ALOHA meaning in Cryptocurrency ?

Aloha is a service that offers benefits to both crypto and non-crypto users, leveraging on the idea of unused data to allow users of its application to share their WiFi hotspots for free in exchange for Aloha tokens. These ALOHA tokens can be used to stake for non-fungible tokens (NFTs) and to achieve governance votes as stakeholders in Aloha’s community.

With the goal of becoming a tool in both the decentralized finance (DeFi) and real world, the Aloha app is built with the intention to transition into a decentralized application (DApp), creating the world’s first bridge between mobile phone data and cryptocurrency. The Aloha network utilizes social media network platforms for greater accessibility and ease of usage, such as a Telegram channel where users can get fast updates, as well as branching out to reach more users through Reddit, Facebook, Instagram, TikTok and Bitcointalk. Beyond the collection of tokens, Aloha’s users can also expect to be part of a decentralized organization (DAO) community that allows one to vote for others’ proposals or create their own. True to its name, Aloha brings a spirit of fun to the cryptocurrency world – it facilitates Twitter discussion chats, offers prizes for participants who engage in its social networks, and also hosts giveaways.

Aloha has been led by Martin Regan since 2018. The former managing director has 10 years of experience across various business centres, including a year as a director of a WiFi company from 2014 to 2015. The Englishman has declared his career to be more than just that, but as a way of life. Philip Legg is the CTO of Aloha. The former programmer has held the role in the company since 2015, before Martin took on the CEO role. Philip has spent more than 20 years in the software industry.

According to their website, the Aloha team has 9 full-time members as of August 2021.

Aloha is unique for being the first of its kind to monetise unused data and allow non-crypto users to benefit from the crypto industry, creating a mutually beneficial relationship between users and non-users in a perfectly synced ecosystem. Users can also participate in collecting NFTs, or hold voting power in the platform. The staking process for NFTs is kept simple through Aloha’s integration with Polygon.

There are many ways to earn money with Aloha. For a start, hotspot sharers get paid with loyalty tokens based on the frequency and volume at which they share their WiFi with guests. In addition, watching advertisements also helps you earn loyalty tokens too – you are able to choose how many messages and what type to push out, so you’re essentially working together with the advertisers for mutual benefits.

As part of a network forming community, users also earn loyalty tokens for recommending others to join the Aloha network. These include business users and suppliers, among others. Businesses increase viewers of your network by up to 50% within three months, a surefire way to watch your business grow. Aloha’s business model leverages on an un-monetised resource to help crypto users enter the field of cryptocurrency easily, through sharing of their unused mobile data. Smartphones are ubiquitous, and so is excess data. Aloha believes that there is no better time than now to turn these assets into cash. Sharing of data converts to loyalty tokens, which can then be converted into money by blockchain technology.

Governance in the Aloha system is an inclusive network that allows users to partake, depending on the types of NFTs you own which represent voting power. Users will be able to propose ideas via the governance system, allowing them a stake in determining the future of Aloha. Varying types of NFTs are worth different votes: 1 rare NFT is worth 1 vote, 1 ultra-rare is worth 5, and an exclusive NFT is worth 50.

Finally, Aloha has a number of partners that allows it to expand its reputation and onboard more users. For a start, Aloha utilises social media partners as mentioned above. The company also previously had a marketing campaign in collaboration with data analysis platform Dextools in July and an upcoming reward initiative with coin platform Niox. Finally, users can spend their crypto on travala.com, a cryptocurrency-friendly travel booking website that are affiliate partners with Aloha.

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A total of 46,694,440 Aloha tokens have been issued as of 2021, with each token valued at $0.05.

Aloha’s treasury is meant to benefit NFT holders based on the breakdown of each transaction fee, which is 3%, and will be allocated as such: 70% on treasury, 20% on marketing, operations and developments, and 10% to NFT holders.

The Aloha network is secured for both hotspot sharers and WiFi users through strict penetration tests and frequent code revision to protect against hacks and bugs, ensuring security for all parties is kept safe and up-to-date.

ALOHA is an ERC-20 cryptocurrency token built on Ethereum, and a smart contract is a program that runs on the Ethereum blockchain and is supported by the platform. Smart contracts allow the conclusion of trust relationships, transactions, and agreements between anonymous parties.

As of August 2021, the current value of Aloha tokens stands around $0.016. The token is designed to keep the supply low and demand high, done by the company buying back and burning its tokens, resulting in a deflationary effect. A $1 price would imply more than a 60X from current price, which is not extraordinary in the volatile crypto markets, especially if the team exceeds its objective extremely successfully.

Beyond sharing of data, there’s more ways to earn Aloha tokens, through the Aloha DeFi platform. Staking of NFTs is the current stage of Aloha’s roadmap, having successfully rolled out the WiFi platforms and built its community. On the works now are completion of its public sale, listing on Uniswap and implementing a governance system. In the upcoming quarter, Aloha DeFi will continue to focus on NFTs and expand staking opportunities. Beyond that, Aloha is looking to list on a tier 1 centralized exchanges (CEXs), and starting micro decentralized exchange (DEX) developments for the app. Further in the future, the Aloha WiFi app will be bridged with the DeFi app for greater ease of usage and integration of its functions.

ALOHA is listed on several cryptocurrency exchanges, and the tokens can be obtained using fiat currencies or other cryptocurrencies, like Ethereum, where the ALOHA token is present. Among them: Uniswap (V2), Hotbit and ProBit Global.