January 11, 2024
Dear Iskra Community,
As we navigate the dynamic landscape of the crypto space, we are committed to learning from every experience. In light of recent developments, we are dedicated to ensuring more timely and efficient communication moving forward. We appreciate your patience and understanding for any updated news.
Looking back to September 2022, the Team acknowledged that the concerns raised within our community regarding discrepancies in token amount transfer. It was brought to our attention that the tokens beyond the initially specified allocation outlined in our whitepaper had been transferred. As we were committed to address these concerns transparently and promptly, we had provided the answers through our official Discord channel here.
A total of 60 million ISK tokens, 30 million from the remaining Private Sales amount and 30 million from the Reserve, were moved to the Smart Contract. Such decision was driven by both strategic and technical imperatives as we actively pushed forward to be listed on a major exchange. These tokens were designated to be used for listing-related tasks; otherwise, they would be promptly reclaimed.
Iskra had signed a strategic investment contract focusing on a major exchange listing back then. Thus, the ISK tokens corresponding to the contract were moved to the smart contract accordingly as per the terms, which were valid for one year from September 22, 2022.
Regrettably, on September 21, 2023, the strategic investment contract was terminated due to the counterpart’s inability to fulfill its terms with sincerity, as well as the contract’s expiration, automatically terminating the contract.
Consequently, the 60 million ISK tokens transferred to the smart contract were promptly returned to the private sales and reserve wallets (60 million ISKs were initially transferred to the private sales wallet, with a sequential transfer of 30 million units to the reserve wallet.)
We want to provide assurance that the information pertaining to aforementioned developments have already been openly communicated and shared with exchanges under consideration for listing as well as our community members.
We’ve also shared the information with Xangle Live Watch, leading to further publication on its website. However, as we have recognized the possibility that the visibility of our initial announcement might have been insufficient, we have taken the proactive step to again make additional community announcement to enhance transparency and proactiveness in this particular matter.
As we deeply understand the sensitivity of this case within the token economy, our team is committed to bolstering the transparency across all our disclosures.
Your trust and support are the driving forces behind Iskra. We look forward to navigating this wonderful journey together with you. Again, we sincerely appreciate the continued support from our dedicated community members.
Best Regards,
Iskra Team
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!