On Dec. 15, Genius Yield, a decentralized automated market maker and liquidity management protocol built on the Cardano (ADA) blockchain, announced the launch of its initial stake pool offering, or ISPO. The process will continue for six months until June 15, 2022. At the time of publication, more than 95.8 million ADA, worth approximately $118 million at the time of writing, have been delegated to the stake pools.
In an ISPO, blockchain enthusiasts delegate their cryptos in a protocol and receive tokens of the new project they fund as rewards, instead of receiving regular ADA staking rewards, which goes to the developers. Investors can reclaim their staked cryptos at any period. By utilizing this method, investors not only harvest yields, but keep their initial investments secure as pool operators do not possess control over delegated funds.