Through a unique integration with LIDO, DEGA™ will be launching their innovative crowdfunding technology on February 7th. DEGA™, known for their growing platform of blockchain game development tools, set out to find a way for projects to fund themselves in its ecosystem. They adapted a proven and battle tested concept, the Initial Stake Pool Offering (ISPO) for Ethereum.
What’s an ISPO?
An ISPO is a novel way for early adopters to support new projects using a blockchain’s proof of stake rewards. Instead of the “all in” purchase of a token sale like an ICO, participants can delegate tokens (i.e. ETH) to a project’s stakepool secured by smart contracts in exchange for the project's token.
In a world’s first event, DEGA™ has extended this unique method for crowdfunding to Ethereum and will be conducting an ISPO for its own $DEGA token launch. During the DEGA™ Ethereum ISPO, participants will be able to stake their $ETH (through LIDO $stETH) and be rewarded in $DEGA, a deflationary utility token.
DEGA™ has designed, developed, and audited this technology not only to help others crowdfund their projects but also to help the Ethereum ecosystem further decentralize staking. The team at DEGA™ worked with STATEMIND for audits to secure the ETH ISPO smart contracts.
“DEGA’s design intent to onboard more ecosystem participants, especially in under-resourced areas of the world, really resonates…as it’s a mission we share”, said Andrew Vermouth of the Ethereum Foundation. He further stated, “An ISPO has the potential to push the needle on end-user adoption beyond the current dev-centric focus. We’re excited to see its impact on the ecosystem.”
To ensure success in its ISPO deployment, DEGA™ has also partnered with MELD Finance who was one of the first to take advantage of this crowdfunding mechanic. Attracting more than $1 billion worth of staked Cardano in their own record-breaking ISPO, MELD brings the experience of one of the most successful ISPOs to the table to help DEGA™ succeed.
“The promise of DEGA’s technology is making waves in our community. Furthermore, DEGA and MELD share a vision about inclusion so we’re pulling out the stops to assist DEGA in their ISPO.”, said MELD CEO, Ken Olling regarding their partnership with DEGA. He added, “We know our experience in executing an ISPO will be helpful in ensuring DEGA’s success.”
Early access to multiple Web3 gaming projects
Once DEGA™ deploys ISPOs to game builders on its platform, they expect the DEGA™ community to have a wide range of gaming tokens from which to choose. They will even repurpose the ISPO technology so that ETH yield can be used as a Web3 subscription method.
In regards to this, DEGA™ CEO, Carlos Rene, stated:
“When you combine the tools to rapidly develop games with a crowdfunding mechanism, everybody wins. The game builder wins. The investor community wins. The DEGA community wins. Every blockchain we support wins. The DEGA ecosystem is the place to be for early access to Web3 gaming projects.”
More about DEGA™
DEGA™ is a Web3 game developer ecosystem of powerful protocols, developer tools, and gamification services focusing on ease of use through AI-assisted interfaces, familiar developer APIs, and easy-to-use web applications. DEGA™ allows creatives to focus on bringing their stories to life while DEGA™ handles the complexities of Web3 technology infrastructure.
The DEGA™ team’s vision is to empower billions of people to project their creativity into the digital economy. Every day they work tirelessly to build open software tools and experiences to enable creatives to participate in the world of Web3 using the most innovative technologies available.
Learn more about DEGA™ and their Ethereum ISPO by visiting: https://www.dega.org/ispo.
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