GoKey is pleased to announce the newly launched ISPO, or Initial Stake Pool Offering, for the network. Although the ISPO has only been operational for a few weeks, it has already received over 1 million ADA from over 100 delegates.
To make staking with GoKey as simple as possible, the website features a new dashboard interface that enables ADA holders to connect Cardano wallets, delegate to the stake pool, and estimate staking rewards, all from the GoKey website.
Cardano’s Proof of Stake consensus mechanism provides an extremely novel fundraising option for blockchain-based projects. ISPO, or Initial Stake Pool Offering, was introduced in 2021 and has since been utilised by an increasing number of emerging projects.
The ISPO model is made possible by stake pool delegators forgoing all or a portion of the ADA staking rewards they would normally receive in exchange for a predetermined number of project tokens per ADA staked per epoch.
This allows the project to collect the ADA that would otherwise be distributed to the delegators, providing crucial funding for project growth and development.
It also enables delegators to acquire tokens associated with early-stage projects they like and wish to support, without having to sell, lock, or even surrender their ADA.
This is a low-risk opportunity for delegates, although there may be opportunity costs if the performance of project token lags behind ADA.
GoKey has always prioritised distributing its governance and utility tokens to its users and community in the most equitable and publicly accessible manner possible.
After evaluating several alternatives, such as angel and venture capital, public and private sales, and IDOs (Initial DEX Offerings), GoKey has determined that the ISPO model, along with sales through decentralised exchanges, aligns most closely with the project’s objectives, values, and efforts to promote decentralisation.
In general, the funds raised through this ISPO will be used to fund typical project operating costs, such as technical development, team expansion, marketing, and professional services such as legal and accounting work.
As the stake pool and ISPO proceeds increase, GoKey will provide delegators with a clear view of how the funds are invested to fuel the project’s development.
ISPO Wagering Rewards and Bonus Information:
- The GoKey ISPO commenced at Epoch 342
- ISPO is a 99 percent margin pool, meaning that delegators will receive GOKEY governance and utility tokens in lieu of typical ADA rewards.
- Base token rewards are 0.15 GOKEY tokens per ADA staked per epoch. At current exchange rates, this corresponds to between 7 and 10 percent APR, excluding any Pre-ISPO or ISPO loyalty bonus multipliers.
- Pre-ISPO delegates received a 0.1x multiplier for each epoch, for a maximum multiplier of 2x if delegated to all 10 Pre-ISPO epochs.
- Base ISPO delegates receive a 0.01x multiplier for every epoch wagered to the GOKEY Stake Pool.
- 1 billion GOKEY tokens have been allotted for this ISPO, representing approximately 22 percent of the maximum supply.
- ISPO will conclude when all token rewards have been distributed.
- ISPO rewards will be distributed according to a vesting schedule at the conclusion of the ISPO in order to reduce the possibility of large quantities of tokens flooding the market at once, which could have a negative impact on market prices and the value of users’ holdings.
- The distribution of GOKEY token rewards will occur via a third-party distribution platform or a faucet on our website.
- Delegates can stake to the GOKEY pool directly from https://staking.gokey.network or from the majority of the leading Cardano wallets.
GoKey believes that property ownership is essential for individuals, families, and communities, and that it should be available to anyone who desires it.
GoKey uses NFTs to tokenize real property rights, is forming a DAO for our community to own and manage real estate collectively, and is developing a novel approach for peer-to-peer property financing and transactions.
GoKey is also developing a one-of-a-kind deflationary governance, payment, and utility token to track, exchange, and store the value of real estate, which will serve the expanding GoKey ecosystem.
Mikey is a geek with a passion for all things tech. He enjoys keeping up-to-date with the latest advancements in a variety of industries and is particularly geared towards technology that changes the world.
