Decentralized computing network Blockstack has applied to the United States SEC to launch a $50 million token sale.
Decentralized computing network Blockstack has applied to the United States Securities and Exchanges Commission (SEC) to launch a $50 million token sale which — if approved — would be the industry’s first SEC-qualified offering. The development was revealed in a filing with the SEC dated April 11.
The sale, which is being proposed under the SEC Regulation A+ framework, would be operated via a wholly-owned subsidiary, “Blockstack Token LLC,” and involve the sale of 295 million Stacks tokens.
The filing outlines that different allocations of a total of 295 million tokens would be sold at between $0.12 to $0.30 apiece, according to specific terms, as well as via Blockstack’s so-dubbed App Mining program. This latter involves the conferral of tokens in exchange for the development of…
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