Aloha DeFi Combines the Appreciation of NFTs with the Simplicity of Staking

Project Reviews / 04.03.2021

Aloha DeFi combines the best features of decentralized finance with the growing ROI potential of NFTs to provide users with a unique opportunity to earn effortlessly. The network allows anyone to stake its native utility token, ALOHA. In return, they receive rare collectible NFTs. Uniquely, these NFTs also offer users more control over the platform’s future developments. 

Aloha already sees surprising adoption. For example, users staked over 8 million ALOHA in the first 24-hours of launch. These statistics fall in line with the greater NFT trend. Impressively, some NFT tokens have sold for hundreds of thousands of dollars. The growing demand for NFTs ensures that Aloha is positioned ideally in the market moving forward.

Benefits of Aloha DeFi

Aloha DeFi’s approach to the market introduces a variety of benefits not available anywhere else. The platform simplifies the acquisition of NFTs and makes it so anyone can get their hands on these scarce tokens. Additionally, the platform intends to offer an entire DeFi ecosystem to users in the coming months.

Passive Income

One of the main advantages Aloha DeFi users enjoy is access to a passive income. The platform leverages various ways to incentivize NFT holders and Aloha token users. Combined, new users can easily start earning rewards without any prior blockchain knowledge. In this way, Aloha DeFi provides a better alternative to trading tokens.

Appreciation

Since Aloha DeFi issues NFTs to its users, there is a far greater scarcity of the project’s rewards. NFTs (non-fungible tokens) differ from traditional tokens in that they are 100% unique. Each NFT is blockchain verifiable. In this way, you gain an extra layer of ROI potential compared to other DeFi staking protocols.

How Does Aloha DeFi Work

Aloha DeFi combines two of the fastest-growing sectors in blockchain, staking and NFT tokens. The network’s developers went to great lengths to simplify the staking process. There are no technical barriers, and the platform’s interface is designed so that new users can find all the core functionalities of the platform in seconds. Here are some of the most important features of Aloha DeFi.

Staking Pools

At the core of Aloha is its unique staking protocol. Like most DeFi platforms, users lock their tokens up in staking pools. The network offers a variety of pools with different minimums and lockup periods. Unlike the competition, there are no penalties incurred if you need to withdraw these funds from the pool early. However, you will not be eligible to receive your NFT if you decide to remove your ALOHA before the predetermined staking period is complete. 

For those that stick to their commitment, there are incentives. Specifically, you are awarded an NFT. Notably, users have the ability to predetermine both the rarity and overall network influence their NFT will hold from the start of the staking period. The more you stake, and the longer you participate in the pool, the more exclusive your NFT reward.

Primary Staking pools

Aloha DeFi offers users three distinct options in terms of staking pools at this time. The first staking pool has a lock-up period of just ten days. This pool has a minimum staking amount of 10,000 ALOHA. For this level of participation, you receive a rare NFT

The next option provides stakers with an ultra-rare NFT. You will need to lock your ALOHA up for only 14 days to be eligible for this bonus. This pool requires that your stake at least 90,000 ALOHA tokens. Lastly, there is a VIP staking pool that provides its participants with an exclusive VIP NFT. To be a part of this pool, you will need to stake 200,000 ALOHA for 21 days in total.

Partnerships Staking Pools

The developers introduced a special partnership staking pool in the form of ALOHA/XYZ. Anyone who joins this staking pool receives their rewards in the form of a limited edition NFT that commemorates the strategic partnership. Notably, this partnership staking pool demonstrates the expandability and interoperability Aloha DeFi’s developers hope to continue to provide the market. 

Aloha Wallet

Another critical feature of the Aloha DeFi’s ecosystem is the network’s wallet. This easy-to-use protocol allows users to store ALOHA and Aloha NFTs with ease. The wallet simplifies the staking process in many ways. For example, you receive your NFTs upon the completion of your staking period directly in your wallet. 

Aloha Treasury

The Aloha treasury plays a vital role in the ecosystem as well. There is a 3% treasury fee taken from every transaction. These fees get redistributed amongst the community. Specifically, NFT Holders receive 10% of the 3% fee. The remaining balance is split between the community treasury (70%) and the future marketing and development (20%) ecosystem.

Governance

Aloha introduces a proprietary decentralized governance structure that adds value to the platform’s NFTs. Aloha users can submit project proposals directly. All NFT holders then vote on these proposals. Aside from network upgrades and alterations, the community also gets a say in how the treasury funds are spent. 

NFT Voting Scale

In the Aloha network, NFT holders have control. While every NFT holder gets a vote, not every NFT holds the same value in its voting power. Rare NFTs are eligible for one vote, ultra-rare NFTs represent five votes, and exclusive VIP NFTs control fifty votes.  

Uniswap Listing

Those interested in participating in this network will be happy to learn that ALOHA is already available on Uniswap. The network officially launched its liquidity pool on February 28, 2021. Keeping in line with its company roadmap, the platform has begun staking options, and the network’s governance protocol is set to launch any day.

Aloha DeFi – A Smart Combination of Features to Provide Investors New Earning Opportunities

It’s easy to see that the developers behind this unique concept wanted to provide users with access to the most profitable DeFi features available. The combination of NFTs with community governance is a first in the market and sure to spawn some copy cats in the coming months. For now, Aloha appears to have found a healthy mix of features that are sure to entice new investors.

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David Hamilton aka DavidtheWriter is a long time Bitcoinist and cryptocurrency journalist. Currently, he has over a thousand articles published on blockchain technology. His expertise and experience makes him one of the most reputable writers in the sector.