The team at GoKey Network is pleased to announce the launch of its Initial Stake Pool Offering and delegator rewards. ADA holders can now easily support development of GoKey's real estate tokenization, DAO and peer-to-peer financing platform, while earning valuable rewards and helping to secure and decentralize the Cardano blockchain network.
DENVER, July 1, 2022 /PRNewswire-PRWeb/ -- GoKey is pleased to announce the details of the network's recently launched ISPO, or Initial Stake Pool Offering. Although the ISPO has been live for only a few weeks, it has already welcomed delegation of over 1 million ADA from over 100 delegators.
To make staking with GoKey as easy as possible, the website features a convenient new dashboard interface to allow ADA holders to easily connect Cardano wallets, delegate to the stake pool and estimate staking rewards — all from the GoKey website.
Cardano's unique Proof of Stake consensus mechanism offers an incredibly unique fundraising option for projects building on the advanced blockchain protocol. The Initial Stake Pool Offering, or ISPO, was first pioneered in 2021, and has since been utilized by a growing number of up-and-coming projects.
The ISPO model is made possible by stake pool delegators electing to forgo all or part of the ADA staking rewards they would normally receive, and instead, delegators receive a predetermined quantity of project tokens per ADA staked each epoch. This allows the project to collect the ADA that would have otherwise been distributed to the delegators, providing critical funding for project development and growth. It also allows delegators to accumulate tokens associated with early-stage projects they like and want to support, without having to sell, lock-up, or even relinquish custody of their ADA. This is a low-risk opportunity for delegators, although there could be potential opportunity costs if the price performance of project token lags behind the price performance of ADA.
It has always been important to GoKey to distribute its governance and utility tokens to its users and community in the fairest, most publicly accessible ways possible. Having considered several alternatives, including angel and venture capital, public and private sales, and IDOs (Initial DEX Offerings), GoKey has determined that the ISPO model, along with sales through decentralized exchanges, best aligns with the projects goals, values, and efforts to promote decentralization.
In general, the proceeds raised in this ISPO will be used to fund typical project operating expenses, including technical development, team growth, marketing, and professional services such as legal work and accounting. As the stake pool and ISPO proceeds grow, GoKey will offer delegators a transparent view of how the funds are invested to fuel development of the project.
ISPO Staking Rewards & Bonus Details:
1. The GoKey ISPO began at Epoch 342.
2. ISPO is a 99% margin pool, meaning delegators will forgo all typical ADA rewards and receive GOKEY governance and utility token rewards instead.
3. Base token rewards are 0.15 GOKEY tokens per ADA staked per epoch. At today's exchange rates, this works out to between approximately 7% and 10% APR, not including Pre-ISPO or ISPO loyalty bonus multipliers.
4. Pre-ISPO delegates earned a 0.1x multiplier per epoch, for a total of 2x maximum multiplier if delegated to all 10 Pre-ISPO epochs.
5. Base ISPO delegates earn a 0.01x multiplier per each epoch staked to GOKEY Stake Pool.
6. 1 Billion GOKEY tokens are allocated for this ISPO, approximately 22% of total maximum supply.
7. ISPO will end upon all allocated ISPO token rewards being rewarded.
8. ISPO rewards will be released according to a vesting schedule at the conclusion of the ISPO to reduce the possibility of large quantities of tokens coming onto the open market at the same time, as this could potentially have an affect on market prices and the value of users' holdings.
9. GOKEY token rewards distribution will be accomplished via a 3rd party distribution platform or via faucet on our website.
10. Delegates may stake to GOKEY pool directly from the website at https://staking.gokey.network, or from most leading Cardano wallets.
GoKey believes that property ownership is important for individuals, families and communities, and should be accessible to anyone who wants it. GoKey uses NFTs to tokenize real property rights, is forming a DAO for our community to collaboratively own and manage real estate, and is developing a novel approach for peer-to-peer property financing and transactions. GoKey is also designing a unique, deflationary governance, payment and utility token to track, exchange and store real estate value, that will serve the growing GoKey ecosystem.
Learn more at https://gokey.network
Craig Immel, GoKey DAO LLC, 1 918-978-8039, [email protected]
SOURCE GoKey DAO LLC