Community Rewards payouts in BTC


#1

We are grateful for your support and engagement of the Blockstack Community Rewards program. Collectively, our community has generated over what would be ~$32k in earned rewards, subject to applicable law.

It’s important for us to prioritize the launch of the Stacks Token network, deliver upon our first milestone, and add functionality to the ecosystem. As we near the launch, we’re doing everything in our power to make it as smooth for the community as possible, while maintaining compliance for continued success. This has implications for our treatment of Stacks in the rewards program, and it’s the reason we’re transitioning, for the time being, to paying our community rewards in Bitcoin.

As a Public Benefit Corp, our goal is to be as transparent and involving of our open source community as possible. There’s been a disclaimer that issuing Stacks would be subject to applicable law since the program’s start. We hope to revisit the original vision of the program, if and when the token is trading live, and we are able to release more details on our respective legal frameworks.

Blockstack is the ecosystem that it is because of our community, and we are committed to rewarding contributors to our open source code, Meetup organizers and attendees, and evangelists for decentralized apps around the world.

We are grateful to all of our community members for coming along this journey with us, and we look forward to building upon contribute.blockstack.org together.

Patrick Stanley
Head of Growth @ Blockstack


#2

It’s awesome to see so much interest from the community members in helping the project – you guys completed $32K worth of tasks! As Patrick said, we will post updates about the future of the program; complying with all applicable law is extremely important to us.


#4

Hi Patrick, will there be some sort of opportunity for those of us that contributed to the community by completing tasks to get those earned STACK tokens back? I understand that you need to do whatever is necessary to stay compliant, but the real draw was being part of the community and working to earn those STACK tokens. Unfortunately I am not an accredited investor and this was my only chance to work for a small amount of STACK tokens, but sadly it is now just BTC.

Love the project, hope to contribute more, but would really love to “be” part of it by holding the token. Thank you.


#5

Yes, we’re working on the Stacks tokens aspect of it. The BTC payments can go out now and once we have more clarity on the legal framework, we can update on how we’re handling the Stacks token aspect.

Our community is extremely important to us and we deeply appreciate all the work you and other community members did. I can’t make any promises until the legal framework is ironed out so please stay tuned for updates! We’re doing the best we can :slight_smile:


#6

Does that mean there is a chance those BTC balances in our contribute accounts might be converted back to STACK tokens for us?


#7

No, the BTC payments will go out now. Any Stacks tokens, if possible, will be separate i.e., additional. We can’t make any promises regarding Stacks tokens right now. Thanks for your understanding!


#8

Ah, that sucks. I had a feeling it would be a sticky situation with the STACKS token distribution. The bright side is that we now have a way to earn BTC.

Will the STACKS we’ve previously earned be paid out in BTC to our Blockstack wallet?


#9

You’ll supply your own address upon cashout. :slight_smile:


#10

Staying tuned! Thank you!


#11

Anyway,Have to say you guys didn’t keep promise.