We’ve had a terrific couple of weeks in Flac, and it’s incredible to witness the community’s enthusiasm for the ongoing seed sale, which will end on May 14th. It’s just the beginning of great opportunities, next up is our ISPO, which provides a fairer option for everyone to participate.
An Initial Stake Pool Offering is a fundraising mechanism built on Cardano. An ISPO is closer to fairer token distribution as users can delegate ADA to Flac ISPO stake pools to support the project without spending their ADA holding or locking it up in a smart contract. To participate in ISPO users will have to stake to Flac ISPO pools as listed in the ISPO dashboard. There will be no vesting period for ISPO participants, all tokens will be airdropped to the user’s wallets at the end of the ISPO.
ISPO start date: 15th May 2022
ISPO end date: 10th Jan 2023
Total ISPO Allocation: 600,000,000 $FLAC
Min. ADA Delegation: 10ADA
Max. ADA Delegation: No Limit
> Find more details about ISPO in our ISPO docs
How to participate in ISPO
The ISPO dashboard will assist users in seamlessly participating in ISPO. Users can easily delegate to a Flac ISPO pool and start receiving rewards by just connecting their light wallet to the dashboard. Additionally, you will be able to copy pool ID and delegate from your preferred wallet which may not be supporting dApp connector functionality. If a pool becomes saturated (as reflected by our dashboard), we’ll create new pools where new users can begin delegating. Participants can also track their $FLAC token rewards via the ISPO dashboard by connecting their wallet or entering their wallet’s receive address.
There are two pool types: 100% $FLAC reward pool and 50% $FLAC reward pools. The 50% pools will generate 50% of rewards as $FLAC tokens and 50% as ADA, while the 100% pool type will generate 100% of rewards as $FLAC tokens. The ISPO dashboard will show the pool type and you can choose to delegate to any pool type.
There are 2 pools right now on the dashboard, 1 of each type. More pools will be created once the existing pools are saturated.
Access the ISPO dashboard here, https://flac.finance/ispo
Make sure to delegate using the ISPO dashboard or copy the pool Id only using the ISPO dashboard listed pools to make sure you are delegating to the official Flac Finance ISPO pools.
You can delegate to Flac ISPO pools from any wallet that supports delegating to a stake pool. You can get the stake pool id from the ISPO dashboard. Additionally, you can stake to ISPO pools easily using the wallets that support the dApp connector. eg. Typhon Wallet, Eternl Wallet, Nami, Gero etc, and delegate with Daedalus, Nu.Fi, and Adalite using pool id from the ISPO dashboard.
$FLAC reward calculation
If staked with a 100% margin pool, per 1 ADA delegated user will receive 0.02 $FLAC tokens every epoch, and 0.01$FLAC tokens per epoch if staked with a 50% margin pool.
The ADA staked per wallet will be recorded at every epoch boundary, an epoch has a duration of 5 days. You will be rewarded $FLAC tokens every 5 days and can see them on the ISPO dashboard itself. The tokens will be locked until the ISPO end and will be airdropped to every user at the end of the ISPO.
$FLAC reward boost
ISPO will run for a total of 48 epochs, for users choosing to stay with us for a longer time will have extra rewards.
If delegated for 16 epochs, there will be 2% extra $FLAC token rewards.
If delegated for 32 epochs, there will be 4% extra $FLAC token rewards.
If delegated for 48 epochs, there will be 8% extra $FLAC token rewards.
There is a rewards estimator on the ISPO dashboard to help you calculate how much $FLAC tokens you will earn. And you can also track your earned $FLAC tokens by connecting your wallet or by searching with your wallet address.