Blend by StakerDAO (BLND) Sale FAQ
Blend disclaimer: This notice does not constitute an offer of any securities for sale. If you are a U.S. person you may not purchase BLND.
What is the purpose of BLND?
BLND is an ERC-20 token that tracks a governed, fully collateralized basket of PoS tokens. Think of it like an index. In this case, BLND currently tracks Polkadot, Tezos, Cosmos, and Algorand. You will be able to see BLND metrics and the underlying assets of the BLND basket within our dashboard.
How was the Blend basket constructed?
More information about the Blend Basket and the Blend Methodology, please visit the Blend website, which is available to qualified participants.
Where can I purchase BLND?
The BLND tokens will soon be traded on a verified exchange available only to users who went through the KYC process in the original CoinList sale.
Is BLND sold as an ICO? Is this a private sale?
The BLND sale is not an ICO. BLND was sold and minted on CoinList at the price of the Net Asset Value (NAV). Only purchasers who register through CoinList will be “Blend Registered Holders” and are eligible to participate in the verified exchange.
How was the pre-sale structured and what was the initial price of BLND?
During the presale, BLND was sold at $1 (with a minimum of $25,000), and all funds were held until we paused this presale. Once paused, the StakerDAO Ops team used 100% of funds collected in the presale and purchased the underlying assets for BLND (Tezos, Cosmos, Algorand) and then turned that sale back on, from that moment on the price of BLND was tracking the Net Asset Value (NAV) of the underlying assets.
You can track the Net Asset Value of BLND on this dashboard:
What is the initial, launch, and max supply of BLND?
The BLND supply at launch (based on the presale) was ~4,515,693.
The current supply cap is 50,000,000 (can change through StakerDAO governance).
You can track the current supply of BLND on this dashboard.
Is BLND like an index? BLND tracks the underlying assets? How?
BLND tracks the price of DOT, XTZ, ATOM, and ALGO similar to an index in the stock market, but fully collateralized (StakerDAO holds the underlying assets of the Blend basket). Therefore, BLND changes as the price of those tokens changes.
What is the price of BLND and what is the NAV? What is the price I am purchasing at?
The price of BLND is determined by the market. Net Asset Value is the value of assets held by StakerDAO per token in circulation. The NAV will fluctuate based on the market price of the underlying assets and the weight of each asset in the basket.
Please see data.stakerdao.com, which is our dashboard to see the current NAV. Specifically, “BLND NAV”.
What if the value of the assets in the basket go down? Will the BLND NAV fall?
BLND tracks the price of DOT, XTZ, ATOM, and ALGO similar to an index in the stock market. Therefore, BLND changes as the price of those tokens changes.
Is BLND a security?
Quite simply, BLND is an ERC-20. From a more legal perspective: The BLND token is issued as an offering generally exempt from the registration requirements of the Securities Act pursuant to Regulation S under the Securities Act in "Offshore Transactions" to persons who are not "U.S. Persons" (as such terms are defined under Regulation S).
What is the difference if I purchase the PoS assets myself vs. the BLND token?
The way we think about BLND is "effortless proof of stake". So the StakerDAO community performs the associated research regarding the PoS assets to include and their share in the basket, select validators to stake with, and through our governance process, we can include additional tokens like ETH 2.0 or Polkadot in the future.
One other potential benefit is that, instead of distributing rewards to BLND holders, we use rewards to buy back and burn BLND, which may be advantageous in certain jurisdictions.
How to use the Blend (BLND) Exchange
Please note that the Blend Exchange is only available to CoinList purchasers who are registered with Staker. You must use the same Ethereum address where you received your BLND tokens.
WARNING: If you are executing an order and see that the app is suggesting it will return 0 USDC or 0 BLND back to you, please reach out to us on Discord and do not proceed with the transaction.
Step 1: Proceed to exchange-blnd.stakerdao.com
Step 2: Connect your wallet in the upper right hand corner. Please note that we have not yet enabled Wallet Connect, but we are working on it.
Step 3: You will see three boxes/values: “Total USDC available”, “Total BLND available”, and “Current NAV of BLND”. If you want to sell your BLND, pay attention to ”Total USDC available” to see how much is available to receive. If you want to buy BLND tokens, pay attention to ”Total BLND available”. “Current NAV of BLND” tells you the net asset value of BLND.
Step 4: On the left-hand side, you will decide which asset you would like to sell and click “Exchange”. You will first have to confirm one of two transactions for the approve function.
Note: If you are selling BLND, there is a 2% fee.
There is no restriction on the quantity per transaction except for how much is available.
Step 5: After your first transaction confirms, you will have to confirm a second transaction for the actual exchange.
That should be all! If you have any questions, please find us on Discord.
Why am I only receiving X number of BLND tokens?
You will receive the number of tokens in relation to your investment and the current NAV. The NAV is available on our dashboard. It will be (investment amount / BLND NAV) = number of BLND tokens received.
What is the Blend contract address?
This is the official BLND contract Ethereum address:
This is the ONLY address; please be aware of scammers!
How can I contact the StakerDAO community?
You can always connect with us on the StakerDAO Discord server , or on Twitter.
This notice does not constitute an offer of any securities for sale. BLND is not offered and may not be sold to or for the benefit of any “U.S. person” as that term is defined under U.S. securities law. If you are a U.S. person you may not purchase BLND.
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