Happy belated New Year to everyone — we are minting 6,260,870 $BLST this Friday and sending them to a multi-sig Gnosis safe. These 6.26MM tokens represent the whole of the Community token issue.
Because equitable launches are the fairest, we have decided not to pursue a private sale of any sort despite interest from private capital. Instead, we believe it is in the Community’s best interest that everyone accesses the Token simultaneously.
Should an OTC sale be on the table in the future, we will ask the Community for feedback.
For core members of the Ballast Team, the foundation will continue to grant tokens to compensate for the work towards the platform’s success.
We will start posting missions for community members who want to get involved with Ballast — and each mission will have an award, paid in $BLST tokens. Missions can be one-off things like “best Launch meme” or continuous like “community growth and management.” Either way, these are fundamentally foundation grants.
We will being posting missions in the Community 🌎🌍missions Discord channel in the next handful of days.
Towards 57.36% in 8 weeks
We expect 57.3% allocated to the Community to be capitalized in 8 weeks; this is 3,591,235 tokens.
The remainder is in reserves, with the core team receiving 11% of the total supply. The rest will be used for platform management by the foundation. Any substantial movements that can adversely affect the platform or Token will be presented to the Community for feedback. We want the Community always to have more than 50%.
At present, we are hoping to launch base liquidity of 1,650,000 tokens via an IDO at the end of January — then airdrop and capitalize the remainder over eight weeks to raise operating capital for the project.
We haven’t set the token price yet, but we will announce it once we do, along with information on the IDO, where it’s happening, what time, etc… we will post here in subsequent weeks along with the steps required to register for the airdrop.
More info coming next week, but to get the most out of Ballast you have to be part of the Community. So join up. Links below.