FISO is ending, what’s next?
Minswap is proud to have pioneered the FISO model as a way to distribute its tokens to community members. We believe that while Cardano has emerged as the most decentralized PoS blockchain network, with more than 3000 nodes and 70% of total supply staked, every effort ought to be made to maintain and advance this level of decentralization, educate and raise awareness on the subject.
When we designed the FISO, we aimed to empower small and medium SPOs to benefit from the emergence of DeFi in Cardano by enabling them to build trust and reputation as ISO partners, and in that way contributing our small part to further decentralizing the network. The FISO has been a resounding success, with more than 200 million ADA delegated across our 25 stake pool partners over 3 months, minting 2400 blocks in the process.
We would like to thank the 14,000 delegators and our stake pool partners: ADAHS, ADATA, ALFA, ALPCH, AMOON, APOOL, BACK, BLADE, COINZ, DEGAS, EU01, EUSKL, FUNGI, GINGR, HYPE, JUST, MALU, NOVA, QCPOL, RSV, SOLIA, SWELL, TREE, VAULT and YOADA for being part of this journey with us.
Though there has been a recent security concern about spoofing the stake key, it doesn’t affect Minswap as we will send rewards back to the payment address in the delegation transaction, not the claiming transaction. Therefore, in the event that an attacker spoofs a delegator’s stake key, we will still be able to send the rewards back to the original delegator. That being said, we’re taking a more careful approach and will deploy the claiming system on testnet for 1 week before launching it on mainnet. The testnet for claiming system is only for testing only without any incentive.
The final epoch’s snapshot for calculating rewards will be taken at November 26th 22 PM UTC. Here is the timeline for claiming tokens that you should be aware of:
- December 7th: MINt tokens can be claimed on testnet and we will publish a how-to guide for claiming MINt tokens and what to do next with them.
- December 13th: MINt tokens can be claimed on mainnet.
- January 3rd: MIN tokens can be claimed on testnet.
- January 10th: MIN tokens can be claimed on mainnet.
- February 1st: Last day to claim MINt tokens.
- March 1st: Last day to claim MIN tokens.
The claimable MIN tokens will be based on the vested amount. For example, on January 15th, you can claim 1/9 of your MIN tokens.
For stake pools
We wish you all the best on your journey! This is not the end but the beginning of our series of events and campaigns that will involve SPOs. In the future, we can expect to have exciting features like Laminar node operators, or delegating ADA from our liquidity pools to small and medium-sized SPOs. Stay tuned!