The IAGON team is happy to announce plans to create an ISPO. It will be launched even before we implement the token bridge that will allow you to swap your ERC-20 IAG for CNT IAG tokens on Cardano.
If you’re interested in how we’re going to do that, you’ll be able to read about it in the near future.
At this point, some of you might be wondering what an ISPO is. An Initial Stake Pool Offering (that’s what the acronym stands for) is an ingenious fundraising mechanism specific to Cardano. It leverages the “green blockchain’s” reward incentive system, allowing users to support their favorite crypto projects while maintaining custody of their assets.
So how does this work? Unlike in the case of some other initial offerings, users willing to participate don’t have to trade their tokens for particular project tokens. Instead, all they have to do is delegate their assets to the staking pool for some time. They give up the regular ADA reward for staking and earn tokens in return. Plus, your stake remains in your wallet, as the delegation process is non-custodial. The staking rewards are, in turn, used to support the project’s development. Clever? Definitely.
ISPO-s are ordinarily created to fund projects that don’t have their tokens listed on any exchanges. But as our project is far from ordinary, we’ve decided to give it a go. We perceive it as a great opportunity for IAGON, as we realize that long-term commitment equals community engagement. Hopefully, getting closer with the contributors will allow us to provide them with project-related info regularly. A better understanding of the idea standing behind IAGON’s platform might in turn convert to attracting even more users. A stronger community means a stronger platform, and a stronger platform translates to customer satisfaction. Win-win, right?
There’s even something in it for Cardano. Emerging stake pools promote decentralization, and staking makes the blockchain secure.
A closer look
While we’re on the topic of providing information, it might be a good time to share some details. For starters, IAGON is going to allocate 70 million CNT IAG tokens in the pool. The distribution process will commence 6 months after the launch. We’re planning to drop 7 million tokens right away, and the remaining 90% should be distributed over the 12 following months.
On the blog, you may have read about IAGON’s partnership with Genius Yield. Now we’re collaborating to make the ISPO happen. Genius Yield is a groundbreaking, complex DeFi optimization platform. It provides its users with an AI-powered liquidity management tool so that they can invest in their favorite Cardano-based projects with no hassle and maximize their profits at the same time. What’s more, Genius Yield brings along another valuable partner - Maestro, an ISPO launchpad and stake pool infrastructure service provider. This team of scientists, engineers, and lifelong learners is pioneering the future of crypto crowdfunding and powering DeFi. At the same time, they are committed to promoting education. Now that’s what we call a partnership!
Finger on the pulse
Right, then! The IAGON team will keep you posted about the ISPO so please follow us on our social media. Get your wallets ready, and don’t miss out on the opportunity to support the platform, earning some IAG in the process.
Please follow us on social media and feel free to drop any questions you may have about the project directly in the telegram group. Our team is always open to discussions. More details to be announced.