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Genius Yield raises $118M via ISPO in first 48 hours
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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 fundraising 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 stake their cryptos in a protocol and receive tokens of the new project they fund as rewards. After a lockup period, investors can then reclaim their staked cryptos. By utilizing this method, investors not only harvest yields, but they also, on paper, get back their initial investments. Of
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