BlockBlend Evolved: The Future of Crypto Privacy
BlockBlend has been making headlines recently with the announcement of major upgrades to its platform. This week BlockBlend is pleased to announce details on the most fundamental aspect of our upgrade. The project, which has been gaining momentum since its launch, is moving from the Binance Smart Chain to Ethereum, which will bring significant benefits to the project, current holders, and future investors.
Here are just a few of the exciting changes coming to BlockBlend:
Lower trading fees
BlockBlend is reducing trading fees to 2% for buys and 3% for sells. This means that traders will be able to keep more of their profits and enjoy a more affordable trading experience.
Automated Token Burn
BlockBlend‘s upgraded Ethereum contract includes an automated token burn of 0.1% on all sells. This will reduce the supply of $BBL tokens with every sell, with the deflationary effect gradually increasing the value of tokens remaining in circulation.
Sustainable Staking Rewards
BlockBlend is introducing sustainable staking rewards powered by trading fees and revenue generated by various privacy services. This means that users will be able to earn rewards for staking their tokens and supporting the BlockBlend network.
Expanded Reach
With the move to Ethereum, BlockBlend is gaining exposure to a new market of investors who are hungry for proven, reliable privacy projects. The project is also integrating at least three more blockchains onto its platform, which means more options for current users and an expanded reach into the crypto space.
Seed Raise (Complete)
To fund the marketing push, development, and additional liquidity required for BlockBlend Evolved, a private seed raise of 90 ETH was carried out. Seed investors are receiving a 20% or 25% (25% for “friends of the project” and 20% for new external investors) discount on the price of $BBL at the time of migration to the new contract. Seed tokens are vested 50% on Token Generation Event (TGE) and 10% every 3 days for the remaining 50%.
Current holders will receive a 1:1 USD value of $BBL tokens from the new contract. If you are a current holder the total dollar value of your new tokens will match that of your original tokens. Due to the adjusted MC and increased supply, the actual number of tokens you receive will be less. The dilution (quantity reduction) will be between 40–45%.
The approximate initial market cap of the new Ethereum token will be $1,800,000. This will vary slightly depending on the value of ETH at the time.
New Website
In addition to the platform upgrade, BlockBlend is also launching a brand new website. The community previewed the new site a few weeks ago, and it goes live today (April 26, 2023) at https://blockblend.io/. Please note that the new dApp will not be live today.
The team is rolling out updates, revisions, and complete overhauls to the majority of its documentation to ensure consistent branding and the highest caliber of information. Expect to see a steady stream of these items in the near future.
Migrating and Staking
BlockBlend has always enjoyed a very high percentage of staking in the farms, and to encourage and continue with the tradition, the team is offering a 5% bonus to holders who “Migrate & Stake” as well as a white list spot for the upcoming Privacy Pass NFT mint. In addition to the 5% benefit, holders will be saving on gas fees, as there will be no need to claim their tokens since their bag plus bonus will be directly staked for them on launch.
BlockBlend has great appreciation for another group of great $BBL supporters, the LP Stakers. LP tokens will be migrated in the same way as $BBL tokens; you will simply select the LP option from the migration dashboard. On top of saving you the work and gas money, you will also be eligible for the 5% bonus for migrating and supporting the project. Optionally, LP stakers will be able to choose to receive only BBL tokens instead of their LP tokens.
The migration dashboard will be live on April 28, 2023 to allow holders to choose their method of migration (with or without the additional tokens). On that same day, the liquidity on the existing $BBL contracts will be removed for transfer to the new contract.
Note: In order to give our holders full freedom of choice, all currently staked tokens will be unlocked on Friday to allow holders to choose their preferred method of migration.
All of the above migration details will apply to current $BBL tokens held on ETH, or BSC. Gas for the migration will be paid in the native token for whichever chain you are holding your tokens on (BSC or ETH).
The migration dashboard will remain open for a period of 3 months (until July 28, 2023) to allow all existing holders the opportunity to transfer their tokens to the upgraded Ethereum contract.
Trading of the new token as well as launch for the new dApp (staking, BlockBlend Premium, etc) will occur in mid-May, 2023.
Future Roadmap
BlockBlend has an ambitious roadmap for the future, including an online privacy wallet with multisig, a token/LP lock service, a private sale service, a stablecoin bridge, and an NFT bridge. These new features will further enhance the BlockBlend platform and make it an even more valuable tool for investors looking for privacy-focused solutions.
In conclusion, the BlockBlend team is making major strides to evolve the platform and make it an even more attractive option for crypto investors. With lower trading fees, automated token burns, sustainable staking rewards, and expanded reach, BlockBlend is poised to be a leader in the crypto privacy space. Current holders and future investors should be excited about the upcoming changes and the potential they represent for the future of crypto privacy.
Summary of Important Dates
April 26, 2023 — Upgraded BlockBlend website goes live
April 28, 2023 — $BBL token migration dashboard goes live
Mid-May, 2023 — Trading of the new Ethereum token begins, new dApp goes live
July 28, 2023 — Migration dashboard closes
