MELD
Published in

MELD

How To Participate in the MELD ISPO

Learn how to delegate ADA to MELDs Initial Stake Pools

MELD is taking a new approach towards token launches by offering the Community an Initial Stake Pool Offering (ISPO). An ISPO differs from other means for token launches by how it generates revenue. The user experience is as followed:

  1. Purchase ADA
  2. Delegate ADA to one of MELDs Cardano nodes:
    MELD (100% MELD)
    MELD (50% MELD 50% ADA)
  3. Earn MELD tokens every epoch (5 days) — locked until the token release
  4. Undelegate ADA
  5. Get MELD tokens airdropped on Dec 8 to your delegation wallet

This approach is revolutionary! Never before has a token launch offered the wider crypto community a comprehensive and all-inclusive entry into their token prior to their operations commencing. What we love about the MELD ISPO is that all participants get to keep the ADA that they stake securely, whilst earning an attractive amount of MELD tokens that are new and expanding the wealth of their crypto portfolio. It’s all about giving and not taking, opening up opportunities and MELD sees it as a win-win-win; for the Community, for ADA, and for MELD!

  • Learn more about the MELD ISPO 👉 HERE

This article is written to explain to our users what Cardano is, why our ISPs are desirable, how to add your ADA to one of our ISPs, and how you earn rewards with MELD tokens from your participation.

What is Cardano?

Cardano is a decentralized third-generation proof-of-stake blockchain platform, currently the third-largest blockchain in the market. Whilst it shares characteristics and applications with other blockchain platforms like Ethereum, Cardano distinguishes itself from others through a commitment to peer-reviewed scientific research as building blocks for updates to its platform.

Three organizations are responsible for Cardano’s development: IOHK, Cardano Foundation, and EMURGO. The first two are non-profit foundations and the third is a for-profit entity. The IOHK, which is responsible for building Cardano, works with a team of academics spread out across the world to produce research and review platform updates before implementation to ensure that they are scalable.

Why does Cardano require ADA to be staked or delegated to nodes?

ADA held on the Cardano network represents a stake in the network, with the size of the stake proportional to the amount of ADA held. The ability to delegate or pledge a stake is fundamental to how Cardano works.

The amount of stake delegated to a given stake pool is the primary way the Cardano protocol chooses who should add the next block to the blockchain, and receive a monetary reward for doing so.

The more stake is delegated to a stake pool (up to a certain point), the more likely it is to make the next block — and the rewards that it earns are shared between everyone who delegated their stake to that stake pool.

How to earn rewards by staking ADA on Cardano

There are two ways an ADA holder can earn rewards:

  1. Delegating their stake to a stake pool run by someone else
  2. Running their own stake pool

Benefits of staking ADA to MELD node

Stake ADA in MELDs Initial Stake Pools to earn MELD tokens

  • Staking ADA to a Cardano node generates ADA as a reward every epoch (5 days)
  • Staking ADA to a MELD(100% MELD) Cardano node generates 0.065 MELD as a reward every epoch
  • Staking ADA to a MELD(50% MELD 50% ADA) Cardano node generates 0.0325 MELD as a reward every epoch and 50% ADA rewards.

MELD keeps the ADA rewards from those delegating ADA to the MELD Cardano node and in return offers its MELD token as the participant's reward. We have opened a MELD(50% MELD 50% ADA) node as per community request!

Community investors, aka participants, in the MELD ISPO get to keep their staked ADA which will securely be returned to them at any time of their choosing, but whilst participating in the ISP contribute to farming the MELD token. This participation supports and generates revenues for the MELD Protocol, yet doesn’t deprive the participating members of the Community of their staked ADA.

How to stake ADA to MELD Cardano nodes

Cardano Wallets

Delegation to Cardano nodes is supported by:

  • Daedalus — a full-node wallet developed by IOHK
  • Yoroi — a browser-based wallet developed by EMURGO.

Using Yoroi — browser-based wallet

1. Download Yoroi from the Yoroi website — HERE

2. Click the extension to open up the account creation page.

3. Continue through steps and then choose “Create wallet”

4. Choose “Cardano”

5. Continue through account setup, write down your recovery phrase, and complete the creation of your wallet. After your account is set up, you can access the dashboard.

6. Once ADA is purchased on some external exchange, such as Binance, you can send that ADA to the Yoroi wallet from the “Receive” tab

7. Now that you have ADA in your wallet, you can click the “Delegation List” to find the MELD ISPs.

8. Here you can search for MELD and then click DELEGATE on one of the MELD ISPs to enter into the MELD ISPO.

What’s the difference between MELD (100% MELD) and MELD (50% MELD 50% ADA)?

MELD (100% MELD)

This ISP offers 100% of rewards in MELD.

MELD (50% MELD 50% ADA)

This ISP offers 50% of rewards in MELD and 50% rewards in ADA.

We will continue to open ISPs as they are required and will make community announcements on the current levels of saturation.

NOTE: You earn the same MELD / ADA / EPOCH regardless of pool saturation levels.

Conclusion

To experienced as well as new Cardano wallet holders, and stake pool investors, we at MELD believe something more exciting and fulfilling should be made available than just yielding more ADA as a reward. New investors wanting to participate in our ISPO may find the whole process a little daunting. We hope this article and steps provide some clarity and get you prepped for participating in the MELD ISPO!

  • Signup for the MELD ISPO starting July 1st 👉 HERE

If you have any more questions in regards to participating in the MELD ISPO, please send us a message via our Telegram Group or Twitter.

Thanks for reading!

Stay Tuned — MELD

We think it’s essential for everyone to gain control of their financial lives and have equal access to financial instruments used by professionals, not just centralized institutions, governments, or the 1%. We want to provide financial freedom and control to the masses, including the unbanked.

We have a long-term goal to enable the $15 trillion that is currently locked out of the global economy, including 2 billion individuals worldwide that are either underbanked or have no access to banking services whatsoever, access to these tools. These are the people that are paying the highest fees, getting the worst customer service, and they are the ones that are having the most problems.

Our vision is to create an ecosystem that empowers individuals to regain financial control by providing them with the tools and services they need to manage their money on their terms. Whether that be creating a collateralized debt position (CDP) with cryptocurrency, earning an interest return for lending fiat to borrowers, or even participating in reward incentive programs, we strive to provide our users with the functions they need to manage their own financial lives.

Website | GitBook | Twitter | Telegram Group | Telegram Notifications | Linkedin | Github | Youtube | Discord

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Stuart

Stuart

MELD is the future of DeFi. DeFi is life.