Update as of April 1, 2024
ISK Governance Staking Contract Updates
We would like to inform you of upcoming changes to the ISK Governance Staking Contract, effective as of April 4th, 2024.
With the adjustment, the amount of token belonging to ISKRA Foundation ($ISK) will be transitioned from the current GOVERNANCE STAKING REWARD contract (0xb30d…) to a new contract (0x5313…), which will be classified as an uncirculated wallet.
Following this update, the existing contract (0xb30d…) will solely contain ISK that is staked as well as staking rewards eligible for claim, contributing to the circulating supply.
Essentially, we are converting the existing contract to a circulating wallet.
The rationale behind this transition is to establish distinct contracts for managing the Foundation’s holdings and the ISK staking and ISK claimable from staking rewards.
The logic for calculating the circulating supply under the GOVERNANCE STAKING REWARD, as updated in March remains unchanged.
For more comprehensive understanding of these adjustments, please refer to the details below:
ISK Governance Staking Contract Updates
- Schedule for Adjustment: April 4, 2024 (Thu) 10:00 ~ 17:00 (Estimated to take approximately 7 hours)
- It may be delayed depending on the process.
Changes to the Governance Staking Contract
- Existing contract: 0xb30d86d84f5b2df67ef962be0c6cf4c39901d416
- New contract: 0x531356a45aD1FdA7b6ba4B99cCb180fC976C5B1F
Reason for the Change
Circulating Supply Changes
- Since ISK Staking Rewards will be paid out through existing contracts, approximately 100K ISK shall be set aside in reserves in existing contracts for Staking Reward payments, which may result in up to 100K ISK of uncirculated supply being counted as circulating supply.
- Currently, ISKRA Livewatch updates the distribution plan per purpose on a monthly basis. At the time of the month-end update of the distribution plan, with up to 100K ISK of uncirculated supply being counted as circulating supply, there may be some overages for GOVERNANCE STAKING purposes only.
Impact
- Temporarily suspend ISKRA LiveWatch Service during update.
- Some excess circulation may occur at certain times for GOVERNANCE STAKING REWARD contract. However, this will NOT affect the actual circulating supply for the purpose of establishing a reserve to pay out staking rewards.
Update as of March 5, 2024
Enhanced Circulation Volume Logic for Iskra Xangle Live Watch
We are thrilled to announce that the logic for calculating ISK token circulation volume has been updated for Xangle Live Watch!
This enhancement brings about a more accurate and transparent representation of the circulation volume. However, there could be a discrepancy of approximately 8 hours in the data cycle occurred during the data loading process.
We expect the data cycle to be normalized as of March 5th, 17:00 KST.Changes in circulation volume:
- The volume in GOVERNANCE STAKING REWARD wallet that can be claimed through ISK staking and staking rewards, excluding Iskra foundation amount, which were previously uncalculated will now be included in the circulation volume and such logic will also be applied retroactively.
- The volume eligible for claiming through ISK staking and staking rewards, iskInCirculation = 55,790,555.01 ISK (Blocknumber [147114327]), will be calculated as circulation volume.
We appreciate your continued support as we strive to provide the best experience for our community. Thank you for being part of this journey with us!
Iskra Team
January 25, 2024
ISK Token Circulation Plan Implementation
Hi explorers. We would like to provide you with an update on the current status of ISK Token (ticker: ISK) circulation plan implementation.
As of January 25, 2024, there are a total of 51,956,494 ISKs in circulation which include those staked by our users and securely locked into Smart Contract as well as ISK provided as a reward for staking.
While these funds are claimable and constitute a part of the planned circulating supply, we want to bring to your attention that, at present, they are not included in the calculation for a circulating supply according to Xangle Live Watch.
This discrepancy arises from the method employed by Xangle Live Watch, which calculates circulating supply based on contract balances excluding those locked into Smart Contract.
To address this, we plan to update the logic applied at Xangle Live Watch in mid-March as we aim to accurately reflect the aforementioned volume as circulation, ensuring a more precise disclosure of our circulating volume.
For further details, please refer to the Implementation Status of Token Holding Plan by Purpose below.
Implementation Status of Token Holding Plan by Purpose
GOVERNANCE STAKING REWARD
Our [Governance Staking Reward] wallet is designated for storing staking rewards which are to be distributed according to the lockup schedule. At the time of the Xangle Live Watch integration, the amount in this wallet locked up by Smart Contract was considered uncirculated.
As this wallet contains both 1) reserve the Iskra Project retains for future distribution according to the lockup schedule and 2) staked ISKs as well as those claimable as ISK staking rewards, we will update the logic to include staked ISKs and ISK staking rewards as a circulating volume. This adjustment will be reflected and retroactively applied to Xangle Live Watch in mid-March.
ANNOUNCEMENT PLAN
Until the update, we will regularly announce the amount that Iskra foundation reserves designated for future distribution according to the lockup schedule as well as the amount that can be claimed from unstaking ISKs and staking rewards.
As of January 25, 2024 (Block number 144183763 👉🏻 https://klaytnfinder.io/block/144183763):
- Total ISK held by Token Staking Contract (in Governance Staking Reward wallet): 241,575,612 ISK
- Foundation holdings: 189,619,118 ISK
- Staked ISK and rewards from staking: 51,956,494 ISK
- Total sISK count = 37,125,937 sISK
We appreciate your understanding and cooperation as we are committed to enhance the accuracy and transparency of our distribution plans. Feel free to reach out should you have any inquiries.
The 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!