Hi explorers! We’re excited to wrap up the month of April with another major platform release that is set to become available on April 27, 2023 – the Iskra Launchpad!
Discover promising game projects in its early stages and reap the rewards of investing in its potential early on. With the Iskra Launchpad, you’re empowered to make that choice with everything that you need all within the Iskra platform.
What is the Iskra Launchpad?
The Iskra Launchpad is a platform that allows game companies working with Iskra to promote their tokens to the Iskra community before its official listing on an exchange.
The Iskra community participating in the launchpad will have the opportunity to discover visionary games at an early stage.
To ensure a seamless and sustainable release of tokens for its initial game offering (IGO), Iskra and the game studio will sort out what tokens of the game studio will be promoted, including the volume, the price, and the distribution ahead of launch on the Iskra Launchpad.
How Does the Iskra Launchpad Work?
Step 1: Decide Which IGO/s to Participate In
The Iskra community can view in advance the Iskra projects that will be on the launchpad for their respective IGOs, so they can decide ahead of time which ones they want to participate in. They can do this by checking out the “Upcoming Games” section in the Launchpad page.
Once the IGO sale starts, the project will be transferred to the “Ongoing Game” section and the “Sale” function for token purchase will become available.
Step 2: Participate in the IGO Sale
During its IGO sale period, the project can be found in the “Ongoing Game” section and token purchase becomes available.
The IGO sale is held in two rounds and the eligibility to join varies for each round.
Step 3: View the IGO Results
Users need to sign the blockchain transaction in order to calculate the confirmed results. After the IGO ends for both the first and the second rounds, the participants will be able to see the “Finalized Results”, view the winning amount of the final game token, and claim the game tokens they won.
The initial status of game tokens is locked. They will be unlocked and distributed according to pre-set vesting conditions and schedule. Meanwhile, express tokens are given out by Iskra with no vesting restrictions.
What Is An Express Token?
Game tokens sold and purchased on the Iskra launchpad have a lock-up condition.
Express tokens have no vesting restrictions and can be used on behalf of the game tokens for contents in the Iskra ecosystem. However, Express tokens cannot be traded, transferred, or sold.
IGO game tokens and Express tokens have 1:1 redemption rights.
How Are Express Tokens Minted?
Every IGO game token has a corresponding Express token, which will be minted by the participants at the time of “Finalizing Results” after the end of the IGO sale.
Example: Game A’s Express token is issued as expA token, while Game B’s Express token is issued as expB token.
Express tokens are issued in quantities equivalent to the number of winning game tokens, and they are used on behalf of IGO game tokens while they are under the vesting lock-up condition. When the game token is eventually unlocked, its corresponding Express token is redeemed and claimed.
When to Use Express Tokens
The Express token is a unique feature of the Iskra Launchpad and can be used in games and within the Iskra platform without any lock-up conditions. The utility of the Express token will be decided by Iskra and the game studio.
Examples:
- Use Express tokens to buy game NFTs on the Iskra Market
- Use Express tokens to get exclusive invites to upcoming events like CBTs
- Use Express tokens for in-game benefits, etc.
About Iskra
Iskra is a single-destination Web3 game platform for developers and players that rewards them for their contribution and participation through a unique community system on the blockchain. This allows stakeholders to take a major part in building the platform for future growth.
Current services include a wallet, DEX, marketplace, NFT Mission Card (daily reward), governance staking and voting, and soon-to-launch Web3 casual and hyper-casual games.
Backed by some of the biggest technology and video game companies in South Korea, Iskra ranks in the top categories for gaming in DappRadar for unique active wallets per day and engagement.
Explore the future of play!