BLXM Token Foundry Ltd. (“the foundation”) announces tokenomics review for BLXM token
Right from its inception, transparency has been the core doctrine upon which the bloXmove project was built. At every chance, we have endeavoured to keep in touch with our community, briefing them on developments and sharing ideas. Over time, we also discovered a treasure trove of talent in this amazing community as well as constructive feedback that makes bloXmove better every day. We’ve kept our minds open, and our ears peeled to your ideas, and today, we share two important updates regarding the BLXM token, updates that we deemed necessary after listening to you in the last weeks and months.
Early 2022 has been challenging for the world’s crypto community. As a growing player in this community, bloXmove understands how the downtrend of markets can affect the mood of its backers. After carefully listening to the community, team bloXmove and the BLXM token foundry have decided to postpone its own participation in BLXM token distribution until after our first set of applications is in production and generates transactions.
To this end, we have decided
- to extend delay payouts to the team, so as to start only after first market launches.
- Specifically: extended cliff from April 2022 to January 2023 which translates to 7 extra months before the first token is unlocked.
- Team bloXmove also extends the vesting period by 50% from 24 to 36 months.
- For the bloXmove foundation, the vesting period is extended by 67% from 60 to 100 months.
- This means that monthly unvested supply is slashed from more than 700,000 tokens to 270,000 for the remainder of 2022.
- The BLXM tokenomics sheet brought up to date with these numbers will be published next week. Some simple visualisations will be added for lighter reading.
In the spirit of transparency we want to highlight again that all profits the BLXM Token Foundry gains from their share of the BLXM tokens will be reinvested into the following three dimensions. This has been the strategy already for Q1 and will continue for the rest of the year.
- BLXM sales and marketing
- Platform development and features
- Emerging markets expansion with crypto-based p2p mobility (bloXmoveNG)
Investor Portal Updates
Ensuring the maximum safety of everyone interacting with our products is non-negotiable for the bloXmove team. We have been building a beautiful investor portal for you and to ensure the safety and security of the smart contracts that power this portal, extensive stress testing has been ongoing. With two complex smart contracts and one Web3 app using more than 1 Oracle contract ..in the mix, the team has decided to delay the launch of the portal by one week.
Our Liquidity Provision portal which was supposed to go live on April 22 is now postponed to April 29. All current LP participants can continue to utilize our pools on Tokensfarm.
Staking is also postponed by one week from April 29 to May 6. The team sincerely regrets any disappointments or inconvenience this rescheduling might cause the community, but we believe that ensuring the safety and security of our investors on our platforms like the investor portal is a binding obligation upon us.
Lastly, we want to reiterate that the entire bloXmove team will always act in the favourable interest of our backers and the long-term sustainability of the project. As we continue to work on groundbreaking products that will transform different markets around the world, we remain mindful of how supportive you have been. Markets do what they do, and we can’t control that. However, you can always trust this team and this project to continue building and continue delivering no matter the market weather. bloXmove is here for the long haul, and we believe that the two measures spelled out above will drastically reduce supply and dampen the selling pressure. We appreciate your continued faith in bloXmove and as always, our doors are always open for your contribution and feedback.
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