This article will discuss our Liquidity ISO with our partners ErgoDEX, KyberSwap, and Minswap. The rest of this article will explore what to expect, and how to get involved with our community!
Contents
- Liquidity ISO (LISO)
- NETA Liquidity Fund
- NETA Pools
- NETA/cNETA Benefits
- Final Remarks
1. Introduction
We are excited to announce anetaBTC’s version of an ISO, called a Liquidity Initial Stake Pool Offering (LISO).
An Initial Stake Pool Offering (ISO), traditionally, is a method to distribute a protocol’s tokens to the community utilizing the Cardano blockchain’s Proof-of-Stake mechanism. This mechanism incentivizes miners supporting the Cardano blockchain to build out a decentralized network of servers across the globe.
Through our LISO, a total of 15% of the total NETA/cNETA supply, or 300,000,000 cNETA, will be available to be airdropped to delegators of our NETA stake pools with the ticker symbols NETA1 and NETA2. The block minting reward fee is 99% and for each epoch, we will airdrop at least 6 cNETA tokens for each 1,000 ADA delegated.
For instance, if you delegate:
- 3,000 ADA → 18 cNETA per epoch will be airdropped;
- 5,000 ADA → 30 cNETA per epoch will be airdropped;
- 10,000 ADA → 60 cNETA per epoch will be airdropped, and so on.
Additionally, to show our appreciation of our long-term supporters, those who stake with NETA pools for at least six (6) months will be airdropped additional cNETA.
To mitigate saturation, any delegation that brings the saturation of NETA pools to over 100% will not be airdropped cNETA.
Although proceeds from ISO’s have previously been used entirely for internal use, anetaBTC is deploying an overwhelming majority of all ADA earned from mining Cardano for the direct benefit of our community — all NETA/cNETA holders.
2. NETA Liquidity Fund
90% of all ADA earned by NETA stake pools will be injected into a 100% community-owned fund — the NETA Liquidity Fund.
cNETA and NETA token holders will collectively have 100% ownership rights of the NETA Liquidity Fund.
ADA rewards are earned every 5 days by NETA pools, and the Fund will acquire, in approximate values, BTC (30%), ADA (15%), ERG (and ErgoDEX platform token) (15%), MIN (15%), KNC (15%), and NETA/cNETA (10%).
These holdings, as efficiently as possible, will be used to provide liquidity to our DEX partners, ErgoDEX, KyberSwap, and Minswap, and should earn yield as a result.
Yield rewards will be reinvested back into the Fund to facilitate compound growth.
For any DEX campaigns from our Strategic Partners, ErgoDEX and Minswap, we will airdrop 30% of awarded DEX platform tokens to all NETA/cNETA holders based proportionally to their ownership interest, and 70% will be reinvested back into the Fund.
Delegators to verified NETA stake pools will receive a 3x bonus on any airdrops from DEX campaigns by our partners.
This 3x bonus is an incentive for potential delegators to stake with us.
Below is a diagram explaining the flow of the Liquidity ISO.
3. NETA Pools
NETA stake pools will be run by community member Spire Blockchain. Spire Staking pools is ranked in the top 3 on Daedalus Wallet for desirability on the Cardano network.
NETA1 and NETA2 stake pools are now live and accepting delegations.
- NETA1 Pool ID: pool17h6slydr6rd9vquqa38p5cf9xqnpc24w6a99rhllcjzljgugx6x
- NETA2 Pool ID: pool15hx9hze8ulcsw6e7ceelz2pem2g3u9c29wqe4eszkhspj3wcdlx
If there is sufficient demand by delegators which may cause saturation to existing NETA pools, an additional pool will be opened.
The first airdrops of cNETA from the LISO will begin after one month, coinciding with the distribution of pool rewards. Those who delegate during the current epoch (318), before February 4th, 2022, will be the first delegators airdropped.
4. NETA/cNETA Benefits
Holders of NETA and cNETA, collectively, have the following benefits:
- 100% Governance of the anetaBTC protocol;
- 100% Revenue-sharing of all protocol transaction fees;
- 100% Ownership of NETA Liquidity Fund via LISO; and
- 100% Ownership of campaign rewards earned from our DEX partners: ErgoDEX and Minswap.
As anetaBTC is a Decentralized Autonomous Organization (DAO), any majority vote of anetaBTC governance tokens, NETA and cNETA, will dictate the future direction of the anetaBTC protocol, including the ability to liquidate the NETA Liquidity Fund into the hands of all NETA holders, proportional to their ownership interest. Therefore, as the value of assets held by the NETA Liquidity Fund hopefully increases over time, NETA holders should realize an increase in the value of their NETA position.
5. Final Remarks
The Liquidity ISO is our mechanism for distributing cNETA to the public in a fair and equitable way, while also ensuring an overwhelming majority of our efforts are for the direct benefit of all NETA/cNETA holders.
Through the Liquidity ISO, we will also be able to provide valuable liquidity to our DEX partners.
Since its inception, anetaBTC has been committed to a fair and wide distribution to our community members. We believe the value we are creating is made possible only through the active participation of our community.
This is why we believe our community members should benefit from any future appreciation of anetaBTC.
“Greed is so destructive. It destroys everything.”
- Eartha Kitt
For more information about anetaBTC:
Disclaimer
The content of the article is for informational purposes only, you should not construe any such information or any material on the anetaBTC website, Medium, or other official social media accounts as legal, investment, financial, or other advice.
