The blockchain space witnesses the addition of new projects almost every day, and these projects often come with myriads of promises for the industry and users at large. However, not all these projects live up to the expectation, but a good number of them stay true to their mission. One project that belongs to the latter category is BLOCKS, the first-ever Decentralized Autonomous Organization (DAO) LLC in the blockchain industry.
Introduction to the BLOCKS Platform
BLOCKS project is a blockchain agnostic system with a mission to integrate existing applications into the blockchain network. It aims to provide a simple blockchain protocol to help corporations and businesses to easily onboard seamlessly without any glitch. By leveraging its services and features, industries can migrate to the blockchain and enjoy all the benefits.
The founding team seeks to offer a simplified, hybrid, and web 3 blockchain-powered system for industries, enterprises, and businesses. They are looking to set a new standard for businesses worldwide. By doing so, BLOCKS hopes to offer a solution to the blockchain trilemma of security, scalability, and speed tradeoff. To achieve this goal, BLOCKS is aiming to leverage an improved asset tokenization standard known as ERC-777 on the Ethereum blockchain network. The ERC-777 is reverse compatible with the ERC-20 standard, and it also offers cross-chain use cases that help improve the efficiency of things like the oracle functionality, trading, payments, and so on. With BLOCKS, users can migrate from web 2 to web 3.
The BLOCKS Token
The BLOCKS token is a multi-faceted utility token that powers the industry partnerships and also governs the decentralized autonomous organization. BLOCKS intends to expand its token’s utility to also function as a unit of measure for blockchain. Holder of the BLOCKS token can:
- Have a say in the operations of the DAO (Governance)
- Take part in activities within the BLOCKS network since the token serves as a unit of measure across the networks enterprise and industry partnerships.
- Have access to the community-developed software development kits (SDKs).
- Receive benefits from strategic partners of BLOCKS.
The token will be available for purchase on Uniswap starting October 30, 2021. You also can join the waitlist before the token launch. The BLOCKS token has a market capitalization of $18.875 million and a total supply of 10,000,000,000.
The BLOCKS Tokenized Community
The BLOCKS tokenized community is a user-friendly, engaging, and rewarding ecosystem. The community is a token-permissioned chat room on the Discord server. It is a pay-to-play system, and members must hold a specific number of BLOCKS tokens in their MetaMask wallet before they can be granted access to the community chat. The BLOCKS team believes that community is the heart of DAO, and they aim to promote a positive and engaging one. They understand that it will be easy to achieve when members have more skin in the game. Therefore, they came up with membership tiers that include the silver tier and gold tier.
To be a member, you will have to hold 300,000 BLOCKS tokens in your MetaMask wallet. You will also be in a position to receive exclusive updates and information before the general public. Siler tiers members will have voting rights on different issues presented within Discord.
Members must hold up to 1,000,000 BLOCKS tokens in their MetaMask wallet. They have exclusive access to information and updates regarding the community and project. Gold tier members have the chance to become BLOCKS ambassadors, and they also have access to a member of the management team once a month. They will also enjoy airdropped tokens for their active channel participation and contribution.
It is important to note that the voting polls on Discord are completely different from BLOCKS DAO governance voting on Snapshot.