“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.”
July 01, 2022
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
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PrivaCrip to Power a Blockchain Network That Could Follow Cardano & XRP
When the first decentralised blockchain was popularised in 2008 by Satoshi Nakamoto, the door was open for people across the globe to transact more securely and seamlessly. Many blockchain networks have been built and powered by native crypto tokens, including PrivaCrip (PRCR).
Native tokens exist for several reasons. Aside from acting as digital currencies, they perform various functions. Helping blockchains improve data traceability, security, transparency, and trustworthiness shared throughout the network. They also assist in reducing costs through their ever-evolving efficient methods.
Cardano (ADA) and Ripple (XRP) are among the best blockchain-based cryptos that this article will discuss. We will also look at how PrivaCrip (PRCR) will power a blockchain network set to launch into the crypto space.
Top Tier Crypto Makes its Mark – Cardano (ADA)
Cardano (ADA) has been around in the crypto space since 2017. The Proof-of-Stake (PoS), Ouroborous Cardano (ADA), was established using a research-based methodology.
Research is the backbone of Cardano (ADA) and is integral to its success in the cryptocurrency market. Cardano (ADA) uses an evidence-driven mechanism and peer-reviewed research to run its ecosystem to drive its evolution.
Among many things, Cardano (ADA) helps establish DeFi products and provides a suite of financial solutions. Crypto enthusiasts can stake Cardano (ADA) for a chance to earn rewards for their holdings.
With 2022 providing challenges in cryptocurrencies across the globe, Cardano (ADA) is one of the few cryptos to see a surge in on-chain trading volume this year. CoinMarketCap lists Cardano (ADA) as the 7th largest crypto by market capitalization at the time of writing.
Making Waves – Ripple (XRP)
Launched in 2012, Ripple (XRP) is a leading provider of crypto solutions for businesses. Ripple (XRP) provides developers with a solid open-source foundation for executing demanding projects. It is fast, energy-efficient, cost-effective, and reliable.
The solutions provided by Ripple (XRP) enable developers to solve inefficiencies, including asset tokenization and remittance. Therefore, individuals and businesses may apply Ripple (XRP) for DeFi, payments, tokenization, and more.
Crypto enthusiasts with a long-term focus may find Ripple (XRP) a valuable investing tool. Token holders can use Ripple (XRP) for staking its mainnet platform for a chance to grow their earnings and maximise profit.
The New Face Of Privacy – PrivaCrip (PRCR)
The soon-to-launch PrivaCrip (PRCR) is a cryptocurrency built for Web3 data privacy. It will allow users to develop and use permissionless and privacy-preserving applications. This unique feature of PrivaCrip (PRCR) secures apps, protects users, and fosters the creation of many new Web3 uses.
PrivaCrip (PRCR) will drive a blockchain that creates a more empowering and inclusive internet. It will enable developers to build secure dApps using private contracts based on original privacy research (OPR) to revolutionise Web3.
PrivaCrip (PRCR) will begin pre-sale soon and has an initial token price of 0.10 USD. According to the whitepaper, there will be a total supply of 190 million tokens, of which 40% of the total supply will go to the pre-sale.
Crypto enthusiasts who purchase PrivaCrip (PRCR) during the pre-sale will receive the most significant long-term rewards and bonuses. Those who buy with Bitcoin (BTC) will receive a 10% bonus. Also, those using Ethereum (ETH) to purchase will receive 15% of the total PrivaCrip (PRCR) they purchase as a bonus.
10% of PrivaCrip’s (PRCR) total supply is up for distribution as staking rewards, meaning that token holders who stake will receive rewards for their contribution to the crypto’s advancement.
Blockchain networks are continuously evolving, and so are the crypto tokens that power them. Cardano (ADA) and Ripple (XRP) have contributed tremendously to the success of their blockchain networks, gathering mass appeal.
PrivaCrip (PRCR), for its part, will drive a security-enabled blockchain and scalability in private DeFi, empower data tokenization, and bring together a fast-growing community. Acting on its promise, it has the potential to become the next big mover in cryptocurrency.
For more on PrivaCrip (PRCR), check below:
Cardano (ADA) Withdrawal Fees Waved by Bitrue Exchange
Singapore-based cryptocurrency exchange made Cardano one of its base trading pairs earlier this year
Singapore-based cryptocurrency exchange Bitrue announced that it had temporarily waived withdrawal fees for the Cardano (ADA) cryptocurrency.
The trading platform says that the move is meant to celebrate the support it received from the community behind the cryptocurrency.
Users will be able to withdraw ADA without paying any fees until mid-September.
Bitrue has stressed that it wants users to have “as much choice as possible” when it comes to custody options. Those who want to hold their ADA tokens will not be able to do so without paying an additional commission.
At the same time, Bitrue has touted its “Power Piggy” yield-farm investment program for those who want to earn passive income with ADA.
As reported by U.Today, Bitrue introduced the token as its base currency back in February.
In June 2021, it also became the first cryptocurrency trading platform to add support for Cardano-based native tokens.
Last month, Bitrue also announced a staking initiative with the ADA cryptocurrency. It decided to contribute a million tokens to some of the top Cardano staking pools in an effort to boost the level of decentralization.
Earlier this year, SundaeSwap (SUNDAE), the native token of the SundaeSwap exchange, also became available on Bitrue.
WingRiders Losses 59% Of Its Total Value Locked, Plunges Cardano TVL Below $100M
Popular Cardano-based decentralized exchange WingRiders has lost its position as the most valuable DEX on Cardano.
WingRiders slumped from the first position to third after losing more than 59% of the total value locked (TVL) on the platform in the past 30 days.
At the time of writing this line, WingRiders is now the third-largest DEX by total value locked, with a TVL of $19.66 million. It is noteworthy that WingRiders maintained the top spot for more than two months, claiming 42% of TVL On Cardano. However, the DEX has fallen from glory ever since.
Minswap Is Now Cardano’s Most Valuable DEX
The development also affected the total value locked on Cardano. The total value locked on Cardano has fallen below $100 million in the last 30 days after the WingRiders TVL slumped.
Interestingly, Minswap has taken the lead to become the most valuable decentralized exchange on Cardano after the massive decline of WingRiders’ TVL.
At press time, Minswap is leading, with a $49.09 million total value locked on the platform. The DEX hit the milestone after recording a massive growth of 30.9% in its TVL in the past 30 days. Minswap accounts for 51.82% of the total value locked on Cardano.
SundaeSwap, the first decentralized exchange on Cardano, is now the second most valuable DEX in the ecosystem. SundaeSwap is second in the ranking, with $19.72 million in TVL.
Like WingRiders, SundaeSwap has also lost a significant amount of its TVL over the past 30 days. In the past month, SundaeSwap has lost nearly 10% of the funds locked on the platform.
Commenting on the development, Cardano Daily, a platform that shares new developments about Cardano, said:
“After the major decline of @wingriderscom, the TVL scenario of the Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem.”
CARDANO TVL STATUS
After the major decline of @wingriderscom, the TVL scenario of the @Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem#tvl #cardano $ADA pic.twitter.com/xjZ6cHo8jX
— Cardano Daily (@cardano_daily) August 9, 2022
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