BLOCK TOKEN UTILITY
The Blockasset ecosystem is powered by the BLOCK token.
There are 320,000,000 BLOCK tokens in total. These are allocated to various purposes to build and grow the platform and power the marketplace.
Please note that the below utility is in planning, and may change at any point if required. However, single asset staking is live.
BLOCK token has a number of utilities and perks, including:
BLOCK/ATHLETE trading pair
BLOCK will become the main trading pair for all athlete token transactions.
The biggest sports stars in the world will release athlete tokens with Blockasset, and their athlete tokens will ONLY be available for purchase with BLOCK.
In order to access athlete tokens, fans will be required to purchase BLOCK tokens first.
Athlete launchpad access
As stated earlier in the whitepaper, BLOCK tokens can be transferred into a staking smart contract to access a number of perks. Users who stake BLOCK tokens will be eligible for pre-sale access to the athlete tokens at the earliest possible stage before they hit the market, via the Athlete Token Launchpad.
Think DAO Maker, Binance Launchpad, BSCPad or Seedify but for Official Athlete Tokens.
Users will fall into tiers and be eligible for an athlete token allocation depending on the number of tokens staked and the length of time staked.
Governance
BLOCK token holders govern the Blockasset eco-system. BLOCK holders will be able to submit and vote on proposals for project improvements, as well as propose and vote on athlete content and signings and much more.
Single Asset Staking Rewards - 30% APR
Users who stake their tokens will be eligible for launchpad access and reduced fees, additionally, all stakers will earn additional BLOCK tokens at a rate of 30% APR.
Token Burn
Any time an NFT is purchased or re-sold, a % of the profits from the NFT sale will be used to buy BLOCK tokens on the open market, which are sent to a ‘burn’ wallet, meaning those tokens become unusable, reducing the overall token supply over time.
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