We are honored to announce that Blockstack PBC’s upcoming token offering has been qualified by the SEC under Regulation A+. This is the first time in U.S. history that a crypto token offering has received SEC qualification. We believe this is a huge step forward for decentralized applications, internet security, and privacy.
As of today, there are over 165 applications built on the Blockstack decentralized computing network. Only accredited investors could participate in our 2017 offering under Regulation D. Now, thanks to this SEC-qualified offering, the general public can participate and fully interact with our network. Anyone can now join the movement to transition the world to a user-controlled internet.
We decided to work with US regulators to figure out a legal framework for our token offering because we wanted to open our token offering to the general public, without excluding the US. We believe that this was the harder but better path to take. We hope that this regulatory framework will democratize access to our network and that other projects may potentially be able to use our legal framework as an example. We believe that this qualification not only benefits the Blockstack ecosystem but can help mature the broader crypto industry.
We’d like to thank our long-time supporters and the Blockstack community for making this moment possible.
What does it mean?
Under the SEC Regulation A+ framework, Blockstack will conduct a $28 million cash offering. The token offering will open on Thursday, July 11th at 11:00 am Eastern Daylight Time. It will be open to any purchaser who would like to take part in the Blockstack next-generation computing network, subject to a small number of geographical restrictions. This means everyone from general enthusiasts, to longstanding Blockstack supporters, to accredited or non-accredited investors alike — in the U.S. and globally, can participate in the sale.
It is a truly groundbreaking day for decentralized technology and, by extension, fundamental digital rights. By building technology that “can’t be evil” by design; trusting centralized organizations to make the right choice is replaced by mathematical proofs.
Almost every day, there are reports of corporations controlling and selling user data on a massive scale. Regulation has been the number one topic of conversation and concern for decentralized technology since the birth of token offerings. We are proud to advance this all-important sector. We are working towards a future where violations of user trust are not simply admonished, but impossible and where value accrues with the user, and not just centralized corporations. By giving everyone, not just accredited investors, the opportunity to participate in the Blockstack network, we can accelerate the growth of an open, a user-controlled internet. We aim to replace the current, siloed version of the internet with one that is open, fair, and user-controlled.
The token offering will fuel further growth of the Blockstack decentralized computing network. The offering provides incentives for developers to contribute to the success of a secure next-generation computing network. These tokens, called Stacks (STX), will be used to register digital assets like domain names, write and enact smart contracts, and process transaction fees on the network.
The Blockstack network already supports more than 165 applications characterized by a user-first mentality and #CantBeEvil architecture. Examples include decentralized services like Dmail, a secure, encrypted email solution with no corporate intermediaries; BitPatron, a censorship-resistant membership platform; and Graphite Docs, a decentralized document management service protecting freedom of speech and privacy for jeopardized groups, like reporters.
To participate in the Stacks (STX) token offering and join our mission for a user-controlled internet where fundamental digital rights are preserved, register at stackstoken.com.
Prospective purchasers can start the identity verification process now by registering and will then be able to complete their token purchase as soon as the sale opens and after identity has been verified. able to login and proceed to payment steps at that time. A full Stacks token FAQ is available here.If you’ve already registered or registered a voucher, you do not need to take any steps until the sale begins. You will be
A note on payments:
- The sale is happening on a first-come, first-serve basis, as measured by receipt of payment. Please consider this when selecting a payment method. If the sale fills up while your payment is processing, you may miss out on the opportunity to purchase Stacks tokens. You can learn more about payment processing times here.
- If you are planning to purchase more than $200,000 worth of Stacks tokens, our investor relations team would like to assist you personally. You may proceed with purchasing up to $200,000 through stackstoken.com and work with our investor relations team for any additional purchases above that amount. Please email [email protected] and we’ll get in touch with you.
- Voucher holders who pre-registered and uploaded their voucher before the May 28, 2019 deadline will be able to purchase up to $3,000 in Stacks at the voucher price of $0.12. Voucher holders may purchase additional Stacks at the general offering price of $0.30.
The Securities and Exchange Commission (SEC) has qualified the offering statement that we have filed with the SEC. The information in that offering statement is more complete than the information we are providing now, and could differ in important ways. You must read the documents filed with the SEC before investing. The offering is being made only by means of its offering statement. This document shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
An indication of interest involves no obligation or commitment of any kind. Any person interested in investing in any offering of Stacks Tokens should review our disclosures and the publicly filed offering statement and the final offering circular that is part of that offering statement here. Blockstack is not registered, licensed or supervised as a broker dealer or investment adviser by the SEC, the Financial Industry Regulatory Authority (FINRA) or any other financial regulatory authority or licensed to provide any financial advice or services.
This communication contains forward-looking statements that are based on our beliefs and assumptions and on information currently available to us. In some cases, you can identify forward-looking statements by the following words: “will,” “expect,” “would,” “intend,” “believe,” or other comparable terminology. Forward-looking statements in this document include, but are not limited to, statements about our plans for developing the platform and future utility for the Stacks Token, our Reg A+ offering and launch of our network, and collaborations and partnerships. These statements involve risks, uncertainties, assumptions and other factors that may cause actual results or performance to be materially different. More information on the factors, risks and uncertainties that could cause or contribute to such differences is included in our filings with the Securities and Exchange Commission, including in the “Risk Factors” and “Management’s Discussion & Analysis” sections of our offering statement on Form 1-A. We cannot assure you that the forward-looking statements will prove to be accurate. These forward-looking statements speak only as of the date hereof. We disclaim any obligation to update these forward-looking statements.