We are excited to announce our public sale is coming! We designed a whole new public sale mechanism for this, which is totally different from traditional IDO. We named it ISO, which means Initial Stake Offering.
What is ISO
ISO means Initial Stake Offering. Users can deposit their $ASTR on our own page to join the ISO.
We will use 50% of the $ASTR deposited to form $AVAT’s initial liquidity. 40% $ASTR will be used to create a reward pool for ISO participants. 10% will be used for team development and operation. Participants will be able to claim the AVAT-ASTR LP token which is the value same as their deposited $ASTR after ISO is finished and the LP is created. At the same time, they will be able to receive the $ASTR reward from the specific ISO reward pool which was created by 40% deposited $ASTR. The $ASTR reward will be linear vesting by block for 365 days or until the ISO participant withdraws their LP from the page.
Once they withdraw the LP, that means they give up the $ASTR on the pool. Then, their $ASTR will be rewarded to the loyal holder who keeps staking in the pool.
Why ISO
Under the bear market, we believe that it would be difficult for the developer to raise the money from IDO. It might be because of the bear market situation and the users’ fear of losing all their money. It is reasonable that users do not want to take that high risk. However, this would be very hard for the builders to get through the bear market without operation fees.
Therefore, we designed ISO. We hope to rebuild the trust between users and projects via ISO. As we know, there are many users who may lose money on different IDO, especially in this market situation. We can’t guarantee participants must get 2x or 10x revenue, what we can guarantee is that participants would never lose all or even 90% principal.
With this mechanism, ISO participants are guaranteed to get back at least 40% principal(Calculated by Currency Standard) if they are loyal holders. Also, they will be able to get at least 90% $ASTR they deposited back and $AVAT which value is the same as the 50% ASTR they deposited, even if the price of the $ASTR and $AVAT do not change after a year.
In addition, if someone withdraws the LP in the early stage, the remaining holders will share the $ASTR that the people give up. That means the loyal users may receive more than 40% principal after a year.
We believe that everyone can be benefited from ISO no matter users, projects, or even the whole Astar ecosystem. Users can invest in a project with a relatively low risk and most of the capital from ISO is used for the users. Projects can gain basic operation fees, have deep initial liquidity, and most importantly gain the users’ trust much easier by this ISO mechanism. Combining all these factors, users in the Astar ecosystem are more willing to grow with projects, rather than sell at the beginning. Finally, all these will benefits the whole ecosystem by incentivizing users and projects to stay in the Astar ecosystem and build ecological development together.
#Example
User A deposits $100 ASTR to join ISO, then he/she will be able to claim $100 ASTR-AVAT LP token which forms by $50 ASTR and $50 AVAT on the ISO page. Then, $40 ASTR from his/her deposit will be used to create an ISO reward pool. $10 ASTR will be used for team development and operation. The LP will be automatically staked in the specific ISO reward pool after the ISO ended. After that, user A can decide to withdraw the LP instantly and sell it, or keep this LP in the ISO reward pool. The remaining $40 ASTR will be linearly vested for 365 days, which means they can get back 40% principal(Calculated by Currency Standard) if they withdraw the LP after a year.
Join our Discord if you have any questions about ISO. There will be another article with more details about the price of $AVAT and the exact ISO date. Stay tuned!
About Avault
Avault means Astar vault. All Astar users can deposit their assets on our platform safely and earn a high return. Avault is a yield aggregator platform that provides aLP/aToken to DeFi users with automated compounding yields at empirically optimal intervals while pooling gas fees through smart contracts and best yield optimization strategies
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About Astar
Astar Network is a dApp hub on Polkadot that supports Ethereum, WebAssembly, and layer 2 solutions like ZK Rollups. Astar aims to be a multi-chain smart contract platform that will support multiple blockchains and virtual machines. Polkadot Relay Chain doesn’t support smart contracts. That’s why it’s important for the ecosystem to have a parachain that enables this for all developers who want to build in the Polkadot ecosystem. Astar is here to provide the best solution for all developers by supporting EVM and making a parachain where EVM and WASM smart contracts can co-exist and communicate with each other.
