1 million BLU will be minted initially. The distribution of the token will be as followed:
25.0% - Initial token sale (over 2 years)
25.0% - Liquidity mining program (over 5 years)
20.0% - Community & ecosystem fund
12.5% - Reserve
12.5% - Project team & advisory
5.0% - Private sale
The initial token sale aims to raise funds for the team to fund operations, go-to-market strategies, and expansion plans.
The team has decided on a 2-year token sale to align the community and team to the long-term success of the protocol. It allows:
Automatic price discovery of the BLU token
Time for the market to evaluate the traction of the team
Early BLU holders to be rewarded while allowing late adopters to enter the market as well
A fixed amount of 600 BLU tokens will be put up on sale each day. Depending on the percentage of that amount that is sold, the sales price will be dynamically adjusted on the next day.
If too many tokens were sold, the price will be adjusted upward the following day. If too few tokens were sold, the price will be adjusted downward the following day.
Over the long term, the sale price of the BLU token will reflect the intersection of the demand and supply of the BLU token.
The auction will start at exactly block 18950000, on 10th Sep 2021. The countdown for the block is available here.
Do note that the initial token sale interface will not be available to residents of selected countries due to restrictions from the central bank or UN sanction list.