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12/05/2023

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Metera’s ISPO is Live

The ISPO was carefully designed in close cooperation with Maestro and took in consideration valuable feedback from Meteran enthusiasts and members of the wider Cardano community.

Metera’s ISPO is Live

The ISPO was carefully designed in close cooperation with Maestro and took in consideration valuable feedback from Meteran enthusiasts and members of the wider Cardano community. Together we worked towards a design with fairness at its core, that is reflected in the valuation subjacent to the $METERA token and the funds to be raised for the next stages of development, but also in the project share allocated to the community and the selected methods of token distribution.

The ISPO will last 42 epochs, starting on epoch 451 and will end on epoch 493 on the main pool “MTERA”. In the first week the pool has received over 13M + ADA delegated. 

First $METERA rewards will be calculated once your delegation is counted as “Active Stake”.

Following the tokenomics described in the litepaper, we allocated 90,000,000 tokens to be distributed via the ISPO, which constitutes 9% of the total supply of $METERA. As announced earlier this month, Metera has partnered with Single Stake Pool Operators (SSPO’s), which will have an active role in the distribution of a portion of the tokens allocated to the ISPO.

We raised the partner pools’ token allocation proposed initially from 3% to 10%. This increase shows our commitment to the Cardano community and honours the interest shown in our ISPO. Throughout its duration, in each epoch 10% of the $METERA token rewards earned in the main pool will be allocated for distribution among the delegators staking in the partnered pools. $METERA rewards will then be calculated according to the ADA staked by each delegator relative to the total ADA staked in all the partner pools collectively.

In the stake pool operated by Metera, the variable fee will be raised to 99%. Delegators will earn $METERA tokens at an increased rate but will not receive their regular ADA staking rewards. In this pool, delegators will earn tokens at a base fixed rate of 0.0167 $METERA per ADA staked per epoch, which is to say that delegators will earn 1 $METERA token per 60 ADA staked per epoch.

$METERA Fixed rewards formula

ISPO BOOSTS

Time Tiers: we believe that it is important to reward long-term support from our delegators and, as such, delegators staking for a long period will unlock a retroactive bonus. Delegators staking at least 1000 ADA for 20 epochs (Tier 1) will earn an additional 16% bonus, while delegators staking for longer than 35 epochs will earn an additional 32% bonus (Tier 2).

Effectively, this increases the rewards to a rate of 0.0193 (Tier 1) or 0.0220 (Tier 2) $METERA per ADA staked per epoch, which is to say that delegators will earn 1 $METERA token per 51.7 (Tier 1) or 45.5 (Tier 2) ADA staked per epoch. The bonuses are calculated from the base reward rate.

ADA Staked Tiers: we also seek to reward our delegators according to their support in terms of ADA committed to the ISPO. For this, we defined three Tiers of ADA that unlock retroactive bonuses after being staked in the ISPO for 20 or more epochs. Delegators staking 15,000 ADA (Tier 1) will earn an additional 8.30% bonus. Delegators staking 50,000 ADA (Tier 2) will earn an additional 16.59% bonus, while delegators staking 75,000 ADA (Tier 3) will earn an additional 25% bonus. The bonuses are calculated from the base reward rate.

In summary, staking in the ISPO for 20 or more epochs unlocks both the long-term bonus of 16% (Tier 1), or 32% after 35 epochs (Tier 2), and the large delegation bonuses of either 8.3% (Tier 1), 16.59% (Tier 2) or 25% (Tier 3).

MeteraNFT Tiers: we will also reward Meterans. As promised, the number of tokens granted by the Metera Black, Metera Blue and Metera White NFT’s will be boosted upon participation in the ISPO. This will be done in partnership with VyFinance and recurring to its staking vaults. Wallets delegating 1000 ADA or more for at least 20 epochs in the main pool of the ISPO, that lock Metera NFT’s for 20 epochs in the VyFinance vault, will enjoy a 40% bonus to the number of $METERA tokens granted by each NFT. Metera Black will yield an additional 440,000 $METERA, Metera Blue will yield an additional 3,250 $METERA and Metera White will yield an additional 2,580 $METERA.

VyFi vaults are now live.

This boost is only available for users that stake in the main pool of Metera’s ISPO. Delegation towards our partner SSPOs will not count towards this boost.

When will $METERA tokens be distributed?

Currently, there are no $METERA tokens in circulation. $METERA tokens earned through the ISPO will be distributed following a linear 6-month vesting schedule starting after our Liquidity Event.

What happens if the $METERA allocated to the ISPO is not distributed in the 42 epochs?

Any remainder tokens from the 9% allocated to the ISPO and not distributed in the 42 epochs will be allocated towards our Liquidity Event.

Socials: 

Twitter: https://twitter.com/MeteraProtocol 

Discord: https://discord.gg/wDYbYEJ9 

Website: https://metera.io/ 

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