Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
New blockchain platform Ekta aims to bridge the physical world with the digital world. The company has various methods of doing this, one being the tokenization of real-world assets. It pioneers the concept of Property NFTs, pushing the groundbreaking opportunities of digital collectible instruments far beyond fun and entertainment.
Why is the Ekta (EKTA) solutions kit special?
Ekta’s ecosystem of instruments enables various tokenization, staking, trading, and value transfer opportunities for crypto users with diverse levels of expertise.
Its core elements include the following novel modules:
- A layer two, proof of stake ecosystem
- The first-ever Property NFT dashboard with fractionalization options;
- The EKTA token is already listed on PancakeSwap with its unmatched liquidity;
- EKTA can be staked with an initial minimum 400% in APY;
- A single solution stack can be utilized for many B2B use cases;
- The Ekta team is in the process of releasing a first-of-it-kind NFT representing a villa in Ubud, Bali;
- The launch of Ekta’s feature-rich decentralized exchange, ShellDEX, is currently being mapped out and planned.
Ekta’s Holistic Ecosystem: Basics
As a layer two, proof of stake ecosystem, Ekta allows for the tokenization of a wide variety of real-wold assets including real estate, natural capital, agriculture products and more.
Ekta is its very own blockchain with Ekta token (EKTA) being the native currency of the Ekta Chain. EKTA will be the backbone element of the project’s governance and ecosystem.
Ekta: The Project
Introduced in early 2021, Ekta is named for a Sanskrit word that means “unity, identity and integrity.” The name accurately represents the company’s core values and the main focus of its roadmap - building a more inclusive and transparent economic system. In their own words, the Ekta team states:
Ekta unites communities, systems, and values to fulfill our mission of giving everyone a chance to live a better life.
The architecture of Ekta includes three types of value, namely blockchain infrastructure, real-world assets, and tokenomical designs.
Its blockchain infrastructure boasts “smart contract mining” tools, NFT fractionalization instruments (see below), a decentralized lending/borrowing module and a decentralized exchange.
Unlike GPU-based and ASIC-based proof-of-work (PoW) mining, Ekta’s smart-contract-powered mining provides more accessible ways for participants to earn rewards and maintain the blockchain’s integrity. With this very low entry barrier, it allows everyone to take part in blockchain operations to earn a share in the profits.
The “Physical World” segment of Ekta’s ecosystem features real estate, land properties and natural capital. Additionally, Ekta also has a large and passionate community involved in a number of social benefit initiatives.
EKTA: The Token
EKTA is a core native utility and governance asset of the Ekta ecosystem. This token will be the bridge between the blockchain and the real world. It is used as the native currency across all of Ekta’s platforms.
The company has secured a fixed supply of 210,000,000 million EKTA tokens; this number cannot be increased by the project’s team. Fifteen percent of this amount was released via its IDO in late August. Currently available on PancakeSwap (CAKE), its price barely surpassed $1.80 at launch. Now, shortly after the release, it almost touched $10, as a result of a jaw-dropping rally.
Eighty-five percent of EKTA tokens will be used to incentivize staking and community programs. This share of the supply will be gradually unlocked by holders who stake their ETKA, in exchange for token rewards. Only 5% of EKTA’s supply is preserved for foundation, reserves and team allocation.
Staking pool and tokenization instruments
EKTA tokens have a wide array of uses such as earning staking rewards as well as being utilized in various NFT-centric initiatives on the Ekta platform.
Staking EKTA with more than 400% APY
Due to its revolutionary design, Ekta blockchain is built on the top of a “smart contract mining” mechanism. As it is more democratic than classic mining, every EKTA holder can participate in its staking.
The average estimated annualized percentage yield for EKTA staking is higher than that of all mainstream ecosystems. In early Q4, 2021, EKTA can be staked with 400% APY and higher.
One of the aspects that makes Ekta so attractive is that it's available to everyone. No previous expertise is required to join EKTA staking with staking pools being directly accessible through the company’s main website.
To join staking, EKTA holders should connect their wallet with Ekta Mainnet support (e.g. Metamask) and deposit EKTA coins to staking contracts. Once the user has staked and earned rewards, it can be withdrawn in one click to any third-party wallet.
In the coming months, EKTA will be integrated into all new instruments of the Ekta ecosystem, i.e., the NFT marketplace, decentralized exchange, lending dashboard, startup incubator and more.
Bringing NFTs to the real world
Right now, all NFTs minted through Ekta’s network can be acquired for EKTA tokens. EKTA token is accepted as a method of payment for both Ekta’s own assets and for goods (real estate, land and forest assets) provided by partners.
In late Q3, 2021, Ekta aims to realise a crucial milestone for its NFT minting and storage ecosystem by launching its unique NFT, dubbed Petals-Bali-01 (P-BALI-01). This NFT represents a tokenized form of property associated with a luxury villa located in Ubud, Bali, Indonesia, a pristine and world-renowned destination for digital nomads.
P-BALI-01 will be released as a fractionalized NFT, another digital assets concept pioneered by the Ekta team. Using EKTA tokens, digital collectibles fans can buy shares of fractionalized NFTs rather than one entire NFT. This is the reason why the Ekta team promotes its NFT marketplace as a democratic and inclusive alternative to existing heavyweights like Rarible or OpenSea.
DEX, Startup Incubator, Lending: A Review of Ekta Roadmap
Q4, 2021, will be of paramount importance for the Ekta ecosystem as the company aims to release a clutch of game-changing functions to expand the EKTA use cases kit, ultimately resulting in the development and release of its own crypto wallet.
Introducing ShellDEX
In early Oct, 2021, Ekta will release ShellDEX, a platform for decentralized (peer-to-peer and noncustodial) storage and exchange of tokens of various sorts. Not only does ShellDEX store users’ assets in a safe, secure, and distributed manner, but it also allows for exceptionally low fees when users perform swaps or liquidity operations.
ShellDEX will bring new customers and enthusiasts to Ekta as well as fresh liquidity to its yield mechanisms.
Lending/borrowing module
Another part of the Ekta ecosystem that’s in the making, is the launch of its own lending dashboard. This dashboard will allow customers to gain on their idle cryptocurrency or to obtain a loan pledging crypto assets as collateral.
The company’s future plans also include a decentralized crowdfunding platform for entrepreneurs and early-stage projects to be launched in Q2, 2022.
Ekta incubator for start-ups
Ekta’s start-up incubator is designed to nurture the cutting-edge startups of a global Web3 ecosystem. Unix Gaming, one of the leading Axie Infiity guilds, is the first official startup incubated by Ekta.
All residents of Ekta’s Startup Incubator will be given access to capital and resources provided by the partners and supporters of Ekta.
Bottom line
Ekta is a complete and holistic ecosystem for the tokenization of real-world assets with its own mainnet, staking, token exchange, lending/borrowing and so on.
EKTA’s native token is a pivotal element in its tokenomic and governance model.
With Ekta, fractionalized NFTs are available for everyone, from crypto enthusiasts to everyday people, allowing all to participate and purchase a share in tokenized real-world assets.
Tomiwabold Olajide
Arman Shirinyan
Denys Serhiichuk
