Some 40,000 investors snatched up the BLD tokens in a mere two hours.
The public token sale, which took place on Dec. 29, 2021, added to a private sale that garnered some $32 million, announced at the time the Agoric proof-of-stake base layer went live in November 2021. Combined with an earlier seed round, the project has thus far raised over $85 million. The public sale of BLD staking tokens has also brought another 40,000 or so new account holders to the Agoric blockchain.
Since then, it’s morphed into a proof-of-stake blockchain, linked to the Cosmos ecosystem, looking to create a safer decentralized finance (DeFi) realm than currently exists elsewhere.
Now that the Agoric consensus layer has been built with the Cosmos SDK blockchain framework, the next phase, which will go live in the next quarter or so, is fleshing out the economic applications layer, which will also include a “stable token” called Run, said Tribble.
This first phase of the application layer is just to get the economy deployed, stabilized and integrated with the whole Cosmos Inter-Blockchain Communication protocol, he said.
The leader in news and information on cryptocurrency, digital assets and the future of money, 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. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.