ISK
$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: $ISK serves all purposes in the Iskra platform. It can be exchanged with other assets and can be used as a form of payment and charges for a variety of other services in the Iskra ecosystem.
Iskra has a vision to become a decentralized platform operated by a Decentralized Organization (Iskra DAO). The only way to participate in the Iskra DAO is to obtain governance rights ($sISK) through staking $ISK to the Governance Staking.
When you join the Iskra DAO, you will receive all of the following benefits :
- The Right to participate in governance proposals and voting: entitled to propose and vote on the Iskra platform’s operation policies
- $ISK : rewarded with 20% of all $ISK in accordance with the Distribution Plan as described in the next section
- Contribution Points: rewarded according to the amount of $sISK held based on a defined formula
$sISK plays key role in the Iskra Governance. Only $sISK holders can participate in the Iskra DAO and receive governance power, $ISK rewards, CP, and other rewards. Each $sISK represents 1 voting power and 1 contribution point, and also grants the holder the right to receive corresponding $ISK rewards. $sISK can be obtained by staking $ISK in the Governance staking. However, as $sISK is a yield-bearing token, its value will constantly increase as long as yield is generated. This means that the amount of $ISK required to obtain 1 $sISK will continue to increase over time.
The mechanism for this is as follows:
At the beginning, $ISK and $sISK form a pool in a 1:1 ratio in the Governance Staking Contract. At this point, you can obtain 1 $sISK for every 1 $ISK.
Now, the staking rewards begin. 20% of the total $ISK are distributed as compound interest through the Governance staking contract every second for 20 years. As the $ISK rewards are distributed, the number of $ISK in the $ISK-$sISK pool will gradually increase, and the value of $sISK will increase as well.
For example, if the ratio of $ISK to $sISK becomes 1:0.8, the 1 $sISK that you initially obtained with 1 $ISK is now worth $1.25 ISK.
The Governance staking rewards will continue for 20 years, so the value of $sISK will also increase steadily over that time. As time goes on, it will take more $ISK to obtain 1 $sISK. Therefore, it is best to acquire $sISK in a rapid manner and to hold it for as long as possible if you want to maintain Governance Power in the Iskra DAO.
Y1(2022.07*) | Y2(2023.07) | Y3(2024.07) | Y4(2025.07) | Y5(2026.07) | Y6(2027.07) | Y7(2028.07) | Y8(2029.07) | Y9(2030.07) | Y10(2031.07) | Y11(2032.07) | Y12(2033.07) | Y13(2034.07) | Y14(2035.07) | Y15(2036.07) | Y16(2037.07) | Y17(2038.07) | Y18(2039.07) | Y19(2040.07) | Y20(2041.07) | Y21(2042.07) | Total Supply | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Team | 29,864,609 | 28,949,684 | 28,949,684 | 8,902,690 | 2,000,000 | 1,333,333 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 100,000,000 |
Private Investor | 29,881,944 | 33,116,667 | 24,727,778 | 8,273,611 | 4,000,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 100,000,000 |
Ecosystem Fund | 40,000,000 | 30,000,000 | 20,000,000 | 20,000,000 | 20,000,000 | 20,000,000 | 20,000,000 | 20,000,000 | 10,000,000 | - | - | - | - | - | - | - | - | - | - | - | - | 200,000,000 |
Pioneer NFT | 200,216,895** | 99,891,553 | 49,945,776 | 24,972,888 | 12,486,444 | 6,243,222 | 3,121,611 | 1,560,806 | 781,250 | 779,556 | - | - | - | - | - | - | - | - | - | - | - | 400,000,000 |
Governance Staking | 4,650,685 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 5,349,315 | 200,000,000 |
Yearly Distribution | 304,614,133 | 201,957,904 | 133,623,238 | 72,149,189 | 48,486,444 | 37,576,555 | 33,121,611 | 31,560,806 | 20,781,250 | 10,779,556 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 5,349,315 | 1,000,000,000 |
*2022.07.01 00:00 UTC, **PNFT Reward started on 2022.06.30 at 05:00 UTC
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 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 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.
Last modified 30d ago