The ISK Token is an asset that has voting rights and allows the holder to participate in determining the direction of the platform through governance staking. The token economy and business model of the Iskra platform is to maintain and increase the value of the ISK Token.
$ISK is Iskra’s native token. The ISK token is the key currency used for all Iskra platform services (Bridge, Dex, Marketplace, Stable Swap, Launchpad, Wallet), in Iskra’s blockchain game publishing ecosystem and it will be used as the ‘base’ currency for the transaction fees on Iskra’s blockchain mainnet, the Hub-chain.
$ISK can be obtained through the Pioneer NFT, bought on the exchanges(CEX, DEX etc.) or earned as a reward for participating in the community. $ISK is used for all the platform services provided within the Iskra ecosystem, such as paying for service fees transaction fees, or charging for a variety of other Iskra features in the future. And if you want to buy Iskra’s Pioneer NFT after the first 10,000 are sold, $ISK will be the only currency used for purchase.
ISK tokens also provide governance influence, meaning you have the right to propose and vote on initiatives and policies that affect the entire Iskra community. For example, game studios that stake $ISK can submit proposals to lower the royalties or service fees they have to pay to the platform. Other community members staking $ISK can submit proposals to change the distribution of CPs based on platform contribution. Even the Iskra Team is required to stake $ISK in order to secure governance power of the platform!
Aside from gaining governance power, staking $ISK also means you’ll get rewarded with even more $ISK from the Governance Staking Reward and Community Rewards Pool. You can get rewarded with 20% of total ISK supply and earn CPs (contribution points) for staking $ISK, which increases your community rank. A higher community rank means a bigger slice of the pie being shared from the Community Rewards Pool where up to 100% of platform fees after token burn* is going to be reserved. * 20% of all the revenue from platform fees will be used to burn the ISK token
You can learn more about Iskra’s Community Structure here.
ISK Token Allocation and Details
The total supply of $ISK tokens is 1 billion and will be allocated in accordance with a distribution plan between the Iskra team, token sales, ecosystem fund, Pioneer NFT reward, and governance staking reward.
- Team 10%(100 million)
- Token Sale 12% (120 million)
- Private Sale 7% (70 million)
- Public Sale 5% (50 million)
- Pioneer NFT Rewards (40%)
- After distributing 200 million in the first year, PNFTrewards will be paid for 10 years with a half-life.
e.g. Y1: 200M, Y2: 100M, Y3: 50M (A total of 350 million ISK tokens will be distributed in the first three years) - Rewards for the Pioneer NFT holders who stake PNFT or run nodes.
- Pioneers may operate multiple nodes with multiple Pioneer NFTs in one account.
- Pioneer NFTs that aren’t staked or not utilized for the node operation can NOT receive rewards.
- After distributing 200 million in the first year, PNFTrewards will be paid for 10 years with a half-life.
- Staking Rewards (20%)
- Reward for ISK token governance stakers
- 10 million ISK tokens evenly distributed over 20 years
- Ecosystem Fund 18% (180 million)
- Reserve for platform activation
- Game acquisition
- Marketing
- Advisor
- Partnership
- Others for the further business
- Reserve for platform activation
In a Nutshell
The ISK token is a critical part of the overall tokenomics of the Iskra ecosystem. Combined with the Pioneer NFT, sensible lock-up and earning mechanisms should help maintain and grow its value.
For an overview of Iskra’s Tokenomics click here
To learn more about the Iskra Ecosystem check out our news page here for our blogs, videos and more: https://news.iskra.world