Metera ISPO Full Details

Metera Protocol
6 min readNov 16, 2023

It is with great pleasure that we make this highly anticipated announcement and finally reveal the details of our Initial Stake Pool Offering (ISPO).

The ISPO was carefully designed in close cooperation with Maestro and took in consideration valuable feedback from Meteran enthusiasts and members of the wider Cardano community. Together we worked towards a design with fairness at its core, that is reflected in the valuation subjacent to the $METERA token and the funds to be raised for the next stages of development, but also in the project share allocated to the community and the selected methods of token distribution.

The ISPO will last 42 epochs, starting on epoch 451 and will end on epoch 493. To qualify for the first snapshot of the $METERA rewards, delegators should stake to the ISPO pools before December 1st, 21:45 UTC.

Your first $METERA rewards will be calculated once your delegation is counted as “Active Stake”.

Delegate in our main pool: MTERA
Delegate with our partnered pools: https://www.gomaestro.org/marketplace/38

Following the tokenomics described in the litepaper, we allocated 90,000,000 tokens to be distributed via the ISPO, which constitutes 9% of the total supply of $METERA. As announced earlier this month, Metera will partner up with Single Stake Pool Operators (SSPO’s), that will have an active role in the distribution of a portion of the tokens allocated to the ISPO.

Taking in consideration the high interest in Metera’s ISPO, demonstrated by the large number of SSPO applications to participate in the token distribution, we raised the final number of partnering pools up to 8 and extended the voting period until November 20th, at 16:00 UTC. In addition to the voted SSPOs selected by the community, we’ve also invited 7 other pools to join as partners and distribute $METERA during our ISPO. These invitations were extended to early supporting SSPO’s working closely with us as advisors, lending support to the Cardano communities in LATAM or acting on climate change issues.

Once all partner pools are selected, we will announce the full list of stake pool tickers and ID’s. Beware of impersonator pools with similar tickers, as ADA delegations to pools not figuring in the official list will not be considered for the ISPO.

We raised the partner pools’ token allocation proposed initially from 3% to 10%. This increase shows our commitment to the Cardano community and honours the interest shown in our ISPO. Throughout its duration, in each epoch 10% of the $METERA token rewards earned in the main pool will be allocated for distribution among the delegators staking in the partnered pools. $METERA rewards will then be calculated according to the ADA staked by each delegator relative to the total ADA staked in all the partner pools collectively.

In the stake pool operated by Metera, the variable fee will be raised to 99%. Delegators will earn $METERA tokens at an increased rate but will not receive their regular ADA staking rewards. In this pool, delegators will earn tokens at a base fixed rate of 0.0167 $METERA per ADA staked per epoch, which is to say that delegators will earn 1 $METERA token per 60 ADA staked per epoch.

$METERA fixed rewards formula

In total, 45,000,000 $METERA tokens will be distributed as base rewards in the ISPO. Another 36,000,000 $METERA tokens will be distributed as bonuses, seeking to reward long-term support to the ISPO, large delegations and the staking of Metera NFT’s. The remaining 9,000,000 $METERA tokens will be distributed by the partner SSPOs.

ISPO BOOSTS

Time Tiers: we believe that it is important to reward long-term support from our delegators and, as such, delegators staking for a long period will unlock a retroactive bonus. Delegators staking at least 1000 ADA for 20 epochs (Tier 1) will earn an additional 16% bonus, while delegators staking for longer than 35 epochs will earn an additional 32% bonus (Tier 2).

Time Based Boosts for Metera ISPO

Effectively, this increases the rewards to a rate of 0.0193 (Tier 1) or 0.0220 (Tier 2) $METERA per ADA staked per epoch, which is to say that delegators will earn 1 $METERA token per 51.7 (Tier 1) or 45.5 (Tier 2) ADA staked per epoch. The bonuses are calculated from the base reward rate.

ADA Staked Tiers: we also seek to reward our delegators according to their support in terms of ADA committed to the ISPO. For this, we defined three Tiers of ADA that unlock retroactive bonuses after being staked in the ISPO for 20 or more epochs. Delegators staking 15,000 ADA (Tier 1) will earn an additional 8.30% bonus. Delegators staking 50,000 ADA (Tier 2) will earn an additional 16.59% bonus, while delegators staking 75,000 ADA (Tier 3) will earn an additional 25% bonus. The bonuses are calculated from the base reward rate.

ADA Staked Boosts for Metera ISPO

In summary, staking in the ISPO for 20 or more epochs unlocks both the long-term bonus of 16% (Tier 1), or 32% after 35 epochs (Tier 2), and the large delegation bonuses of either 8.3% (Tier 1), 16.59% (Tier 2) or 25% (Tier 3).

MeteraNFT Tiers: we will also reward Meterans. As promised, the number of tokens granted by the Metera Black, Metera Blue and Metera White NFT’s will be boosted upon participation in the ISPO. This will be done in partnership with VyFinance and recurring to its staking vaults. Wallets delegating 1000 ADA or more for at least 20 epochs in the main pool of the ISPO, that lock Metera NFT’s for 20 epochs in the VyFinance vault, will enjoy a 40% bonus to the number of $METERA tokens granted by each NFT. Metera Black will yield an additional 440,000 $METERA, Metera Blue will yield an additional 3,250 $METERA and Metera White will yield an additional 2,580 $METERA.

VyFi vaults will be made available during the first epoch.

MeteraNFT boosts for Metera ISPO

This boost is only available for users that stake in the main pool of Metera’s ISPO. Delegation towards our partner SSPOs will not count towards this boost.

When will $METERA tokens be distributed?

Currently, there are no $METERA tokens in circulation. $METERA tokens earned through the ISPO will be distributed following a linear 6-month vesting schedule starting after our Liquidity Event.

What happens if the $METERA allocated to the ISPO is not distributed in the 42 epochs?

Any remainder tokens from the 9% allocated to the ISPO and not distributed in the 42 epochs will be allocated towards our Liquidity Event.

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Metera Protocol is a decentralized finance (DeFi) protocol built on the Cardano blockchain that enables the creation and investment of tokenized portfolios known as Metera Tokenized Portfolios (MTKs). Each MTK is assigned a Global Impact Score based on the Impact Measurement System (IMS) tool, which assesses the sustainability and impact aspects of decentralized digital assets, providing visibility to projects that are generating more impact.

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Metera Protocol

Metera Protocol is a platform built in the Cardano Ecosystem that enables the investment and creation of tokenized portfolios.