$PALM ISPO 2.0
Introduction
We are pleased to announce the next phase of the PALM ISPO (Initial Stake Pool Offering) 2.0. With a renewed focus on efficiency and community standards, we have taken over full management of our stake pools, supported by a team of highly experienced current and former Stake Pool Operators (SPOs). This will ensure the pools continue to operate smoothly and meet the highest performance standards.
As part of this transition, the Palm2 stake pool will be retired. If you are currently staking with Palm2, we kindly ask that you move your stake to Palm1, one of the Community Stake Pool, or another pool of your choice. The Palm2 pool will be set to retire on December 15th at the end of epoch 527.
Palm1 will remain set with a 99% margin, and delegators will have the opportunity to claim $PALM
tokens in exchange for their $ADA rewards following the Token Generation Event (TGE). If you are already staked to PALM 1 and wish to stay there no action will be required.
Afterward, delegators will be able to claim their rewards weekly through a dedicated service that we’ll be announcing in the future.
The ISPO will continue until all allocated tokens are distributed, ensuring a fair and ongoing distribution process for all participants.
The ISPO 2.0 will offer a total of 150,000,000 $PALM tokens, specifically for PALM1 participants. Additionally, 7,500,000 $PALM tokens are allocated for distribution to those who stake with the community pools, providing further opportunities for the community to participate in the Palm Ecosystem.
During the ISPO 2.0 the rate at which the PALM1 stake pool will earn palm tokens will be at a 3% discount to the market price of the PALM token of their ada rewards.
Example: Lets pretend market value of PALM hits 1 ADA – My staking rewards should be 1 ADA – I would earn 1.03 $PALM
tokens.
This value of $PALM will change based off market price. The community pools will earn at a rate of 2.5% for their ada rewards earned. IE. My ada rewards are 100 ADA, I would earn 2.5 Ada worth of PALM tokens.
ISPO 2.0 Start date is December 15th at the end of EPOCH 527
Key Highlights of Palm ISPO 2.0
- New and Improved Stake Pool Structure: Several experienced Stake Pool Operators (SPOs) are a part of the Palm team to ensure the stake pools operate efficiently and meet community standards.
- Transition to Single Stake Pool: In line with our decentralization goals, we will focus on one single stake pool—Palm1. The Palm2 stake pool will be retired, so if you’re currently staked in Palm2, please move your delegation to Palm1, one of the community pools, or any pool of your choice.
Stake Pool Details: - Palm1 will have a 99% margin.
Delegators will earn PALM tokens after the TGE (Token Generation Event) and can claim their rewards weekly via our claimable service to be announced at a later date. .
- Community Pools: In support of decentralization, we have introduced four community-run pools. These pools will not be subject to the 99% margin applied to Palm1 and will operate with the margins set by the pool operators.
Community Pools
- Dave
- Malu
- Pride
- Clovr
Community Pools: A Focus on Decentralization
Decentralization is at the core of our values. We believe that shifting our focus to one main stake pool while also supporting community-run pools is essential to achieving this goal.
Why Community Pools?
- Distribute stake across the network.
- Encourage community involvement and reward contributors.
- Strengthen the overall security and health of the blockchain ecosystem.
Token Allocation for Community Pools: A specific number of PALM tokens have been set aside to reward delegators to community pools. These tokens will be distributed until the allocated supply is exhausted.
Why Join Palm ISPO 2.0?
Decentralization: By participating, you help secure the Cardano network while contributing to a more decentralized ecosystem.
Rewards: Earn PALM tokens that represent a stake in the future of the Palm Economy. These tokens can be used to access platform rebates, governance, and more.
Support the Palm Community: Your delegation not only earns you rewards but also supports the growth and success of the Palm Economy.
How to Participate in the Community Pools ISPO
Delegate Your ADA: Use your preferred Cardano wallet to delegate your ADA to one of the four community pools.
Earn Rewards: You’ll receive both PALM tokens and ADA rewards when delegating to these pools, though the PALM token rewards will be lower than those of Palm1.
Stay Informed: Follow our official channels to keep up with the latest announcements regarding token distribution and timelines.
Frequently Asked Questions (FAQs)
What is an ISPO?
An Initial Stake Pool Offering (ISPO) allows ADA holders to delegate their ADA to a specific stake pool and receive project tokens—in this case, PALM tokens—instead of ADA rewards. This method provides a decentralized way for projects to bootstrap network security and incentivize community involvement.
The TGE is when the project will generate and release its tokens to the public. After the TGE, delegators can claim their PALM tokens.
Can I stake to a community pool and still earn PALM tokens?
Yes, you can stake to one of our four community-run pools and still earn PALM tokens, along with ADA rewards. However, the PALM token reward rate will be lower than if you stake with Palm1.
How do I claim my PALM tokens?
After the TGE, you will be able to claim your PALM tokens weekly through a claimable service provided by Palm Economy at a later date.
The ISPO will continue until all the PALM tokens set aside for distribution are fully distributed. Follow our official channels for updates on the timeline.
Use our PALM 1 and PALM 2 reward calculators to estimate your earnings.
For more information about the ISPO, click the link below.