Comparing Meme Coin DogeMiyagi To The Token Economy Of Bitcoin And Ethereum

The token economy is the economic system in which the goods and services of a product or platform can be tokenized by the platform. Every crypto has this at its core, but it important to understand what sets a good token economy apart from the rest. Bitcoin (BTC) and Ethereum (ETH) are the biggest cryptos in the world by market cap, which allows them to be a perfect example of a good token economy.

DogeMiyagi (MIYAGI) is an upcoming meme coin and platform currently in a presale that has recently been generating a fair amount of buzz in crypto communities everywhere. While it popular, what is its token economy, and is it good enough to compete with the biggest cryptos?

DogeMiyagi Core is Community

The strength of the community is at the centre of DogeMiyagi's token economy. This spirited and committed group of supporters actively contributes to the ecosystem's expansion. They disseminate information, invite people to join, and add gasoline to the success of DogeMiyagi. It reminds me of a ridiculous funfair where the energy is high.

The idea of staking is also embraced by DogeMiyagi's tokenomics. Users strengthen the security and decentralisation of the network by locking up their tokens. Users take on the role of guardians of the DogeMiyagi kingdom, defending it from the grasp of nefarious hackers in what resembles a game of trust.

Bitcoin and Ethereum: Token Heavy Hitters

Let's now pan out and look at the two cryptocurrency heavyweight champs, Bitcoin and Ethereum. These giants, each with its own economic model, have distinguished themselves as the industry's gold standard.

The crypto world's pioneer, Bitcoin, uses a deflationary business strategy. With only 21 million coins available, scarcity is what determines the value of Bitcoin. It's comparable to possessing a valuable collector's item, where rarity increases allure and raises prices. Regardless of how much you own (considering how high the price of a single whole Bitcoin is), it important to keep them secure in your wallet; they are truly a digital treasure.

Then there is Ethereum, the pioneer who popularised smart contracts. The economic structure of Ethereum is a unique creature. The network is powered by Ether or ETH, which is its native currency. To interact with smart contracts and pay transaction fees, users require Ether. Similar to a cool arcade, the games require ETH tokens to be played.

How Things Come Together

The token economy of DogeMiyagi distinguishes itself from that of Bitcoin and Ethereum by adopting a more lighthearted and community-driven philosophy. DogeMiyagi throws a crazy party where community involvement and interaction take centre stage while Bitcoin and Ethereum concentrate on scarcity and utility, respectively.

Without question, the crypto revolution has been made possible by Bitcoin and Ethereum. They have earned a spot in the Hall of Fame of cryptocurrency. But DogeMiyagi gives a novel and humorous perspective on the cryptocurrency story with its cheeky appeal and distinctive tokenomics.

Going beyond the token economy, DogeMiyagi simply has many other things going for it, which are exactly what allows it to even be compared to the top 2 cryptos in the world. This includes its upcoming NFT collection that only those within its secret club will have access to, the Killer Swap Machine that will allow users to trade the native token for Ether and, of course, its lucrative 10% commission referral system!

DogeMiyagi clearly takes inspiration from Bitcoin and is literally built on the Ethereum Blockchain, which means it takes its token economy in a similar direction to theirs fundamentally despite the outward differences. The token is perfectly balanced, just as all things should be - and its platform will be too, once, it launches.

For more on DogeMiyagi, check out the links below:

Website: https://dogemiyagi.com/

Twitter: https://twitter.com/_DogeMiyagi_

Telegram: https://t.me/dogemiyagi