Kanaloa Network is a decentralized finance token and blockchain solutions provider focused on lowering the technical barrier and broadening the gateway into the world of DeFi. Kanaloa Network is the “NEBULA OF DEFI”, providing casual users an array of user-friendly products and the ability to safely participate in the exciting world of blockchain and decentralized finance with ease.
Kanaloa sets a special focus on releasing the enormous untapped potential of use-case-based non-fungible tokens. Kanaloa aims to create an ecosystem of interest-bearing, privilege-yielding, and playable NFT’s across the platform for an easy and sustainable way to access the network and earn passive income. Kanaloa’s NFT’s act as unique keys to unlock exclusive doorways throughout the network.
The problems DeFi faces today and how the Kanaloa Network will fix them
The obstacle for mass adoption and broad usage of DeFi products lies in the high technical barrier of entry the space presents. New market participants are required to invest a substantial amount of time and resources into researching the space, how it functions, and the potential danger it can present to their product or investment. For institutional investors, like most small to medium-sized companies (representing 90% of worldwide companies and employing 50% of the worldwide workforce today), outsourcing this to a qualified expert is not feasible. Hiring a specialist in-house presents an even bigger financial commitment to such a venture. Assuming these limitations, the DeFi sector closes itself off to a major part of potential market participants worldwide.
Kanaloa’s simple-to-use Diamond-Token Generator offers a never-before-seen moldability to the projects generated, giving its participants a range of new features to choose from and deploy with a few clicks of a button. This process eliminates the need for an intricate understanding of blockchain programming or expensive outsourcing to 3rd party developers.
With market conditions and regulations changing on a daily basis, retail and institutional investors in the DeFi space are faced with an increasing need for adaptability of their investment vehicles, and products alike. Classical ERC-20 contracts do not lend themselves to flexibility on a trustless basis. Facing the market participants with a dilemma of having a stiff investment vehicle in a rapidly changing environment, or the need for a trust-based open contract system, leaving it vulnerable to the same human errors and manipulation classical financial tools present. As a result, a substantial amount of
institutional and retail investors interested and bound to regulatory compliance and unadaptable products remain closed off to the market.
The Kanaloa Network with the usage of the EIP-2535 standard allows projects to transform alongside the evolving DeFi landscape on the fly. While Kanaloa’s Contract Validation Toolkit will enable users to research projects of interest and validate contracts existing on the market today. This toolkit will allow everyday users to verify the integrity of existing contracts on the market with an easy-to-understand UI and functionality. The CVT will employ a rating system based on a system of metrics, and distribute a score for each project accordingly. This will give users the ability to “see behind the curtain” for any potentially malicious code or structure, and deliver better investment decision-making opportunities.
The enormous untapped potential of NFT’s – the power of ERC-1155 and ERC-721 Tokens harvested by the Network
Supported by a strong foundation of use-cases and a self-sustaining ecosystem, the Kanaloa network offers master keys to the technical doorways presented in the realm of DeFi today. With the goal to unlock the full potential of the EIP-2535 standard, and build a self-sustaining network on a trustless basis via implemented “proof of commitment” mechanics via ERC-1155 “NFT keys”. The Kanaloa network will allow its participants a fully decoupled, decentralized, and adaptable portal to the DeFi landscape of tomorrow.
As the core piece of the Kanaloa Network NFT ecosystem will stand the “World-ender” NFTs consisting of a set of six individual monster cards used to gain key access to the vital parts of the Network itself. Each of these NFTs has its own function and designated use case. These six cards will be available in three different tiers to maximize the spread throughout the active Kanaloa community and network participants. The core NFTs are distributed in a monthly challenge issued by the team throughout the course of the first six months of the project being active. All core NFTs are stackable.
Another core piece for the network lore are the “Kanaloa legends” series is an ongoing, page-by-page produced, graphic novel series exploring the haunted world of the Kanaloa Nebula. This sci-fi horror series is drawn by the established in-house artist team. The Kanaloa legends are another repertoire of NFTs the Kanaloa Network will explore to their fullest potential. With the page-by-page release schedule of the ERC-1155 based pages, this collectible series is the first of its kind and will provide the consumer and creator with a never seen before financial liberty to interact with the collection in different roles, like creator, trader, collector, or simply reader. The Kanaloa Network plans to create a new medium in which creative interaction can take place and IPs can be used to its fullest potential.
The Kanaloa Network will further release a set of collectible ERC-721 & highly limited ERC-1155 art sets granting access to special auctions to be held on the NFT platform. These special collectibles will be part of an auction process to be announced. The Kanaloa Network aims to work with a set of established artists for these pieces, creating a special blend of access key and fine art for appreciating collectors and investors alike.
How the network connects – the Kanaloa Network partners
Kanaloa has started to build a network of high-quality partners right out of the gate and is proud to count established projects like Reef Finance, Olive Cash, SWFT Blockchain, and Sota Finance within its partners. The Kanaloa Network will build on this and aims to extend its corporation within the crypto space on all fronts. And while calling the BSC home, for now, the Team is enthusiastic to start building on the Reef Chain and extending the reach of the Network with further partnership and chain extensions in their sights.
The Team behind the network – who are they
Formed by a young team of blockchain and business developers coming from all over the crypto space the Kanaloa Network has a unique setup for an optimized production schedule and community management.
All information about the doxxed Team member Florian Pfeiffer can be found on his official Linkedin profile:
Further, can all Team members be found in the official Kanaloa Network Telegram chat willing to answer any and all questions about the project.
The next steps – how the network will grow
With almost all goals reached for this quarter, the Kanaloa team now focuses fully on the development of the network components to keep up the fulfillment rate presented so far. This includes a multitude of updates on a weekly schedule as well as running the ongoing challenges as an exclusive way to acquire the network access NFTs over the next months. The implementation of the ERC-2535 standard provides Kanaloas products and network with unprecedented modularity. This flexibility grants the Kanaloa development team the ability to add or remove an unlimited number of features to products and the network. This moldability will ensure Kanaloa’s innovations are on the cusp of blockchain and decentralized finance evolution and secure a competitive market position amongst an ever-changing landscape. With the ERC-1155 and ERC-721 tokens (NFT) as an intricate part of the network governance and reward privileges, Kanaloa is creating a secondary market for highly scarce, interest-yielding, and privilege granting NFTs of the network. These factors will play a vital role in distinguishing Kanaloa Network from its competitors. To become the premier platform for new DeFi projects and products worldwide, Kanaloa will partner with a number of existing projects within the DeFi space. Partnerships will be formed with the goal to extend the capability and security of the network and its products, and aim to provide a multitude of verified partner products to be implemented into the expanding network.
Karnav Shah, Editor in Chief at Cryptonaire Weekly thinks highly of the Kanaloa project, he explained: “Kanaloa Network has become the “Nebula of DEFI”, providing casual users the ability to safely participate in the exciting world of Blockchain and decentralized finance with ease. Project’s like Kanaloa Network are exciting and we make sure to help them reach the larger crypto community by sharing more about these shapeshifting solutions with our readers and across our community channels.”
The home of the Nebula – where Kanaloa can be found
All information about the project and the network components can be found here
All official NFTs can be found in the Sota NFT store here
All updates and competition can be found in the official Telegram announcement channel
The community and Team can be found in the official Telegram chat
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