As a native token, $ISK is used for all types of services provided within the Iskra ecosystem. $ISK has three key utilities:
- Exclusive currency to buy Pioneer NFTs: After the 10,000th Pioneer NFT is sold, all remaining Pioneer NFTs are only available for purchase with $ISK.
- Governance token: Holders are entitled to propose and vote on initiatives that govern the Iskra platform.
- Key currency: ISK serves all purposes in the Iskra platform. It can be exchanged with other assets and can be used as a form of payment for transaction fees and charges for a variety of other services in the Iskra ecosystem.
By staking your $ISK tokens on the Iskra platform, you will receive all of the following benefits:
- Right to participate in governance proposals and voting: entitled to propose and vote on the Iskra platform’s operation policies
- $ISK: rewarded with more $ISK tokens in accordance with the Distribution Plan as described in the next section
- CPs: rewarded with CPs based on a defined formula
Note: Each Yearly distribution amount is the net amount excluding the lock-up period This table has nothing to do with the actual circulating supply
The total supply of $ISK tokens is 1 billion, subject to the following distribution plan:
- Team: 10%
- Private Investor: 10%
- Ecosystem Fund: 20%
- Pioneer NFT holders: 40%
- Governance staking: 20%
Note: The details of allocation and distribution plan are subject to change
A total of 20% of all platform fee revenue will be reserved in Burning Pool to buy back and burn $ISK tokens circulating in the market. $ISK burning will be done periodically by Iskra Team without prior notice to provide lower price volatility, and the results will be announced subsequently.