Degens can stake crypto to help the Ukrainian people

Cointelegraph Magazine

Laura K. Inamedinova is a marketing agency CEO from Lithuania who started her ICO early, a journey that led to the launch of UkrainianPool, an initial staking pool to raise funds for the Ukrainian government.

Inamedinova entered the ICO right out of college in 2016, and would not name the first crypto fundraiser she worked on. “There must be not only bad projects, but you didn’t know it at the time,” she explained, referring to the industry’s early days. “You didn’t know what was going on,” she said with a smile.

Inamedinova’s early entry into the industry may not have been successful, but after some more successful projects such as wave and CoinGate, her experience led to one of the most interesting developments: a humanitarian fundraising campaign with the Ukrainian government.

Laura Inamedinova creates Ukrainian swimming pools.

Ukraine swimming pool According to Cardano’s staking reward program, it is a Cardano staking pool that allows anyone to deposit Cardano into the pool, which grows by 5% annually. Inamedinova explained that this form of charitable support is virtually risk-free, as the staked tokens can be unstakes at any time and never leave the owner’s wallet. Inadinova explained:

“Every five days, the accumulated rewards are transferred to the wallet of the Ukrainian government.”

The project was made possible after Inedinova, a DeFi project approaching inclusion in the ISPO strategy, realized that staking pools could be used for charitable causes. She shared the idea with Nadiia Dvoinos, a serial entrepreneur who used to run Quadrate 28, an in-house marketing firm for startups. Inamedinova met her on her first visit to Dubai and described Dvoinos as a mentor.

Dvoinos got in touch with her former business partner, Valeriya Ionan, who is now Deputy Minister for European Integration at Ukraine’s Ministry of Digital Transformation. On March 8, a Zoom call was arranged with various government figures, and the Ukrainian pool was soon online.

Just 10 days after the conference call, Alex Bornyakov, Deputy Minister of Digital Transformation of Ukraine explain The New York Times project:

“Participants don’t need to donate assets directly to raise funds. Instead, they temporarily ‘stake’ their funds, which generates high-interest yields that move to wallets owned by our division.”

He added that, according to other ministry publications, the fund aims to raise $10 million “for humanitarian work” – such as food, medicine and protective equipment, including helmets and bulletproof vests.

“As far as I know, this is the first charitable project to use the ISPO model,” noted Inamedinova, referring to the original staking pool offering.

A publication posted on Twitter shows the ministry’s donations.Source: Ministry of Digital Transformation of Ukraine

LKI Consulting

inadinova run LKI Consulting, a team of 10 employees spread across Europe. “We have two Ukrainians; we just hired a refugee,” she noted.

The company returns to the blockchain marketing space on behalf of Inedinova. When we meet in an office overlooking the Yacht Club at Dubai Marina Mall, she recounts a meeting she had just left. “I had to sit for a full hour just to be polite, even though I knew within five minutes that it wasn’t going to work — these people didn’t even know what they were building,” she laments to her potential clients.

“The industry attracted me without a plan,” Inedinova recounts her return to the blockchain industry in 2020, having previously left her position as an initial coin offering advisor during the 2016-2017 bull market Charming life.

This time around, the cryptocurrency market is different, and the ICO funding mechanism is outdated, in part because most ICO investors lost money during the 2017 cryptocurrency bubble, during which anonymous teams raised tens of millions of dollars with just a white paper or A blurry slideshow will do.

Famous memes detail the number of ICOs.

DeFi project Meld sees an initial stake pool offering as an alternative, the project conducts a successfully Raised millions in October 2021 after 40,000 users staked over $1 billion in Cardano ADA. When discussing Melder’s success with a close friend in the early days of Russia’s invasion of Ukraine, they realized that “ISPO and Ukraine—these words make sense,” recalls Inamedinova. In addition to Inamedinova, the initiative includes Paulius Vaitkevičius, Ugnius Šeškas and Karolis Gogaitis from Lithuania.

ICO initiator

Although Inadinova was born in Vilnius, the capital of Lithuania, she spent most of her childhood abroad, first in Vietnam and then in Thailand, where her father worked in real estate. When Inadinova was 14 and the family moved back to Lithuania, she was delighted to find a job at a home appliance business owned by a friend.

“My first job was not glamorous. It was actually cleaning used washing machines and refrigerators,” she recalls, adding that the 15 litters she made per machine was pretty good for someone her age That’s a substantial amount compared to Lithuania before the euro.

After graduating from high school, she pursued a bachelor’s degree in physics at Vilnius University in 2012 on a full scholarship. Despite her love of science, Inamedinova quickly decided: “I’m not going to be a scientist; I don’t want to be in a lab for long because I’m more of a human being.” Because of her ability to give group talks, Inamedinova “felt my role might be is to convey difficult concepts in an easy-to-understand way” and began to practice outside the lab.

Her first internship was in cybersecurity at Barclays. The experience broadened her horizons and sparked a deeper interest in economics and finance. Inamedinova, who describes herself as having always held liberal views, joined a free-market think tank, which she sees as a way to get into economics. After working in what she described as a male-dominated industry for a while, Inedinova changed course in tech when she said “it was clear that I would never be taken seriously in that industry because of my gender”.

She started helping a friend start a startup that resembled a “Kickstarter for startups, where the best ideas get funded,” but the project didn’t pan out.

She also interned at Vinted, a company that sold second-hand clothing that went on to become Lithuania’s first unicorn tech company. “They were a small business at the time; I was doing customer support,” she recalls.

Inamedinova told her story in a conference room overlooking Dubai Marina.Photo by Elias Ahonen

Although she had no real experience in public relations, she was hired as a correspondent for the social media app Plag, and the company’s hiring manager told her, “You talk a lot, so I think you’ll get along well with journalists.” While in charge of marketing for her employer, Inedinova came to realize that she also wanted to build a personal brand as an expert in business and technology.

While attending a web summit in Ireland, Inamedinova met Forbes editor-in-chief Bruce Upbin, who mentioned that the magazine was looking for someone to cover technology in the Baltic Sea region, the region where Lithuania is located. “I think he likes that I’m busy and building something,” he gave her a chance. Since April 2016, she has written “20 Growth Hacking Strategies You Should Be Following in 2016,” and began contributing what she called “thought leadership articles” to The Huffington Post in July.

However, her career as a journalist came to an end when a new editor-in-chief questioned Inadinova’s work in marketing and told her she should choose to be a journalist or a publicist. “I was like, ‘I’m sorry, I’m going to be a publicist,'” she recalls telling her manager.

Around this time, “Crypto Knocked My Door” in 2016, a friend of a friend asked for help in launching an initial coin offering or ICO due to her experience in public relations. Although Inamedinova knows very little about the blockchain industry, she feels she has nothing to lose.

“Laura, why don’t you help us raise money for our project? We only have three W’s: website, white paper, and wallet. We’re going to make a fortune. That’s his pitch.”

The team managed to raise several million dollars, and Inedinova realized she had a unique opportunity at hand. “When you do an ICO and talk about it, other people start approaching you. It was a huge opportunity for me because I was only 21 years old,” she recalls. Having worked in the industry for a year, she knew she could build a personal brand. “I can actually make a difference here. I can be heard and build something,” she explained, explaining that the existing tech marketing world is more competitive for newcomers.

The ICO consulting industry has given Inedinova the opportunity to travel the world, attend conferences and speak frequently. Companies she has worked with during this time include CoinGate and Waves, both of which “are normal and still operating,” she noted.

“I’m talking about cryptocurrencies everywhere — in a studio in London, Belgrade and New York. So, basically, after a year and a half of crypto, I’m honestly OG,” she laughs.

“Clients I worked with in 2016-2017 raised over $200 million through crypto funding — ICOs, STOs, etc.”

Despite loving the spotlight, Inedinova took a year off as the ICO market dried up.After some thought, she decided “my career, my business is the most important thing to me” and returned to PR – her livelihood – in 2019 as a communications executive for both companies principal online news, a tech media outlet, and the cannabis unit of Aurora Cannabis. “I always do at least two things at once,” she explained, adding that she eventually developed a distaste for the marijuana industry and its promotion for recreational use.

As optimistic signs come back to the crypto market around 2020, so does the demand for crypto PR.

“I started getting a lot of inquiries from my old acquaintances — they needed everything related to crypto marketing.”

The future of ISPO

Taking into account Cardano’s 5% annualized payout, the $10 million target would require $200 million in ADA staking for a year – just under 1% of the $23.4 billion ADA, which is Currently bet. However, only about $200,000 has been put into the funding pool so far, which means that bi-weekly payments to the ministry will be a mere $400 — in other words, 0.1% complete.

This lack of participation is somewhat surprising considering the vast majority of Cardano staking pools operate in countries considered to support the Ukrainian cause, suggesting that the Cardano community may also be generally supportive. That said, the downside of the ISPO strategies that have existed to date is that they are limited to a single cryptocurrency, which means that promotions must target highly specific communities, rather than general cryptocurrency holders. collects information about the location of Cardano staking pool operators.

ISPO can be done with “any token that offers an API for staking”, possibly including Ethereum after that.

Inamedinova believes that the ISPO model has a bright future in both charitable giving and start-up funding, as the psychology of giving via pledge differs from more traditional philanthropy or investing, which typically involves budgeting and allocating funds rather than other competing purposes. Since “the whole idea of ​​a staking pool product is that you don’t actually have to donate money”, participating in ISPO doesn’t make it feel like the money is actually being spent.

“When people invest, they think it needs to have a certain percentage of odds to really work – I can see ISPO being an interesting way to fund moonshots.”

Source link


Be the first to comment

Leave a Reply

Your email address will not be published.