There are just so many new projects launching regularly that it is hard to keep pace. There are also a lot of forks and bad projects launching, meaning that actually finding a gem can be very hard. But, with the release of Kassandra DAO, we believe that the Avalanche blockchain is about to get inhabited by a VERY interesting project! They will run their IDO on PenguinFinance sometime in January, and this might actually become really hot!
When you have been looking at and following projects for a long time that have been released without any big idea or developers, then it feels like a breath of fresh air to read about Kassandra DAO. This is a project that has been prepared for more than half a year (which feels like ages in crypto), and they have been publishing Medium articles about their product for a long time. But, instead of launching with nothing, they are actually working hard to launch with a product that is ready, and not only ready but with a code that has already been certified by Certik. In other words, they are doing things in the correct order (which also comes as a breath of fresh air).
The Kassandra DAO IDO on PenguinFinance
The Kassandra DAO IDO will be held on PenguinFinance early in January 2022. This is a platform that requires no KYC, the only requirement is that you hold a certain amount of iPEFI on the platform. During the last launchpad project (BinaryCat) the minimum requirement was 500 iPEFI which is equivalent to approximately 650 PEFI tokens which have a total value of $650 at the time of writing. First, you buy PEFI tokens and then you stake them on PenguinFinance (which will turn them into iPEFI). You can then just register to be a part of the IDO when it is announced and later buy the actual amount of tokens that you are entitled to.
When the IDO is finished, you will be able to buy your $KACY tokens with PEFI tokens. During the last launchpad project, you could immediately start trading after you bought your tokens which made it very easy to either sell with profit at once or just store your tokens. We do not know yet if the Kassandra DAO IDO will happen in the same way, but it is very likely.
But, what is Kassandra DAO?
Kassandra DAO has a quite brilliant concept that makes it very interesting. Upon launch, they are expected to start with one INDEX in which people can buy a share. This is quite similar to the concept used in ETFs. But, what is it really?
The first index that will be launched on Kassandra DAO is their so-called “Avalanche Social Index.” This is made in cooperation with Heimdal, a tool created to measure social activity. In other words, this is an index that will follow social activity (Twitter, Google searches, and more), and based on the results, it will report to the index about what is worth and hyped right now. This will influence the balance between the included tokens in the index.
But, which tokens can be included in the Avalanche Social index?
Are you afraid that the index will be packed with crappy tokens? You shouldn’t, because they are also using the concept of a whitelist. Only whitelisted tokens can be included in the social index, but not all whitelisted tokens will be included. From the first second, the following tokens will be included: AVAX, JOE, PNG, QI, YAK.
Future tokens to be included will be decided through voting (governance), meaning that KACY holders will be able to influence the actual tokens that can be included in the index.
It is also important to understand that social activity and influence don’t mean just the amount of Tweets a project will receive. In fact, 20 Tweets from accounts with little or no interaction don’t really impact a thing, while tweets from influencers with lots of comments, likes, and retweets will have a bigger influence. And if Elon Musk should mention a project, that will for sure make the social engagement counter explode. The tool will also follow the number of Google searches and trends in order to discover social activity around a project.
If you want to buy a part of such an index you will need to own at least 5% of the value in KACY tokens. When you decide to invest in the Avalanche Social Index, you will receive AHYPE tokens which kind is similar to LP tokens that you receive when you enter a liquidity pool. They will always guarantee your ownership of the index.
Will we invest in Kassandra DAO?
Of course! This is actually a project that we like the sound of. In fact, it sounds tempting just to invest in an index (more will be added later) and leave it there. After all, the actual contents of the index is ever-changing, meaning that the goal of the index is always to keep the best tokens in it. Instead of doing all the research yourself, you can invest in the index and hope that it will moon.
We might actually do that, but first we need to be a part of the IDO and then wait for the actual launch of the platform.