Blockstack Intends to Raise Another $50M

The tokensale will be conducted in accordance with the SEC's “A +” exemption and funds is planned to be used to accelerate the development computing stack
12 April 2019   310

The New York blockchain-company, Blockstack, has filed a claim with the US Securities and Exchange Commission (SEC) to hold a tokensale in accordance with the “A +” exemption. The company plans to attract funding in the amount of $ 50 million, reports CoinDesk.

If approved, the sale of 295 million Blockstack Stack (STX) security tokens at a price of $ 0.30 per unit will be handled by a unit of the company Blockstack Token LLC.

The company wants to use the raised funds to accelerate the development of the decentralized computing stack and the application ecosystem.

We’ve been working with securities lawyers to create a legal framework that can enable blockchain protocols to comply with SEC regulations. This can potentially set a precedent for others in the industry, not just for public offerings, but also as a path to launch new public blockchains and establish a path to bootstrapping decentralized ecosystems.

Muneeb Ali

Co-founder and CEO, Blockstack

The A+ exemption was adopted by the SEC in 2012 and allows companies to attract up to $ 50 million of funding from American investors.

In December 2017, the Winklevoss brothers and other large investors invested $ 50 million in the Blockstack during the tokensale.

Bibox Exchange to Conduct 4 IEO Simultaneously

The allocation of tokens will be perfomed in the order of the lottery among holders of BIX tokens and the IEO to be perfomed at Bibox's Orbit platform
19 April 2019   99

Bibox cryptocurrency exchange presented four projects that will conduct the initial exchange offering of their tokens as part of the first wave of IEO on April 22 on the Bibox Orbit platform.

  1. The Force Protocol (FOR) is a distributed protocol of crypto-financial services based on a public blockchain system, providing opportunities for cross-platform asset transaction and communication, use of crypto assets from several blockchains to provide steybcocoins, issue tokenized bonds, etc.
  2. Ludos (LUD) is a solution for a distributed gaming ecosystem designed to bring large-scale blockchain games and economic incentives to life.
  3. Staking (SKR) is a decentralized asset management platform that allows investors to safely stack tokens.
  4. X-Block (IX) is a computing system based on the blockchain architecture.

The allocation of tokens will be perfomed in the order of the lottery among holders of BIX tokens. Potential investors will be able to declare how many tokens of a project they want to purchase based on their BIX, after which a separate rally will be held for each of the projects.