INITIAL POOL STAKE OFFERINGS IN CARDANO: Hosky Token
This article is a subsection of a larger article “INITIAL POOL STAKE OFFERING IN CARDANO: a critical overview”
- This is not financial advice. I have no training whatsoever in the finance sector and I am in no way or capacity a licensed financial advisor.
- I recently became an ambassador for Flickto, which is also running an ISPO.
Hosky Token — reviewed by Hans [SEA]
Meme ISPO’s matter! There are other meme coins organizing ISPO’s, but I simply did not go through them. This is not favoritism to Hosky token, it just happened to be on my radar. For a project that aims to rug its community, the Hosky token team seems to be doing a fairly good job at running an ISPO. Wen rug?
The launch was somewhat dubious in the sense that the starting date was not exactly clear, as much of the information about this ISPO is scattered throughout a multitude of announcements in their discord channel. In all fairness, the team put up an innovative model that not only added utility to the project’s NFT’s, but also constituted an elegant way to allocate stake somewhat evenly to the different community pools running the ISPO. The NFT’s weight on the rewards has been progressively decreasing during the ISPO, but essentially each NFT is subject to a loyalty multiplier that reaches 2x after 5 epochs or 4x if the fur matches the pool. Seems complex, but in practical terms, if delegators simply hold the NFT’s their contribution to the rewards becomes negligible, as everyone will be subject to the same bonuses. Only the number of NFT’s will be a factor.
Despite being a meme ISPO, there is one aspect in which Hosky undoubtedly beats the other projects. The clarity on the snapshots is exceptional and much appreciated. Delegators know exactly which periods are considered and are warned in a timely manner. The other projects could honestly use a lot of this. Not only is it unclear in many cases, as in some cases the timing of snapshots has been changed throughout the ISPO’s. The rewards calculator is very artisanal but transparent, showing the contributions of all wallets.
It took over six months of closely following ISPO’s to put this together and ultimately for the benefit of the whole Cardano community. Please contribute. Funds raised will be used to buy an engagement ring. Wish me luck!