While analysts predict a weaker Bitcoin in the mid-term, Aloha’s feature-packed SHAKA ICO is gaining interest
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Since the Russian invasion of Ukraine, Bitcoin has surprisingly leaped as people in those countries fear a stagnant devaluation of their fiat currency issued by their respective governments. Bitcoin is currently trading at $43,627.90 from its low at $34,000 levels when the war broke out. The Ruble-BTC trading volume has surged past its nine-month high as the Ruble continues to drop against the dollar. The trades went as high as $1.5 billion, as per blockchain analytics company Kaiko.
However, analysts predict sloppy mid-term returns on Bitcoin, as they predict U.S. Fed rate hikes and higher inflation rates due to war. In such times both risk-averse and risk-takers (investors) should turn to upcoming fintech applications offered in the DeFi space.
Decentralized Finance (DeFi) is one of the upcoming sectors where fintech will see extraordinary growth, providing many flexible instruments to earn profits. One of the many upcoming projects in DeFi is Aloha Shaka DeFi.
The company is set to launch its Initial DEX Offering (IDO) for its SHAKA platform. Primarily a yield and farming generation platform, it will host several coins like Aloha, Matic, Shaka, USDC, BTC, Ether, SHAKA/USDC LP, ALOHA/USDC LP token at launch. However, more tokens will be added in the future. .
What’s exciting is that the platform will be launching its token through an ICO. The Shaka token will have a total supply of 3.75 billion, with a listing price of $0.001. The Shaka platform will allow users to stake their tokens in return for Shaka rewards. However, there’s a catch. The interesting thing about this platform is that if you deposit USDC, for example, you will get both USDC and SHAKA rewards in return. The same will be true for all other coins staked on the platform (including BTC & ETH).
The company will offer only 40% of Shaka tokens for the ICO. 50% of the coins will be set aside for rewards and 10% for the Aloha team. Five hundred thousand coins will be reserved for the private sale, 500,000 coins for Unicrypt public sale, and 500,000 for the public sale.
The company plans to raise $1.5 million via token sale, out of which $300,000 will be invested in the Metaverse and GameFi projects on Polygon. Aloha plans to make their platform where users will be able to access all possible profit-churning instruments available in the DeFi space. 15% of the raised funds will be used for marketing and PR purposes. Another 15% will be used for Platform development, and 50% of the funds will be used for buying crypto liquidity — 30% ETH + 70% MATIC.
Aloha promises to fill the gap in the DeFi industry as it wants its Shaka platform to be an accessible and simple platform that will not compromise versatility and efficacy. According to the Aloha team, led by CEO Martin Regan and CTO Phillip Legg, the DeFi space is relatively inaccessible to the general public, who often do not understand the cryptocurrency and DeFi world due to a lack of clear information and education.
Aloha resolves that issue by making it simple, to begin with, the system and its DeFi administrations with a couple of clicks. This smoothed out approach makes it far more straightforward for the possible user to acquire a more prominent comprehension of DeFi.
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