Kala Token claims to be the most accessible cryptocurrency ever made. Find out what that means today in our review.
What Is Kala Token?
Kala Token, or Kala, is a cryptocurrency that claims to be “powered by you” instead of being backed “only by fancy computer algorithms” like other cryptocurrencies.
What does that mean? Basically, you earn Kala Tokens by completing tasks inside the company’s “CORE” platform. The company claims that its token doesn’t involve the use of a roomful of servers. There are no expensive mining pools. Instead, all you need to get started is an internet connection.
Kala Token was created by a company called Symatri.
It doesn’t take much research on the Kala Token website before you start seeing red flag words like “financial freedom” and “financial security”. Typically, these words suggest you’re dealing with a multilevel marketing scheme. Symatri is a multilevel marketing company based in Utah. The company was founded in 2016, and claims to have 220,000+ members worldwide today.
A number of MLMs have embraced cryptocurrencies for better or worse. Let’s take a closer look at how Kala Token works to determine if it can really help you achieve “financial freedom”.
How Does Kala Token Work?
Kala Token claims to work in three easy steps:
Step 1) Earn Points: Kala members earn points in exchange for completing simple activities through the company’s “CORE” platform. Those simple activities, as you’ll later find out, include filling out surveys and downloading apps or games.
Step 2) Transfer Points to Kala: Points earned in CORE can easily be converted into Kala Tokens.
Step 3) Redeem Kala: You can redeem your Kala Tokens in “REACH”, which is a marketplace where you can purchase “anything from highly discounted goods to gift cards.”
The REACH marketplace is scheduled to launch in spring 2018.
What Problems Does Kala Token Seek To Solve?
Kala Token’s whitepaper identifies several key problems in the market today. The two core problems include:
Kala’s whitepaper explains that “far too many people don’t have a clear roadmap to financial freedom and security”. They believe today’s system of “financial survival mode” stunts growth and happiness, which restricts people from progressing and fully realizing their potential.
Declining Market Effectiveness:
As time and technology progresses, traditional advertising is becoming more and more obsolete. Businesses devote time and resources to finding the perfect consumer, and previous methods of advertising no longer work. Companies are searching for alternatives.
Kala Token plans to solve these problems at the same time. It plans to help businesses reach target markets while also helping people build financial freedom and security.
Kala Token Products
Kala Token’s platform has three core products and platforms, including each of the following:
CORE (Compensation On Real Efforts):
CORE claims to harness the power of multilevel marketing “for a mutually beneficial relationship that bridges the gap between consumer and business.” With CORE, users earn points by completing surveys or downloading apps.
REACH (Redeem And Achieve):
REACH is a marketplace where you can buy products and services. This marketplace isn’t scheduled to launch until mid-2018, and it’s unclear what types of products will be featured on the marketplace. The whitepaper lists a random selection of products, including gift cards from Amazon, Walmart, Apple, Target, and Nike, as well as household wares like patio furniture and office supplies. The whitepaper has a “Corporate Partners” section, although no specific brands are listed.
Kala Tokens are ERC20 tokens on the Ethereum blockchain. The only apparent use for Kala Tokens is to buy stuff from the REACH marketplace. They can also be transferred. However, the REACH marketplace has not yet launched, and we can’t find any exchanges that plan to list Kala Tokens in the future.
How Does Kala Token Really Work?
Kala Token’s whitepaper claims you can get rich quick and achieve “financial freedom” through the platform. In reality, Kala’s ecosystem doesn’t seem different from other platforms on the internet today:
Step 1) You fill out surveys and download apps in exchange for “points”
Step 2) You exchange your points for Kala Tokens, a cryptocurrency created by the company
Step 3) You spend Kala Tokens on a marketplace called REACH (which isn’t scheduled to launch until mid-2018)
Ultimately, you can find plenty of websites where you can earn money in exchange for completing surveys or downloading games. Kala Token doesn’t seem overly unique.
The creators of Kala also make very unusual claims. They claim that their cryptocurrency has “an inherent value” that you won’t find in other cryptocurrencies, because from day one, Kala can be used to purchase products and services from the REACH marketplace. Again, the REACH marketplace has not yet launched, and we have no idea which products or services will be featured in that marketplace – so it’s unclear how Kala Tokens have any value whatsoever.
The Kala Token Sale
The Kala initial token offering, or ITO, will begin with a pre-sale on November 27, 2017, with a public crowdsale scheduled for December 1 to January 15, 2018.
The company is releasing 21 billion Kala Tokens during the token sale. This is 36% of the total supply. The remaining 64% of the total supply will be used for CORE activity rewards (33%), future growth and funding (10%), and owners and founders (21%).
Kala Token is made by a multilevel marketing company called Symatri. That company launched in October 2016. By January 2017, the company claims it had already attracted 220,000 members worldwide.
Key members of the Symatri team include Darren Olayan (CEO), who has previously served as a consultant for direct sales and marketing companies. Other key members of the team include Reid Tanaka (President) and Kinsey Lindgren (Chief Marketing Officer).
Kala Token Conclusion
The Kala Token website has a number of red flags. There are stock images of cheerful families playing on a beach. The company frequently mentions the fact that you can achieve “financial freedom” (i.e. get rich quick) through their system. It also seems like you can make money by referring other people to the platform. Plus, the website and whitepaper are filled with vague, flowery language. All of these things suggest you’re dealing with a multilevel marketing company.
Like most multilevel marketing companies, most participants in Kala Token’s ecosystem are unlikely going to make money. The vast majority will lose money – despite the company’s claims of helping you earn “financial freedom”.
That being said, Symatri has a much more detailed plan than other MLM-led cryptocurrency schemes we’ve reviewed online. The company has a 44 page whitepaper that explains its goals, its timeline, and its future strategies.
Ultimately, as with any multilevel marketing company, you should be wary with Kala Token and Symatri. You can decide for yourself if it’s worth an investment by visiting online today at KalaToken.io. The token sale is taking place until January 15, 2018.