, Binance, or Coinbase Pro, which support SUKU trading.
    • Ensure the exchange is reputable and has good user reviews.
  2. Create an Account:

    • Register on the chosen exchange's website or app by providing necessary information, including email and password.
    • Complete any required identity verification steps.
  3. Fund Your Account:

  • Deposit fiat currency using methods like credit/debit cards, bank transfers, or third-party payment services.
  • Alternatively, transfer existing cryptocurrencies like USDT, ETH, or BNB from another wallet or exchange.
  1. Buy SUKU:

    • Navigate to the exchange's spot market and find the SUKU trading pairs (e.g., SUKU/USDT, SUKU/BTC).
    • Place an order to buy SUKU using your deposited funds. You can use different order types like market orders, limit orders, or stop orders.
  2. Transfer SUKU to Your Wallet (Optional):

    • If you want to store your SUKU tokens securely, transfer them to a personal cryptocurrency wallet like Trust Wallet or Metamask Wallet.
Additional Tips:
  • Be cautious of market risks and price volatility.
  • Research and compare exchanges to find the best option for you.
  • Ensure you understand the associated risks and fees before making a purchase.
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History of SUKU

SUKU is a cryptocurrency project that was founded in 2016 by former Deloitte Blockchain executives. The project aims to revolutionize supply chain solutions and enhance transparency throughout the entire product lifecycle by utilizing blockchain technology. SUKU offers various key products, including OMNI, Infinite, and decentralized finance (DeFi) solutions, which enable tracking, lending, NFTs, metaverse integration, and introduce traditional companies to blockchain technology.

The project’s native token, SUKU, plays a vital role within the platform, serving as a governance token and a means to reward node operators and users. During private sales held in 2019, SUKU raised approximately US$16 million. The leadership of SUKU includes Yonathan Lapchik as the CEO, James Bower as the Chairman, and Addison McKenzie as the President. Lapchik brings over 12 years of experience working with Fortune 500 clients and previously served as the Product Lead for Deloitte’s US Blockchain Lab.

SUKU is headquartered in Miami, Florida, and its parent company is Citizens Reserve. The project positions itself as a gateway for brands willing to adopt Web3 solutions, offering a variety of tools and infrastructure to help companies adapt to the emerging Web 3.0 landscape.

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How SUKU works

SUKU (SUKU) is a cryptocurrency designed to empower innovative brands and creators by providing solutions to engage with their audience in new ways, including the Metaverse. Here's how it works:

SUKU Ecosystem

The SUKU ecosystem is built around several key components:

  1. Engage-2-Earn Solutions: These solutions allow brands and creators to interact with their audience in new ways, fostering engagement and monetization opportunities.

  2. NFT Marketplaces: SUKU supports non-fungible token (NFT) marketplaces, enabling users to create and manage unique digital assets.

  3. SUKU Omni: This product helps brands revolutionize their supply chain data and analytics by incentivizing supply chain participants to provide verified information about their products. This transparency benefits both consumers and brands.

  1. SUKU DeFi: The DeFi protocol allows supply chain participants to access microloans and receive incentives for providing data about products, further enhancing the supply chain ecosystem.
SUKU Wallet

The SUKU Wallet is designed to be intuitive and secure, making it easy for everyday users to manage digital assets. It aims to eliminate the barriers to mainstream adoption of Web3 technologies, allowing users to make online payments, collect digital keepsakes, and use decentralized apps seamlessly.

SUKU Pay

SUKU Pay is a payment solution that aims to simplify the process of sending and receiving money. It uses smart-contract-based wallets, which can be set up easily using a cell phone number. This eliminates the need for complex wallet setup and allows users to send and receive money without fees.

Staking

SUKU also offers staking opportunities, where users can commit their coins to support the network's operation and security. In return, stakers receive rewards, similar to interest on their investment.

Overall, SUKU is positioned as a gateway for businesses and creators to adopt Web3 solutions, providing a range of tools and services to facilitate engagement, transparency, and innovation in the digital and physical worlds.

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SUKU's strengths

The token SUKU (SUKU) has several strengths that contribute to its potential value and adoption:

  1. Transparency and Supply Chain Management: SUKU is a blockchain-based platform that aims to provide transparency in product authenticity and supply chain processes. This transparency can increase trust and efficiency in the supply chain, making it more attractive to businesses and consumers alike.

  2. Diverse Product Offerings: SUKU offers a range of products, including InfiniteWorld (a metaverse infrastructure platform), SUKU Omni (a supply chain data and analytics platform), and SUKU DeFi (a decentralized finance protocol). These products cater to different aspects of the supply chain and provide a comprehensive solution.

  3. Strong Leadership: SUKU is led by experienced professionals, including CEO Yonathan Lapchik, who has a background in blockchain technology and has worked with Fortune 500 clients. This leadership can help guide the project towards success and stability.

  1. Native Token Functionality: SUKU is the native token of the platform and serves as a governance token and a means to reward node operators and users. This token plays a vital role in the platform's ecosystem, ensuring that users are incentivized to participate and contribute to the platform's growth.

  2. Multi-Blockchain Support: SUKU operates on both the Ethereum and Hedera ecosystems, providing flexibility and adaptability in its blockchain infrastructure. This multi-blockchain support can help SUKU stay competitive and responsive to changes in the blockchain landscape.

  3. Strong Community: SUKU has a global community of token holders who make decisions about the project's future trajectory. This community-driven approach can foster a sense of ownership and encourage active participation in the project's development.

These strengths position SUKU as a comprehensive and innovative solution for supply chain management, making it an attractive option for businesses and investors looking to leverage blockchain technology.

SUKU's risks

SUKU, a Sharia-compliant cryptocurrency, is exposed to various financial risks. These risks can be categorized into several types:

Market Risk
  • Interest Rate Risk: Changes in market interest rates can affect the value of SUKU. If market interest rates rise, the value of SUKU may decrease, similar to fixed-rate bonds.
  • Foreign Exchange Risk: SUKU is exposed to foreign exchange rate fluctuations, which can impact the assets in the Sukuk pool and the currency in which the Sukuk funds are accumulated.
Operational Risk
  • Default Risk: The risk that an asset or loan becomes irrecoverable due to default or delay in settlements. This is particularly relevant for Ijarah Salam and Istisna'a contracts.
  • Credit and Counterparty Risks: Unique to Islamic finance, these risks arise from the nature of Islamic financial instruments that form the foundation of the Sukuk asset pools.
  • Performance Risk: Risks associated with Salam contracts, where commodities may not be supplied on time or to the agreed quantity.
  • Coupon Payment Risk: The risk that the obligor fails to pay required coupons on time.
  • Asset Redemption Risk: The risk that the underlying assets may not be fully redeemed when the originator has to buy them back from the certificate holder.
Liquidity Risk
  • Illiquidity: SUKU may face liquidity risks due to the lack of a well-structured and liquid secondary market, leading to certificates being held until maturity.
Other Risks
  • Settlement Risk: Risks involved with the Special Purpose Vehicle (SPV), where the originator has to reimburse certificate holders through a clearinghouse.
  • Asset Loss Risk: The risk of loss associated with the underlying assets, which can be mitigated by using provisions for insurance claims in the form of Takaful.
Sharia Compliance Risk
  • Sharia Non-Compliance: The risk that SUKU may not adhere to Sharia principles, which can impact its legitimacy and investor confidence.

Effective risk management strategies are crucial for SUKU to mitigate these risks and ensure long-term success.

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Did SUKU raise funds?

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SUKU’s team

  • Yonathan Lapchik: CEO of SUKU, a blockchain and crypto executive with a strong business and technology background, aiming to make the crypto onboarding process as simple as possible.
  • Ira Rothken: Employee at SUKU, part of the team working on the project.
  • Diego Ampuero: Employee at SUKU, contributing to the development of the project.
  • Reginald (Reggie) Flowers: Employee at SUKU, involved in the project's operations.

Whalee AI

The fundamental analysis assistant for crypto value investors.

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