I've been making a lot of "noise" about Akash Network ($AKT) in the past 2 months and that's because it's one of the exciting projects in this run. It's also amazing how the price of the AK token is unaffected by the current market downtrend that's affecting the majority of the tokens.
It's a recent discovery of mine and I never pull-back ever since I started investing in it. I started buying this token when it was trading at $0.73 and now it already reached $5.95 (that's x8 in this current price). I'm still buying this token even at this current high price and I have good reasons why I'm bullish about it.
One of the major reasons why is the incredible use-case ~ Decentralized Cloud!
Fun fact:
Akash is the Sanskrit word for Sky.
If you ever wonder why it's called that way is because it wanted to represent what it's all about... the sky where clouds gather and interact.
That's exactly what Akash Network is all about, a place where a variety of cloud providers can gather and interact. That includes data centers of varying sizes and even small providers in the form of a regular that are managed by individuals like us.
That's the amazing thing that makes this blockchain project unique and exciting.
50% APY Staking rewards
Even though the inflation rate is so high, the demand for $AKT has increased in the past 2 months.
The project managed to nail the working product at the right time. Mainnet 2 is launching this March 8 and they managed to complete all the tests during the current bull run.
That made a massive buzz within the blockchain community and has managed to capture the attention of crypto influencers.
Free marketing (word-of-mouth) made this token in-demand! Even the high-inflation can't even keep up.
And yes, I'm earning plenty and I'm not even selling it at this point.
20% Take rate
Aside from the current staking rewards, the AKT holders (stakers) will soon be able to receive dividends from the Cloud Marketplace's earnings.
The proposed take rate is 20% which will be distributed to the holders commensurate to the stakes that they lock-in.
I just have to highlight that the dividends won't be distributed until the marketplace matures. The distribution is projected to happen by the end of 2021. The amount is still unknown since it will be based on how the marketplace is being utilized.
My hope is that the whole blockchain community will see Akash Network as their primary choice for their computing requirements. It makes sense that blockchain projects will run their node on a decentralized cloud service and not rely on centralized services like AWS.
It will make blockchain truly unstoppable.
Cheers!
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