July 15, 2019, 1:10PM EDT
• 7 min read

Stacks: The $260M utility token built on a network with less than 10,000 verified users

Quick Take

  • Blockstack hopes to raise $28 million through its ongoing Reg A+ token offering, selling its Stacks tokens at $0.30 each to the general public (implying a market cap of $260 million based on the current distributed supply)
  • These tokens will be used as a medium of exchange for apps, services, and name registrations on the Blockstack network
  • Since its inception in 2015, the Blockstack network has gathered only 9,555 verified users, an increase of approximately 55 new users within the last two months
  • The network is heavily reliant on the upkeep provided by Blockstack, a company which has faced serious financial trouble with “substantial doubt about its ability to continue as a going concern.”

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