ISKRA Token

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Discover ISKRA Token's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is ISKRA Token?

ISKRA Token (ISK) is the native cryptocurrency of the Iskra platform, a blockchain gaming hub that connects gamers and game studios. It serves as the key currency for all services within the ecosystem, including transaction fees, and provides governance power to holders who can propose and vote on initiatives. Additionally, it can be used to purchase Pioneer NFTs and is rewarded to community participants.

How is ISKRA Token used?

The ISKRA Token (ISK) is the native token of the Iskra ecosystem, a blockchain gaming hub that connects gamers and game studios. ISK has three key utilities:

  1. Exclusive Currency for Pioneer NFTs: After the 10,000th Pioneer NFT is sold, all remaining Pioneer NFTs are only available for purchase with ISK.

  2. Governance Token: Holders of ISK have the right to propose and vote on initiatives and policies that affect the entire Iskra community, ensuring governance power.

  3. Key Currency: ISK serves all purposes within the Iskra ecosystem, including exchanging other assets, paying for transaction fees, and charging for various services. It is used for all types of services provided within the platform.

How do I store ISKRA Token?

To store ISKRA Token (ISK) tokens, you can follow these steps:

  1. Store on MEXC Account Wallet: After buying ISKRA Token (ISK) on MEXC, you can hold it in your MEXC Account Wallet.

  2. Add to Trust Wallet: You can also add ISKRA Token to Trust Wallet by searching for it using the search bar and following the step-by-step guide.

These options provide secure storage for your ISKRA Token (ISK) tokens.

How to buy ISKRA Token?

To buy ISKRA Token (ISK) tokens, follow these steps:

  1. Choose a Reliable Exchange: Find a trustworthy centralized exchange, such as Binance or MEXC, where you can purchase ISKRA Token.

  2. Fund Your Account: Ensure your account is funded with the necessary cryptocurrency or fiat currency to make the purchase.

  3. Search for ISKRA Token: On the exchange's marketplace, search for "ISKRA Token" (ISK) to access the token's trading page.

  1. Initiate the Purchase: Click on the "Buy Crypto" or "Buy ISKRA Token" link, and follow the exchange's instructions to complete the transaction.

Additionally, you can also use ISKRA Swap or buy ISK/Klay on an exchange to facilitate purchases on the Iskra Market, which currently only supports ISK tokens for payment.

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History of ISKRA Token

ISKRA Token (ISK) is a cryptocurrency that launched in August 2022. The first recorded exchange rate was $0.2317. Since then, the token has experienced significant price fluctuations. The lowest price recorded was $0.1257 in June 2024, while the highest price reached was $0.3376 in May 2023.

In its first year, the ISK price closed at $0.2294, which is 98.98% up from the open. The best year for ISKRA Token was 2023, with an average price of $0.2429. The price closed at $0.1928 after reaching a maximum of $0.3616.

ISKRA Token is a native token used within the Iskra ecosystem, a blockchain gaming hub that connects gamers and game studios. The token has three primary utilities: it is the exclusive currency for buying Pioneer NFTs, it serves as a governance token, and it is used for various transactions and services within the platform.

The token's market capitalization and trading volume have also varied over time. As of June 2024, the market capitalization was around $11,107,331, with a 24-hour trading volume of $143,007.

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How ISKRA Token works

The ISKRA Token (ISK) is the native cryptocurrency of the Iskra web3 gaming platform. It serves as the key currency for all services within the ecosystem, including the Bridge, DEX, Marketplace, Stable Swap, Launchpad, and Wallet. The token is used for various purposes such as paying transaction fees, service fees, and other charges within the platform.

Tokenomics and Governance

The total supply of ISK tokens is 1 billion, allocated among the Iskra team, token sales, ecosystem fund, Pioneer NFT rewards, and governance staking rewards. The token economy is designed to maintain and increase the value of the ISK token through mechanisms like governance staking, token burn, and rewards distribution.

Governance staking allows holders to participate in determining the direction of the platform by proposing and voting on initiatives and policies. Staking ISK tokens also rewards holders with additional tokens from the Governance Staking Reward and Community Rewards Pool. This incentivizes community engagement and contributes to the overall growth of the platform.

Ecosystem Services

The Iskra ecosystem offers several services that utilize the ISK token:

  1. Launchpad: A platform for digital asset distribution, connecting projects with early supporters in the web3 ecosystem.
  2. Decentralized Exchange (DEX): Enables users to exchange game tokens for ISK or iUSD and vice versa in a decentralized manner.
  3. NFT Marketplace: Consists of Primary and Secondary Markets, allowing game studios to initially offer NFTs and gamers to trade them freely.
  4. Bridge: A secure connection between the Iskra Hub Chain, game chains, and external blockchains, facilitating interoperability within the ecosystem.
  5. Wallet: A centralized repository for storing digital assets securely and accessing all services and games on the platform.
Obtaining ISK Tokens

ISK tokens can be obtained through various means:

  1. Pioneer NFT: Holders of the Pioneer NFT can earn ISK tokens as rewards.
  2. Exchanges: ISK tokens can be bought on centralized exchanges (CEX) and decentralized exchanges (DEX).
  3. Community Participation: Participating in the community and engaging in governance staking can earn additional ISK tokens.

Overall, the ISKRA Token is a critical component of the Iskra web3 gaming platform, facilitating transactions, governance, and community engagement within the ecosystem.

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ISKRA Token's strengths

The ISKRA Token (ISK) has several strengths that make it an attractive investment opportunity:

  1. Governance Power: ISKRA Token holders have the right to propose and vote on initiatives and policies that affect the entire Iskra community, giving them a say in the platform's direction.

  2. Multiple Utilities: $ISK serves as an exclusive currency for buying Pioneer NFTs, a governance token for platform decisions, and a key currency for exchanges and payments within the Iskra ecosystem.

  3. Staking Rewards: Staking $ISK rewards holders with 20% of total $ISK according to the token distribution plan, and also earns Contribution Points (CP), which increase the community tier and share of the Community Rewards Pool.

  1. Tokenomics: Iskra's tokenomics are designed to discourage pumping and dumping, incentivizing long-term staking and holding. The platform also burns 20% of all revenue from platform fees to reduce the token supply.

  2. Blockchain Gaming Hub: Iskra connects gamers with game studios, offering a platform to explore blockchain games and build communities. It features a Launchpad for discovering new game projects and facilitates trading of in-game tokens and NFTs.

These strengths position ISKRA Token as a valuable asset within the blockchain gaming space, with a robust governance structure and multiple use cases.

ISKRA Token's risks

ISKRA Token (ISK) is considered a high-risk investment due to its significant volatility. It is important to have a high tolerance for risk before investing in this cryptocurrency. The value of ISKRA Token can potentially increase in the future, but it is also subject to high market volatility and risks.

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Did ISKRA Token raise funds?

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ISKRA Token’s team

  • Eugene: CEO of Iskra, with experience in launching two blockchain projects and serving as a technical executive in Icon, a project dubbed the 'Korean Ethereum'. He also helped create the LINE blockchain project (LINK), which is the blockchain product of LINE, Asia's #1 messenger platform.

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