In October 2019, we announced that Blockstack PBC partnered with Blockchain.com, a leading provider of cryptocurrency products and creator of one of the most popular crypto wallets, to bring Stacks tokens (STX) and Blockstack apps to their users.
We’ve successfully completed the first phase of this partnership. In the most recent hardfork, Stacks tokens have been successfully materialized for Blockchain.com users who participated in the campaign. Over 300,000 unique, verified Blockchain.com users participated in this distribution and we’re excited to welcome them to the Blockstack ecosystem.
All Stacks distributed to these new owners (who passed a comprehensive KYC process) are locked for a year and were restricted to specific geographies as we seek to comply with securities laws and protect the Blockstack ecosystem for the long-term.
“Blockchain.com plays a critical role in global crypto infrastructure. This STX distribution is just the first step towards a deeper integration with Blockchain.com services”, said Muneeb Ali, Co-founder and CEO of Blockstack. “I’m looking forward to our continued work with their team as Blockstack is integrated into other products like Blockchain Explorer and Blockchain Wallet in the future.” Blockchain.com wallet and their Blockchain Explorer are some of the most relied upon in the industry to date.
It’s exciting to see the ecosystem mature and entities like Blockchain.com working to provide quality tools and services to Stackers. Throughout 2020, we expect the community and other entities in the Blockstack ecosystem to meet more needs of a maturing Blockstack ecosystem while Blockstack PBC focuses on developer tools. In fact, as we move toward further decentralization, we anticipate the hardfork that materialized the STX for this Blockchain.com distribution will be the last one Blockstack PBC itself will initiate and actively execute.
Furthermore, we expect the Stacks 2.0 launch to be led by the network, independently of Blockstack PBC. Stacks 2.0 is Blockstack’s master blockchain design and represents a number of critical innovations that we believe will move Web 3.0 forward. These include proposals for a new consensus algorithm called Stacking that allows Stacks holders to earn Bitcoin for actively participating in the consensus algorithm, Clarity, a smart contract language that optimizes for predictability and security, and more. Learn more about Stacks 2.0.
The Securities and Exchange Commission (SEC) has qualified the offering statement that we have filed with the SEC under Regulation A for our offering of certain of our Stacks Tokens. 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.
Forward-looking statements 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 Clarity smart contracting language, and potential mining operations. 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 SEC, 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.