The decentralized app is disrupting the mobile data world by allowing consumers to share their Wi-Fi hotspots and earn cryptocurrency.
Aloha says 67% of us spend money every month because we don’t fully use our monthly data volume. Worse yet, 76% of us were frustrated that we couldn’t get online without paying for a Wi-Fi hotspot.
The company has had an efficient and scalable product over the past two years, but is now building a decentralized ecosystem with non-innate tokens and digital assets at its core.
Users who share their unexploited data will be able to earn Aloha loyalty codes that can then be exchanged for bitcoin, ether and cash – or spend them at some of the best brands and online stores in the world.
How it works
Hotspot hosts can join and download Aloha for free – and have complete control over when and how much their data is transferred. This helps open up access to Aloha-related communities where they can take advantage of price cut agreements. Guests enjoy free Wi-Fi hotspots – no need to enter passwords or social media credentials. The application weight aims to keep communications simple and fast.
Small businesses can also offer Wi-Fi to their customers through Aloha and earn codes when customers use free, high-quality internet.
The project plans to add a DeFi touch to the offering by offering a platform where users can place bets on their Aloha tokens in exchange for NFTs – unlocking management rights and exclusive benefits. VIP tokens are rare, extremely rare, and exclusive to be withdrawn – the less frequent the NFT, the more votes the user gets in the control group.
3% commission is charged on every Aloha transaction. 70% of this money will be allocated to the Treasury Department, and the public will decide how to use the funds by voting on proposals on the Governance Platform. An additional 20% will be earmarked for marketing, development, and operations, and the remaining 10% will be allocated to NFT holders, helping to create a healthy ecosystem.
More information from ALOHA here
Initially, Aloha’s Wi-Fi and DeFi services will be separate, and in the coming months, both platforms will merge for a ‘seamless experience’.
Martin Reagan, CEO of the project, told Cointelegraph, “The ultimate NFT platform motivates its owners through commission allocation and management. Aloha Global has been around for two years with a workable product. Our goal is to leverage NFT technology, build a bridge with our market and include it in our decentralized ecosystem. For society to shape the future of Aloha DeFi. ”
For starters, Aloha will focus on the UK market with an estimated 50 million smartphone users. Over time, the company’s goal is to download the app on 1% of devices around the world, especially in Europe and North America.
Market research shows that 92% of consumers will be interested in using Aloha’s open Wi-Fi hotspot, and 97% of target market participants will download and use the app.
A general sale of ALOHA tokens is scheduled for February 21, which will pave the way for the token to be listed on Uniswap by February 28.
In the coming months, the platform plans to explore high-level central exchanges, identify new features in the Aloha ecosystem, expand efforts, and secure institutional partnerships.
The Aloha team wrote on Medium: “We feel we’re on the right track to offer something with so much potential, all for the benefit of the stakeholders of the platform. Bandwidth sharing and network coverage are two unused situations that have a positive impact on society.”