Profila — a Blitz ISPO on Cardano

Dear Profila and Cardano community,

Please find below more details of our Initial Stake Pool Offering (ISPO) for our Cardano native token $ZEKE.

The ISPO was designed in cooperation with Maestro — The complete Web3 stack for Cardano. (gomaestro.org) and our partner stakepools.

Getting Started

What is an ISPO?

An ISPO is a fundraising mechanism that allows delegators of a POS (Proof-of-Stake) network to divert staking rewards towards a project of their choice and get project tokens in return. It is an unique mechanism that allows the community to support their favorite project without investing their own assets, but instead leveraging the network’s native reward incentive structure. ISPOs are only possible on the Cardano blockchain because of its unique stake pool delegation structure.

How do I take part?

Taking part is simple! You simply either choose to stake in Profila’s own pool or with one of our selected community pools. Delegate in our main pool or one of our partner pools: Maestro — The complete Web3 stack for Cardano. (gomaestro.org)

When staking with a community pool, you’ll receive your usual amount of ADA per epoch as well as ZEKE rewards.

When staking with Profila, you won’t receive your ADA but instead a much higher amount of ZEKE (all amounts and calculations below)

Why is it called a “blitz” ISPO?

We’re calling this a ‘Blitz ISPO’ due to its short nature. The ISPO will last 10 epochs, starting on epoch 485 (May 14, 2024). and will end on epoch 494 (June 28, 2024). To qualify for the first snapshot of the $ZEKE rewards, delegators should stake to the ISPO pools before May 14, 21:45 UTC.

ISPO Basics

We want to simultaneously raise funds for the continuation of Profila, reward our loyal followers, and increase awareness in light of our platform’s proximity to public release. As such, we will both be running our own pool as well as delegating tokens to a select few community pools.

This allows us to achieve all of our goals whilst remaining fair to the Cardano community.

We allocated 15.000.000 tokens to be distributed via the ISPO, which constitutes 3% of the total supply of $ZEKE.

As announced earlier this month, Profila will partner up with Stake Pool Operators (SPOs), that will have an active role in the distribution of a portion of the tokens allocated to the ISPO.

We set the number of partnering pools up to 5. 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.

ZEKE REWARDS

How ZEKE Rewards are Calculated ?

Profila are using a simple reward structure that enables participants to be involved with little or a lot of ADA. Participants that delegate early will maximize their rewards.

💡 In addition to the below rewards, delegators can receive additional rewards if they qualify for our bonus program.

Based on how long you stake, how much you stake, or if you have one of our coveted ZEKE NFTs, you can qualify for the program.

💡 The Bonus Reward Program applies ONLY to delegators in Profila’s own pool, not to community pools.

How does it work?

750,000 extra ZEKE rewards will be shared between all participants eligible for bonus rewards. We have two core types of bonuses, one in relation to staking, and one in relation to our NFTs. Here’s how the reward allocation is split:

NFT Bonus

Profila has previously run activities such as our Treasure Hunt or our collaboration with Revuto in which people have won/received NFTs for their participation. These NFTs have a multiplier bonus during the ISPO.

NFT Type

These NFTs act as a true multiplier to the ZEKE rewards that delegators earn. This means that they double the rewards earned.

💡 There is a maximum effect of these multipliers. Delegators can earn a maximum of 7,142 bonus ZEKE. This will not affect the delegator’s ability to earn more standard rewards.

Staking Bonus

The amount of rewards is governed by a weighting factor, which ensures that top categories receive proportionally higher rewards than lower categories.

For example a 2W reward will always be 2 times larger than a 1W reward. It does NOT mean it doubles your standard ZEKE rewards like the NFT Bonus. Your bonus reward is not related to how much ZEKE you accumulated, but instead on how many people qualified in the Staking Bonus Program and which weighting factor you got. See equation and example below for more details.

Criteria

The following is the governing equation

1W Qualifier reward = Total number of ZEKE / # of 1W qualifiers + (2x # of 2W qualifiers)

In this case, 1W = 1126.51 ZEKE, so 2W = 2253.03 ZEKE

(1126.51 x 97) + (2252.03 x 240) = 650,000 ZEKE

How many ZEKE tokens are rewarded per epoch?

The amount of ZEKE rewarded per epoch depends on whether delegators stake to the Profila pool or with one of the community pools taking part.

Profila Run Pool

1 ADA staked = 0.008 ZEKE rewards per epoch

For every ADA staked 0.008 ZEKE will be rewarded per epoch

Community Pools

1 ADA staked = 0.003 ZEKE rewards per epoch

For every ADA staked 0.003 ZEKE will be rewarded per epoch

Total ISPO rewards = 15,000,000 ZEKE (3% total supply)

ISPO Rewards = 14,250,000 ZEKE

Bonus Rewards = 750,000 ZEKE

What if the 15 Million ZEKE is not reached by the end of the ISPO?

The remaining ZEKE will be used for further incentives.

ZEKE DISTRIBUTION

When will $ZEKE tokens be distributed?

Currently, there are no $ZEKE tokens in circulation. $ZEKE tokens earned through the ISPO will be distributed following a linear 4-month vesting schedule starting after our Liquidity Event (ending on July 5, 2024).

How to claim your ZEKE?

We’re partnering with Dripdropz for the distribution of your ZEKE rewards. Once the ISPO is complete, you can visit the platform in order to claim your tokens.

Distribution will happen as follows:

• Total amount of rewards earned split into 4 payments
• First portion available 1 month after our LBE with Minswap

To claim your tokens:

1. Please go to the DripDropz site under the “Drip it” tab (as from August 5, 2024 the earliest).
2. Paste your wallet receive/stake address in the search bar and click the “Check my Dropz” button. This address should be from the same wallet you used in the Profila ISPO.
3. DripDropz will query the blockchain and display all the ZEKE tokens your wallet is qualified to receive. The claimable amount, which is based on the ISPO 4-month linear vesting schedule, will only be updated on DripDropz for the start of each new epoch, so if you have already claimed the available amount you will need to wait until the next epoch to claim again.
4. Click “Claim my Dropz”. The DripDropz app will show the Ada cost to complete the withdrawal along with minUTXO returned to you with the tokens.

For more information on how DripDropz works, please check out their website here

What happens if the $ ZEKE allocated to the ISPO is not distributed in the 10 epochs?

Any remainder tokens from the 3% allocated to the ISPO and not distributed in the 10 epochs will be allocated towards our Liquidity Event.

What happens if the $ ZEKE earned through the ISPO are not claimed within 6 months after the LBE?

Any remainder tokens from the 3% allocated to the ISPO that are not claimed through DripDropz within 6 months after the LBE close, will automatically go back to Profila’s Ecosystem rewards and development pool.

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