Published on: 06/02/2024
Unleashing Billions: DEGAs Revolutionizing Step for Crowdfunding with LIDO
In an industry-first event, DEGA™, a prominent name in blockchain game development tools, will be launching their pioneering crowdfunding technology through a unique integration with LIDO on February 7th. This initiative is set to unlock an astounding $21B of capital for crowdfunding.
DEGA™ have taken a proven methodology, the Initial Stake Pool Offering (ISPO), and adapted it to suit the Ethereum blockchain. The ISPO concept allows early adopters to support new projects by delegating tokens, such as ETH, towards the project’s stakepool. These contributions are secured by smart contracts in return for the projects token.
This Ethereum ISPO marks a significant moment as DEGA™ takes the initiative of offering its $DEGA token launch through this crowdfunding method. Participants will stake their ETH via LIDOs $stETH, and in return, are rewarded with the deflationary utility token, $DEGA. This move marks a promising venture for both DEGA™ and the entire Ethereum ecosystem as it helps in further decentralization of staking.
The DEGA™ development has acquired not only wide recognition but also appreciation from industry stalwarts. Andrew Vermouth of the Ethereum Foundation endorsed DEGAs noble intent of facilitating participation from under-resourced global regions, which he believes will galvanize user-adoption beyond the developer-centric perspective.
To ensure the success of this groundbreaking deployment, DEGA™ joined forces with MELD Finance, known for its momentous ISPO experience, accumulating more than $1 billion worth staked Cardano. This partnership aims to draw from the success of MELD’s previous ISPO, driving similar success for the DEGA™ launch.
Once the ISPO is deployed to game builders on DEGA’s platform, the DEGA community is expected to gain access to an expansive array of gaming tokens. Furthermore, the ISPO technology will also be repurposed to facilitate ETH yield utilization as a Web3 subscription method.
Carlos Rene, CEO of DEGA™, emphasized the win-win result of combining innovative game development tools with a robust crowdfunding mechanism, claiming that the DEGA ecosystem will be the go-to spot for early access to Web3 gaming projects.
In the cryptocurrency market, this innovation is not only groundbreaking but also indicative of the increasing value and potential of ISPOs for early adopters and investors. The wider adoption of ISPOs could signal further decentralized staking across the Ethereum ecosystem as well as other platforms, driving greater inclusivity, diversification, and community-building in the blockchain realm.
From an investors perspective, this may also mean increased opportunities and potential rewards for these who support (i.e., stake) new and upcoming projects. Overall, the success of DEGAs ISPO could trigger broader market movements and increase sentiment toward similar crowdfunding methods.
Ultimately, only time will tell how impactful DEGA’s step towards decentralization will be. However, the indications are clear: its a big leap forward for the Ethereum ecosystem, which could mark the start of global revolutionizing changes across the landscape of tech innovation and crowdfunding methodologies.