Hello Blitzoors,
The xBLZ seed sale is LIVE on SuperLauncher.io (Arbitrum)!
6.25% of the total supply in xBLZ token (Blitz Trade’s revenue sharing (100%) &governance token) is available for acquisition via the sale.
With no VC investment, private seed rounds, or private token sale, we remain dedicated to ensuring Blitz Trade’s future as a genuinely community-owned liquidity layer on Arbitrum (and across all supported chains in the future).
Alright, alright….
Here’s a TL;DR on everything you need to know to participate in our public seed round
Launch Platform: SuperLauncher.io
Start Date: June 12th, 2023
End Date: August 31st, 2023
Purchase Token: ETH
Purchase Price: 0.00005 WETH
Seed Sale format: First Come, First Serve
Hardcap: 312.5 ETH (6,250,000; 6.25% of the total supply)
Release: 100% release on TGE
Distribution: 100% in xBLZ
Our public seed sale comes with a Fully Diluted Valuation (FDV) of 5000 ETH ($9,000,000) and a cap of 312.5 ETH, allowing early supporters to acquire xBLZ at a highly competitive price.
Blitz Trade's ETH-based fundraising ensures that its valuation accurately reflects the prevailing market conditions throughout the duration of the raise.
The Token Generation Event (TGE) for BLZ will take place in Q3, 24 and tokens acquired in both, seed sale and public sale will be distributed then.
xBLZ stakers will receive 100% of the revenue.
BLZ and xBLZ are mutually convertible into each other, but the process is different depending on the direction.
BLZ can be freely converted into xBLZ at any time. The process is instant, and the ratio is 1:1.
The redemption process to convert xBLZ to BLZ implies vesting, the duration of which is selected by the user. The conversion ratio will increase proportionally with the vesting duration:
If the selected vesting duration is lower than the maximum (ratio < 1:1), the unclaimed excess BLZ is burned.
xBLZ allows for participation in protocol governance (governance implementation will take place in the future).
Further Reads:
If you have any questions, please ask them in our Discord, and don’t forget to follow us on Twitter!