ISKRA 2.0 is the next chapter for Iskra that starts with our migration to Base, an Ethereum Layer 2 (L2) chain that offers a safe, low-cost, developer-friendly way to build on-chain.
It is a move that marks significant changes within the services and functionalities that we offer as we leverage the Base ecosystem, with the goal of scaling the project to new heights.
In a Community AMA held last April 12, 2024 on Discord, Iskra’s CEO Eugene Lee discussed ISKRA 2.0 in detail, along with what our users can expect in the weeks and months ahead starting with our Base migration.
Check out the recap below:
Learnings From the Past
- Iskra attempted to bring in Web3 users with fun games.
- We gathered a lot of users, but that didn’t lead to GAME users or high retention. We got to understand that for Web3 users, “fun” is “earning”.
- So we’d like to introduce a scheme called Chance to Earn to drive social engagement and on-chain activity while meeting the needs of users (fun is earn).
We have a plan for a creating virtuous cycle of engaging users for activity and rewarding, such as social engagement that will lead to successful games and the success of Iskra portal as well.
Here, attractive rewards matter! We will work on to make ISK more attractive.
Next Step for Iskra
- Chain migration by April 30, 2024 to Base 👉🏻 Next bull market’s infra wars will be waged on L2. As we firmly believe that Base will be the winner, we decided to migrate our hub-chain to BASE.
- Partnership 👉🏻 We’ll continue to forge strong partnership with projects that will be of interest to global Web3 users. We have 4-5 investments that will be announced in April and May as we finalize the contract.
- Platform
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- L3 Chain Support for Gaming: All-in-One Platform
- P-NFT Node Operation
- Token Economy Revamp
- We will airdrop 10,000,000 ISK as part of the reward for the various activities that we have planned to kick off Iskra’s migration to Base.
- Governance token for unlisted games will be airdropped every two (2) months: ISK airdrop in April → $GRAM airdrop in June → Agate’s governance token airdrop in August (and again in October and December). We will have the game studios to have at least 2 games linked to the governance tokens. (for enhanced utility)
- On top of the games mentioned, additional games to be released will also airdrop tokens.
Key Takeaways
- Scheme for Creating an Activity – The existing community tier system will be removed. It will be replaced with a concept called “ActivityFi”. Previously, we’ve allocated whopping rewards to P-NFT and ISK stakers, which limited the financial resources we could provide for user activity. To resolve this, we will put all rewards in one bucket and provide them based on ActivityFi points.
- The 4 essential components of ActivityFi to earn points are by doing the following activities and earn rewards based on them:
- Value Lock Activity: ISK staking
- Social Activity: Twitter
- On-chain Activity
- Referral Activity
- We believe that ActivityFi rewards should be attractive enough to perform the above activities, so we envisioned the following as ActivityFi rewards:
- Basic Income: Governance staking ISK (previously 10 million ISK staking rewards distributed annually for 20 years, now concentrated over 10 years)
- Bonus: Share platform revenue
- Lottery: Distributing unlisted tokens for your game
- Staking rewards are distributed based on each individual’s AP (activity point).
- The most important goal of the games launching on Iskra: 100K UAW + listing on a big exchange.
- WHY? Pixel’s listing on Binance led to Ronin’s listing on Binance. Likewise if a game’s governance token will be launched on a major exchange, it will also drive ISK to be launched → game’s success is Iskra’s success.
- We are committed to devise a scheme to increase the value of the game so that we can also share the rewards with users who participate, if it is successful.
ISK & P-NFT Revamp
ISK and P-NFTs must have a clear role to drive value. All points below increase the utility of ISK.
ISK |
P-NFT |
| Ecosystem-based currency | Asset based on activity |
| Used as a fee for L3 chain | Node operations permissions |
| Will exist as the only pair in a pool of game tokens/game governance tokens launching on the DEX (ex. ISK ↔︎ PXLR, ISK ↔︎ Gram) | Sole authority to open a guild -> permission to gather guild members with a referral code
|
| INO and IGO can only be participated with ISK in the future (base currency) | |
| ISK will be the only currency that can be used to pay swap fees on Bridge | |
| ISK will be the only currency used by gaming companies to pay fees | |
| ISK will be currency used for revenue distribution | |
| 20% of platform revenue goes to ISK buyback: to reduce circulating supply through ISK staking (Value lock activity) |
Roadmap
- Q2
-
- Finalize investments in April-May
- Start Airdrop at Migration (JA, ATMA)
- Governance voting: around May
- Focus on creating strong connections that help with social engagement
- Q3
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- Create a Game Advisory Council with KOLs
- Integration with Layer Zero
- Tokenomics V2 1st phase
- Q4
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- Launching Portal 3.0
- Tokenomics V2 2nd phase
- 2025
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- L3 launching
Changes |
As-Is |
To Be |
| Node Operations |
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| All locked ISK can be unlocked using the Unlock |
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| Reward |
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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!