Announcement: Earn Twice the Ardana ISPO Rewards by Delegating before March 31st
Today, we are delighted to announce that ISPO supporters who stake before March 31st can earn big bonus multipliers that will increase their Ardana ISPO rewards once it starts on July 4th! The list of ASPA pools can be found here.
In order to reward long-time supporters of ASPA pools, Ardana will apply a reward bonus multiplier to wallets staked before the start of the ISPO. There is no minimum staking requirement.
The initial snapshot will occur at 21:45 UTC on March 31st, 2022 with live stake and active stake being considered, and every epoch boundary after that with only active stake considered. The total rewards for the ISPO will be 2.5 million DANA; however, this may change depending on how much is staked. If new pools are required, the focus will likely be on small pools.
As illustrated in the chart below, those who choose to stake their wallets will earn a linear 0.05x multiplier for each epoch staked during the bonus period for a total of 2x if staked throughout the bonus period.
Along with providing great rewards for Ardana supporters, the multiplier will improve overall system efficiency by allowing ADA to flow more freely into our ASPA pools and ensuring that DANA rewards are distributed more evenly.
Furthermore, participants in the Ardana ISPO will be able to view their DANA rewards as they accrue in a claim portal that will be announced in a future article.
Early Staking Bonus Multiplier
Let’s take a closer look at what kind of bonuses are available for those participating in the early staking bonus multiplier.
As of March 31st, 2022, 21:45 UTC until July 4th, 2022, 21:45 UTC (20 epochs in total), the longer participants delegate to an ASPA pool, the higher their bonus multiplier will be. The bonus multiplier is calculated for each amount that was added separately- that way, it’s impossible to manipulate the system by staking 1 ADA during the early rewards period (between March 31st and July 4th), and then increasing delegation to a larger amount after the ISPO begins.
Each bonus multiplier starts at 1x, which means no multiplier has been applied. The bonus multiplier is capped at 2x multiplier. This means participants can look forward to earning a 0.05x bonus multiplier for each epoch.
But how does this work in practice? Imagine the following scenario:
A participant decides to delegate on April 29th and remains delegated until the ISPO kicks off on July 4th. They will then have earned 14 epochs x 0.05x = 0.70x bonus multiplier. When the ISPO starts, they will earn DANA tokens with a generous multiplier of 1.70x. Remember, delegating before March 31st grants participants a 2x bonus multiplier.
The early staking bonus multipliers per epoch are set out in the table below. Participants must delegate before the “Snapshot Date” in the table if they wish to begin accumulating the corresponding .05x bonus multipliers. Unstaking at any time during the early rewards timeframe (or ISPO) will reset all bonus multipliers back to the baseline of 100% (1x) rewards.
The early rewards timeline/rolling snapshot schedule is as follows:
Standard Staking Multiplier Bonus
When the early staking bonus multiplier period has finished, the Ardana ISPO has officially begun! Old and new stakers will still accrue a standard staking multiplier bonus that increases by 0.01x per epoch from July 4th, 2022, 21:45 UTC to the last epoch of the year and the end of the ISPO, on December 31st, 2022, 21:45 UTC.
Small Pool Multiplier
To encourage decentralization, a small pool multiplier will be applied to all pools with less than 5 million ADA staked within their pool. The small pool multiplier will be a single, one-time 0.1x multiplier applied on top of existing multipliers to any new delegate that stakes with a small pool, and they will have to remain in that pool to keep it. Once all pools within ASPA are above 5 million ADA staked, the bar will be raised to 10 million ADA for new delegates coming in.
To reward existing ASPA delegators for their loyalty, the Small Pool Multiplier will be awarded to all existing delegators that have staked with an ASPA pool before March 31st at 21:45 UTC. Once again, existing ASPA stakers will not need to redelegate their ADA to a sub-5 million ADA ASPA stake pool to receive the small pool multiplier bonus.
Important Points to Remember
- If a participant decides to redelegate to another pool (including other ASPA pools), their bonus multipliers and small pool multiplier will be reset to 100% (1x).
- If a participant’s ASPA pool is saturated and they decide to move to another ASPA pool, their multiplier will not be reset, and they will continue to accumulate rewards until reaching the max.
- If a participant earns the small pool multiplier, this will remain in place provided they stay with their pool. This is to avoid the need for participants to relocate into a smaller pool after initially selecting/delegating to their ASPA pool of choice.
- The early reward bonus multiplier is calculated on a regular basis (Snapshots taken each epoch) between March 31 and July 4th, based on the amount of ADA that was delegated. For example, staking 100 ADA on March 31stst and adding 100,000 ADA just after the ISPO begins will earn you a 200% multiplier for the initial 100 ADA and no early bonus multiplier for the remaining 100,000 ADA.
- Participants will accrue DANA tokens for each full epoch they stake within their ASPA pool after the ISPO begins — early staking and small pool bonuses will be applied to calculate these rewards. Participants’ accrued DANA tokens can then be claimed after the ISPO has ended (details will be announced later).
We are very pleased to announce that ISPO supporters who stake before March 31st can earn big bonus rewards during the Ardana ISPO.
ISPOs in the Cardano ecosystem are an iterative process. We are excited at our contribution to this thriving collaboration of builders, dreamers, and innovators with the mechanics we’ve designed in cooperation with our ASPA partners.
Ardana is Cardano’s stablecoin hub, bringing the necessary DeFi primitives needed to bootstrap & maintain any economy to Cardano. Ardana offers an on-chain asset-backed stablecoin and a decentralized stable-asset DEX. The stablecoin is verifiably backed by an excess of on-chain collateral and will enable borrowers to take leverage on their ADA or other supported assets. The DEX is a highly capital efficient exchange enabling swaps with minimal slippage & fees while providing low-risk yield opportunities to liquidity providers.