In 2017, we published the Blockstack Whitepaper 1.0 and completed the first Blockstack token offering, with a focus on regulatory frameworks and creating a vision for the future of the technology. We’ve learned a lot since then, and are proposing new improvements to our token economics going forward.
Since 2017, there has been a lot of progress in the (new) field of token economics with different models and analysis frameworks emerging (see this and this). Given the potential offering to the general public in 2019, the hard-fork required to distribute those Stacks tokens, and the potential start of mining on the network in late 2019 or early 2020, we felt that it was the appropriate time to take a deep dive on the Stacks token economics model, engage the relevant experts, and perform an economic audit of our token distribution model.
We recently commissioned Prysm Group to conduct an economic audit and help establish a robust economic model. Our goal was to identify any potential long-term issues and help the ecosystem avoid issues related to token inflation and volatile network activity. In addition to the Prysm Group, we also sought feedback from Blockstack core developers, independent entities (like New Internet Labs), Blockstack PBC board, and other domain experts. We plan to make the executive summary of this economic study public as well.
Now we want to get feedback broadly from the Blockstack community.
Certain sections of the token economics 2.0 paper are still being reviewed but I’m happy to share the details on the proposed adaptive mint and burn mechanism. Please see Section 4 Future Token Supply below:
We are excited to introduce a more robust economic model to strengthen the ecosystem well into the future. We plan to share the full token economics 2.0 paper and executive summary of economic audit soon. In the meantime, we are interested in hearing your feedback. Please let us know your thoughts by commenting in here. Thanks!
CEO, Blockstack PBC
Rule 255 Legend This communication may be deemed “testing the waters” material under Regulation A under the Securities Act of 1933. We are not under any obligation to complete an offering under Regulation A. We may choose to make an offering to some, but not all, of the people who indicate an interest in investing, and that offering might not be made under Regulation A. We will only be able to make sales after the Securities and Exchange Commission (SEC) has qualified the offering statement that we have filed with the SEC. The information in that offering statement will be 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.
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