Community Update 04 — The Upgrade Approaches

We are thrilled to update you on the progress of the BlockBlend Evolved Upgrade. The team has been working hard to bring you the best experience possible, and we are excited to share some updates with you.

Firstly, we would like to thank our community for their eagerness to migrate their tokens. It is with great pleasure we can announce that about 80% of $BBL tokens have already been migrated, with 90% of all migrated tokens committed to the 30-day locked staking pool. This showcases the immense confidence our holders have in the long-term vision and passive income potential of BlockBlend.

Token migration progress

Migrated tokens committed to 30 days locked staking pool

We understand that there have been questions regarding the impacts of the migration and the token dilution that will occur. We want to assure you that this decision was made with the best interests of the project and its community in mind. Dilution means that each token becomes more valuable, and here are some reasons why the migration and associated dilution will benefit the project:

1. The Ethereum mainnet is a more mature chain with many serious investors.
2. An increased starting market cap provides a more stable, less volatile chart that attracts bigger and more serious investors because of greater stability.
3. An increase in supply will allow for the token allocation of Tier 1 and/or Tier 2 CEX listing(s). If the CEX token allocation is not used after a 1-year lock period, it will be burnt, reducing the overall total token supply and increasing the value for all holders.
4. Money raised in Seed funding will finance marketing programs to bring greater awareness and exposure to the project. The seed round also brought on board more new investors with great connections in the crypto space to help spread the word about BlockBlend.
5. Farming rewards can be changed into native $ETH coins.
6. Lowering trading fees (buy/sell tax) will increase the volume.
7. Existing holders will have adjusted token holdings, but the value of the holdings will remain the same. Every holder will receive the same dollar value of the new tokens after migration.
8. 25% of platform usage fees collected will be contributed to farming pools.
9. Automatic burning of supply on Sells (0.1%) makes supply constantly deflationary.

We are excited to announce that next week, we will reveal the exact dates that the new BlockBlend Evolved platform and dApps will go live. Also, we will have a date of when the new Smart Contract is to be launched so we can begin trading again and blast us off into the next evolution of the BlockBlend project! We want to thank our community for their unwavering support and look forward to the future with great optimism.

Catch you next week, BlockBlenders! 🟪