Kanaloa Network starts its second month locked and loaded!
While the preparation for the product release is running in full force, Kanaloa Network starts to give out the network’s use-case NFTs on all fronts!
Liquidity provider challenge gets extended - more decentralized governance
After a successful first month of rewarding the liquidity providers on Pancakeswap with the "QUASI" monster NFT (which allows holders to farm the Kanaloa Network governance token "KANE" in 2022) the team behind Kanaloa decided to extend this competition another month. This extension will allow more network participants the chance to participate, and already committed participants the chance to stack up on more NFTs.
The updated Liquidity challenge can be found below:
Each tier will have a corresponding monster-themed NFT that gives exclusive access to the upcoming farming pools of the KANE token in 2022. As usual, with the Kanaloa NFT challenges issued, the Team will take a snapshot of the LP-Token holders and corresponding farming pools at a random day in September. Eligible wallets then receive the NFT airdropped in the following month.
After a successful first round, the first batch of NFTs are currently trading at a market value of between $1000-$100,000 USDT on the SOTA Finance NFT Marketplace. This puts the retail/market price of the NFTs around 1000% higher than the participants' original investment.
The detailed distribution of KANE (still subject to changes) can be found in the Kanaloa Litepaper.
The first Crossover NFT - the September challenge is all about REEF!
For this month's challenge, the Kanaloa Team released a special crossover NFT honoring their partnership with REEF finance.
To qualify for the Reef/Kana NFT airdrop, a member must hold both KANA and REEF in his self-hosted BSC wallet at the moment of the snapshot. The Kanaloa take the snapshot on a random day in September before airdropping the NFTs on October 1st.
Details about the different Tiers can be found here:
With the specific use case still to be announced for this NFT, the Kanaloa Team can’t wait to reveal its function to both communities soon!
The official Kanaloa Network NFTs can be found here
Happy collecting!
