• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Changelly
  • Price table

Crypto News PRO

From the world all news

  • Home
  • News

Stacks Foundation Will Soon Put Those 100M Tokens to Work

Written by:
Aeon Flux
Published on:
12 August 2020
Thoughts:
No comments yet

Aug 12, 2020 at 21:07 UTC

https://www.flickr.com/photos/94861732@N04/45494104634/in/photolist-2guNYSp-2guPs8N-2guNZ9w-2dkDLxb-2dkDQpE-PE23Kv-2cjaaQs-2cjaoFC-2cjabjo-PE23nr-2cjabX7-2dkDQZY-QoyCDD-QoyCKk-QoyD8p-S1NEjG-QoyCyD-QoyDcn-QoyFrn-QoyFtg-QoyDJz-PE2mxV-2cjapGL-2cjapyQ-2dkDXi9-2dq8DwB-2cjapB5-RhhZvu-2dkDXqU-23xpb7p-2dq8Duc-QoyCti-S1NEhs-S1NEnh-QoyDPp-2d3QnL1-2d3QnMU-2d3QnSy-23xpb2K-23xpbnp-2d3QnAS-2d3QnG3-2c2sMiF-2c2sMc8-23xpbeD-2dq8RcR-2d3QnV9-2d3QnR1-S1NbNu-23xpaVx

Blockstack co-founder Muneeb Ali speaks at Consensus 2017. (Credit: CoinDesk archives)

The Stacks Foundation plans to soon begin awarding grants to Blockstack blockchain projects with its fresh reserve of 100 million Stacks tokens.

  • Grants “will be awarded on a rolling basis,” to developers and researchers iterating on Stacks blockchain 2.0, according to a foundation spokesperson, who said more info on the program will be coming soon.
  • Blockstack PBC committed to transferring its Stacks reserves, intellectual property and a low-interest $950,000 operational loan to the Stacks governance foundation, according to a Monday SEC filing.
  • Such a massive value transfer – the 100 million tokens were worth over $26 million at press time – will have the secondary effect of decentralizing Blockstack’s network.
  • Relinquishing control of 100 million STX could help Blockstack’s argument that Stacks is not a security and possibly lead to an eventual token listing on U.S. exchanges, according to Decrypt.
  • Even so, Blockstack treats its Stacks token as a security by taking steps like filing updates with the SEC.

Read more about…

SECBlockstackTokensStacks TokensCoinFlash

Disclosure

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Categories: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Search in the news

Translate:

Earn up to 5% every 10 days with Aeon Flux Coins

Categories

  • Bitcoin (1,667)
  • Ethereum (1,057)
  • News (2,977)

Recent Posts

  • Bitcoin Fond Open The Gates For Insurers Into The Crypto Market — $ 100 Million Deal 11 April 2021
  • Medium 11 April 2021
  • Mark Cuban on Ethereum & the Path of DeFi 11 April 2021
  • What is Stellar Lumens (XLM)? Why will Stellar be able to succeed in the future? 11 April 2021
  • The 8+8+8 rule: Work, Sleep, Recreation 11 April 2021

Archives

  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020

© 2015-2020 Crypto News PRO
All Rights Reserved. Powered by IWG Agenzia Web