MELD — ISPO is FULL!

No more delegations accepted after Wed 27

Stuart
Stuart
Oct 27 · 5 min read

Wow! We now have nearly 620 Million ADA delegated to the MELD ISPO along with a fully subscribed private sale which means we have met all of the goals we have set for the ISPO and the pre-sale! 🥳️🎉

The sad news… there will soon be no more $MELD left for new delegators 😔

This was also announced during the recent MELD Live AMA, which can be found on the MELD YouTube channel:
MELD AMA — https://www.youtube.com/watch?v=NANPoVZ6vXI

Cardano epoch 299:
⭐️ Wed 27 Oct 2021–21:45:00 UTC ⭐️

  • $ADA delegated to the MELD ISPO before the above date,
    will be eligible for $MELD rewards for the rest of the MELD ISPO
  • $ADA delegated to the MELD ISPO after the above date,
    will NOT receive $MELD rewards for the rest of the MELD ISPO

Note: MELD ISPO delegators are still able to leave whenever they choose.

🚨 Clarification about ISPO end 🚨

Important to understand: There are 2 components when it comes to rewards BONUS REWARDS and EPOCH REWARDS

Bonus Rewards
$MELD BONUS REWARDS were implemented early on in the ISPO to incentivize long-term delegators to the MELD ISPO. See below for more information on $MELD Bonus Rewards
Medium article: NEW — MELD ISPO Rewards

Epoch Rewards
$MELD EPOCH REWARDS are 0.065 $MELD / $ADA staked / Epoch.

  • You can freely move between MELD pools
  • You can add more $ADA to your delegation at any time in order to get more $MELD rewards
  • You can take out $ADA and put it back into a MELD stake pool (take it out after epoch start and put it back in before the same epoch’s end) and your $MELD rewards will be unaffected.
  • You CANNOT move between MELD pools anymore.
  • You CANNOT add more $ADA to your delegation at any time in order to get more $MELD rewards
  • You CANNOT move funds in and out of the wallet during an epoch. Anything that is taken out of the wallet stays out of rewards calculations

Example:
I have been delegating 1k $ADA since epoch 280.
If I add 500 more $ADA, I’ll have a total delegation of 1.5k $ADA
The rewards calculations will be made only on 1k $ADA
The extra 500 $ADA is ignored and no $MELD rewards are awarded for that
If at any point going in the future you take out for example 200 $ADA, you will get EPOCH REWARDS only on the remaining 800 $ADA even if you put the 200 $ADA back in the wallet.

⭐️ This is just affecting the 1 component of the rewards and that is EPOCH REWARDS. The BONUS REWARDS have no relation to this.

NOTE:
This DOES NOT mean that your $ADA is locked in any way
This DOES NOT mean that you will not get any rewards from the past
This DOES NOT mean that you won’t get any rewards going forward for your $ADA delegated
This DOES NOT mean that you lose your bonus

ISPO Thoughts…

There are tons of different ways companies can perform ISPOs, with some keeping the block rewards, some giving the block rewards to delegators, and a whole range of token distribution methods to choose from.

All in all, we are more than happy with how the MELD ISPO has played out and the community engagement and interest have been MASSIVE!

We’d like to thank our delegators and private-sale participants for your continued support and interest in MELD. The ISPO is just the beginning of the MELD protocol and we are now thrilled to start the show!

There will be Diamond Hand NFTs for ALL eligible participants.

To recall, Diamond Hands are achieved by delegating for 30+ epochs which means a user would have to delegate before Cardano epoch 278 (Wed 14 Jul 2021–21:45:00 UTC) and keep their $ADA delegated to the MELD ISPO through Cardano epoch 307 (Mon 06 Dec 2021–21:45:00 UTC) to be eligible for the Diamond Hands NFT.

We will be creating a dashboard for users to claim their NFT, which can be utilized after the MELD ISPO! We will be having more info on this as it is developed.

We will be closing down all the MELD stake pools except for 1 and changing the margin of the stake pool back to industry SPO standard. (1–3%)

Sit back, relax, and get ready for your $MELD airdrop on December 8th! 🚀

MELD — Enjoy today, Secure tomorrow

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, to access 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.

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MELD Labs

MELD is the first decentralized, non-custodial protocol for borrowing & lending fiat & crytocurrency

MELD Labs

MELD is a decentralized and trustless network built on the Cardano Blockchain using smart contracts and governed by the MELD token. This provides a fast, safe and transparent set of tools for all participants to lend and borrow in.

Stuart

Written by

Stuart

Crypto Social Media Übermensch

MELD Labs

MELD is a decentralized and trustless network built on the Cardano Blockchain using smart contracts and governed by the MELD token. This provides a fast, safe and transparent set of tools for all participants to lend and borrow in.