ZUG, Switzerland, Aug. 11, 2022 (GLOBE NEWSWIRE) — The Summon Platform, a comprehensive “operating system” for groups and organizations to easily create and manage Decentralized Autonomous Organizations (DAOs) has achieved remarkable momentum since the software project was announced only 21 days ago. The DAO structure is foundational to enable users to conveniently govern and participate in Web3 communities.
According to Summon Association president, Adam Rusch, PhD, in the three weeks since announcing The Summon Platform, independent third-party analysis has logged more than 180,000 social media views and engagements, averaging more than 8,500 each day, and with more than 660 news articles written and published in the media resulting in 74 million views in technology and business media.
This awareness indicates strong support from users and investors on the development team’s native Cardano blockchain. Having launched an “Initial Stake Pool Offering” on Wednesday, August 3rd, 2022, the software development project passed the 1 million ADA of stake delegated in less than 48 hours, and as of today is more than 1.6 million ADA.
Riley Kilgore, Summon Labs’ CTO said, “We’re really excited to have the ISPO as a way for the community members to delegate their ADA stake to support this project.” The ISPO is a very Cardano-specific mechanism, Kilgore explains “because people delegate their block-producing power to a stake pool operator, and then if they agree, the stake pool operator can keep the block rewards that would normally go to the delegators. Instead of receiving ADA rewards for the blocks produced, the ISPO will send delegators tokens from the project – in our case, $SUMMON.
“The best part is that the users’ funds are never at risk because the stake pool does not take custody of the funds. The funds stay in the staker’s wallet and are always completely liquid.”
Thomas DiMatteo, Summon Labs’ CEO said, “We’re extremely grateful that supporters would give us their block rewards in exchange for SUMMON tokens. Exceeding 1 million ADA delegated to the pool in less than 48 hours is just unbelievable.”
Monday, August 15th marks the opening of The Summon Platform’s “Community Token Distribution event.” “The whitelist event,” DiMatteo said, “acknowledges and gives back to the Cardano community with an early access event for distributing the SUMMON utility token.”
Anyone holding a token from several highly supported community projects will be able to access the SUMMON community token distribution event on day one. The Community Token Distribution will take place online at https://app.summonplatform.io
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