Blockstack Becomes The First To Hold The SEC Qualified Token Offering In The U.S. History

Anisa Batabyal
| 24 August, 2019 | 2 min

Today, 11th of July, 2019 is a groundbreaking day in the history of the U.S. decentralization as Blockstack PBC’s upcoming token offering, Stacks (STX) has been qualified by the SEC under Regulation A+. This means under Regulation A+, the general public or the U.S. citizens can also participate in this token sale, rather than it being restricted to the accredited investors, as it was before under Regulation D. This is a huge step towards the future of tokenization, making it more transparent and secure at the same time.

Stacks or STX is like a fuel to the Blockstack network, similar to how Ether works on the Ethereum network. One more similarity it has with Ether is that the total STX supply is theoretically infinite apart from various burns and money sinks. Apart from serving as gas or utility, some people might use it as a currency while some might use it as a speculative asset. For the developers, it can act as a way of rewarding through Blockstack App Mining or App Staking System.

What Does It Mean?

By now, over 165 applications are built on the Blockstack network like BitPatron, a censorship-resistant membership platform, Dmail, a secure, encrypted email solution with no corporate intermediaries and many more. As per the Regulation A+ framework, a total of 180,333,333 tokens will be sold in three allotments (Blockstack distribution):

  • 78,333,333 STX tokens to be offered at $0.12 (Blockstack price) each to the current holders of early bird vouchers, to a max limit of $3,000 each.
  • 40,000,000 STX tokens being offered for non-cash consideration aligned with the App Mining System.
  • 62,000,000 STX tokens offered for $0.30 (Blockstack token price) each to the qualified purchasers or the general public, as per the Regulation A+.

The Blockstack token sale will start on Thursday, July 11th at 11:00 am Eastern Daylight Time and are open to the general masses, with a subtle amount of geographical restrictions. The sale will happen on a first come first serve basis with the order of arrival being determined by the order in which payments arrive.

How To Buy Blockstack Token

To participate in this token offering, you can register at stackstoken.com, and you can start the purchase once the verification process has been done. If you have already registered, just you log in and proceed to the purchasing tab and you can buy Blockstack cons.

  • If the sale fills up while your payment is processing, you may miss out on the opportunity but don’t worry, your funds will not be deducted.
  • If you are planning on buying more than $200,000 worth of Stacks tokens, you can email investors@stackstoken.com as the investor relations team would get in touch with you in such case.

What’s Next?

This adds a lot more solidarity and transparency to a more secure, decentralized digital future. This comes as a blessing to abstain from trusting centralized organizations, where everything is being controlled as against protection of fundamental digital rights.

“By inviting everyone, not just accredited investors, to contribute to Blockstack, we can effectively drive the long-term growth of our vision to build a decentralized computing network that will replace the current, siloed version of the internet with one that is open, fair, and user-controlled,” says Muneeb Ali, the CEO of Blockstack.

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