Staking on ADA, Get Rewarded with other Bonus Tokens (FISO)

By lasthero | Everyday Father | 23 Aug 2021


Its hard to ignore by now but if you haven't noticed ADA (Cardano) has taken off recently to the stratosphere whether that continues we'll all need to obviously wait to see.  However its undeniable that ADA (Cardano) has been a force to be reckoned with. 

 

Those however who are new to the ecosystem should know that just like some other proof of stakes out there or some other cryptos, you can actually stake your cryptocurrency to generate some passive income.  I won't go into too many specifics of how this is done as there are plenty of other more well informed and frankly way more articulate posts out there where you can get this  information. 


What this post is for is something unique that I just learned recently about some of the ADA projects out there.  For those living under a rock, ADA has committed recently to launch their smart contract by mid Sept, Sept 12 to be exact and this opens up a bunch of fresh new possibilities out there.  One of the unique projects I've learned about is Minswap.  One of DEXs that are planned to be launch with ADA's smart contract launch.  While DEXs aren't anything new, the unique thing about this one is how they plan on doing their version of an ICO.

 

They will be doing something called a FISO (First Initial Stake Offering), what this means is you can stake your tokens with a delegate of their choosing to receive some of their native dex currency called MIN.  This is the first time I've ever heard of such a process and it seems really cool, so not only are you making some ADA from staking but you're also getting some of the native dex currency that will be launching.  Seems like a win/win to me.

 

On top of this, these delegates were chosen from a pool of the smaller pools out there.  By doing so they envision a world where ADA is actually more secure by decentralizing the delegates that are involved with securing the network.  At the same time giving a 25% bonus MIN tokens for those that stake with the smallest pool on their list of available pools.  There is a whole other slew of information out there with Minswap that makes this FISO a bit more equal to all participants as well (ie. whales are given less mintokens depending on a formula).

 

I find this way of getting people to participate in the ecosystem way more fascinating and fair than ICOs where really only the extremely wealthy would get a chance to participate most of the time.  Check out more of Minswap here: https://docs.minswap.org/faq/fiso

 

 

 

 

 

 

And if you want to give swapspace a try and want to use my ref link:

https://swapspace.co?ref=8c7364ef237565f231b721e2

Binance Commission Kickback 10% each:

https://accounts.binance.com/en/register?ref=BKGIMOEM

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