Aloha DeFi is bringing the opportunities of non-fungible tokens (NFTs) to its thousands of users.
The decentralized project is proud to announce the launch of its NFT Staking platform that enables crypto users to win rare NFT’s by staking their ALOHA tokens.
The earned NFTs give each holder a say on Aloha DeFi’s future, depending on their rarity. NFT holders also gain access to exclusive perks and enjoy various incentives on the platform.
The newly launched NFT staking platform has already seen investors stake 8.5m+ coins for NFTs within 24 hours!
The NFT staking platform went live following the close of the Aloha public sale that started on Feb 21, culminating in a listing on Uniswap on Feb 28.
The ALOHA token, which investors received during the public sale, will be used for various solutions both in the DeFi space and in the real world.
For a minimum investment value of 0.1 ETH, participants in the sale received 2000 ALOHA, with the maximum investment of 10 ETH netting investors 200,000 ALOHA.
The public token offering was successful — the project now has enough funds locked in the treasury to develop and test the upcoming Aloha DApp in Q2 and Q3 of this year.
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How To Earn NFTs And Join The Staking Contest
Investors wishing to participate in the NFT staking contest are required to hold ALOHA for a definite period, after which they can claim NFTs to their wallet.
Users can stake between 30,000 and 200, 000 tokens for a specified period (between 10 to 21 days) to earn rare NFTs in exchange. The NFT received will have different rarities depending on the amount of ALOHA staked.
Once the NFT has been claimed, the user can un-stake the tokens and re-stake to earn another NFT of a different rarity or net an NFT in the same category but in a different design.
Interested users can start staking their NFTs on the platform today to earn rewards! Each staker can win up to 5 NFTs in total.
Users who opt to un-stake their Aloha before the agreed time won’t be eligible for NFTs. However, they will still have 100% of their Aloha refunded back to their wallet.
As an added incentive for holding, Aloha will distribute a portion of the transaction fees on the platform to NFT owners. Plans are also underway to partner with other projects, enabling ALOHA holders to stake their tokens in pools to earn exclusive NFTs associated with the specific project.
The Aloha Governance System
Aloha strives to stay true to its vision of being a community-driven project. To this end, the project plans to roll out its governance system that offers various opportunities for the community to get involved in its future progression.
The NFTs mentioned above give users voting rights that allow them to make proposals via the Governance system and decide on Aloha’s future development.
Essentially, users can hold between 1 to 50 votes in the governance pool, depending on the rarity of their NFT.
Furthermore, the governance system plays a vital role in creating a healthy ecosystem by allowing the community to propose creative and rewarding ways to use treasury funds.
By connecting to the DeFi world, the Aloha platform can become truly user-driven and benefit both investors and the community.
Wrapping Up
By connecting the world’s pioneering peer-to-peer Wi-Fi hotspot with DeFi, Aloha enables users to earn ALOHA tokens which can then be traded or spent throughout their marketplace.
Users who share their bandwidth can also stake ALOHA tokens to win NFTs through the project’s decentralized network.
The Aloha app is currently available on Android and iOS, with the Aloha 4 Business and the rewards system scheduled to roll out in Q2 of 2021. Work is also in progress to transition the working Aloha app into a decentralized application (DApp).
