Flickto Closes Private Sale, Achieves Overwhelming ADA Stake Results
Flickto, a Cardano-powered community media launchpad, is closing its Private Sale round today, 25 November 2021.
The project aims to change how today’s media projects are produced and financed. Using the FLICK token as the means of exchange and voting/staking, Flickto plans to empower content creators by funding projects chosen for investment by the Flickto community.
For the first time in the Cardano blockchain system, anyone can be a part of and fund media projects, and later on, profit from them.
To finance potential media projects, Flickto uses the ISPO model. Initial Stake Pool Offering (ISPO) is a unique way of collecting funds in the Cardano ecosystem. Users who own Cardano’s native currency ADA, can stake it into stake pools. In turn, the stake pool owner will provide an exciting benefit for the stakers.
Meanwhile, Flickto intends to take advantage of the perks of the ISPO model and spice things up. When users place their ADA coins in Flickto’s ISPO, they will be funding both the Flickto and media projects as voted for by the Flickto community.
Users can earn FLICK tokens as a reward for staking their ADA and have the opportunity to vote for their favorite media projects. Not only that, but they will also have the right to receive distribution royalties of successful media projects.
In addition, users will have access to exclusive NFTs – which can be monetized. Compared to the traditional ISPO model, there are a lot more ways for users to earn rewards.
Since its launch on November 1, the project has achieved significant growth with around 200 pool delegators and more than 1 million ADA in active stake. Furthermore, Flickto has already made 2 NFT airdrops to its eligible community members.
In other news, Flickto has announced its first media advisors. According to them, they are proud to have acclaimed directors and producers Ben Morris and Geraint Harvard Jones on the team. “As Director & Production powerhouses with decades of combined experience on some of the UK’s favourite TV shows & short films, we can’t wait to use their skills to support the media projects we fund through to success,” they added.
Likewise, further details of the Primary ISPO Phase are as follows:
Start: EPOCH 300 (1 November 2021 | 21:45 UTC)
End: 32 EPOCHs (10 April 2022 | 21:45 UTC)
Base reward: 0.15 FLICK per active ADA Staked per EPOCH
Vesting: 5 January 2022
Note: The minimum active stake per EPOCH that is to be counted is 10 ADA. Flickto will distribute awards at the primary phase, with no claiming needed. Regardless of pool performance, FLICK will be earned. An Active Stake is also used for all calculations.
Consequently, the Secondary ISPO Phase is already scheduled:
Start: EPOCH 332 (10 April 2022 | 21:45 UTC)
End: When all FLICK tokens have been distributed
Base reward: The same 0.15 FLICK in the Primary Phase, but with a reduction factor of 0.01 FLICK every EPOCH to a minimum of 0.02 per ADA staked.
Vesting: Immediately, through claiming available every EPOCHNote: Tokens can be claimed for a year after the EPOCH in which they were earned. All unclaimed tokens shall be transferred to the treasury.
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