Cardano is, without a doubt, a megaproject.
The project promises so much, and things are beginning to come together following the activation of smart contracts a few months back.
Already, Cardano is by far the most decentralized proof-of-stake network. With the activation of smart contracting, the public network is functional and set to be one of the most influential chains that would shape crypto and blockchain.
What is Flickto?
Flickto—a company backed by a registered company in England, Flickto LTD, has recognized the potential of Cardano and is launching their solution on the secure, scalable, and meticulously designed ledger.
The project is setting its eyes on the multi-billion-dollar media industry and wants to leverage the power of the community to change how content creators—both entities and individuals—receive funding.
Specifically, Flickto looks at funding content creators in diverse specialties—be it in documentaries, shows, or fiction films—who initially had no access to funding due to walls existing in traditional financing setups.
As a media launchpad, the project will utilize innovations brought by the blockchain. With Goguen and smart contracting, it is now possible to launch dApps on the Cardano blockchain. Additionally, Cardano supports token staking. It is a feature that will be key to Flickto as far as fundraising is concerned. By settling on Cardano, individuals will be able to stake their ADA in one of Flickto’s supported pools and be rewarded accordingly.
However, it is possible to utilize Cardano’s native tokens that are even more attractive. Using this capability in Cardano, it will be possible to grow its community by rewarding users while allowing the project developers to work on their smart contracting ability.
Subsequently, the Flickto project is launching tokens compliant with the standards set in Cardano. Central to Flickto will be the FLICK token that primes the Flickto ecosystem. Besides its practical function, token holders will also have the right to vote on exciting projects.
FLICK Tokens: Details
FLICK will list on various centralized and decentralized exchanges.
As such, users who acquire the token in the ongoing private sale stand to reap maximum benefits from the expected capital gains. It is because Flickto is solving a pressing problem. Therefore, its tokens are valuable as they further provide a pass to the expanding Cardano community.
According to Flickto, the Private Sale is in progress and concludes by late November 2021. The sale is open to individuals and accredited investors who wish to invest more than $500 to purchase FLICK, helping make a project a reality.
FLICK token holders can also receive NFT airdrops from media projects utilizing the Flickto launching pad. Thus far, Flickto has completed two major airdrops for eligible token holders.
Being a user-centric project, FLICK holders receive a share of the project’s profit distribution program while freely consuming media content from projects they assisted in funding.
On the other hand, content creators using the Flickto launching pad will trustlessly gain access to funds from the community and even receive direct feedback from the community considering their plans.
In all, the Flickto launchpad will be a game-changer for content creators across the globe. From launch, the Cardano-based project aims to empower content creators and simultaneously create a collaborative environment where participants reap the rewards.
Initial Stake Pool Offering (ISPO) to Distribute 2 Billion FLICK Tokens
For sustainability, the project is tapping the staking capability offered by the Cardano blockchain to implement their Initial Stake Pool Offering (ISPO) model. The development team settled on this mode of project financing since it also allowed for delegation. There will be a total of 5 billion FLICK tokens.
Two billion are locked in the ISPO and will be distributed to ADA stakers. Thus far, there are over one million active ADA staked from more than 200 delegators since launch on November 1.
In the primary phase that will last 32 Epochs through to April 10, 2022, the base reward is set at 0.15 FLICK per ADA stake per Epoch. Token vesting will begin on January 5, 2022, where the project will vest 10 percent of the total accrued tokens. Afterward, from May 5, 2022, the total vesting percentage will rise to 20 percent.
In the secondary phase, the reward ratio will reduce every Epoch until all FLICK tokens are distributed. The reduction ratio will vary from 0.01 to a minimum of 0.02. Once the token distribution is complete, their ISPO dashboard will indicate available reserves.