November 30, 2022

Product Update: NFT Purchase Triggered BLES Token Mining Mechanism

Today we are excited to announce an update to the status of our token mining mechanism. As a reminder, collectors that purchase Blind Boxes unlock the ability to mine BLES tokens.

  • Following the next product update, a smart contract executed token mining event will be triggered each time a user purchases a Blind Box
  • The amount of BLES mined will be related to the value of the box purchased
  • As per the token mining burn mechanism, 50% of the value of BLES mined will be burned if the user chooses to claim within 7 days of the qualifying transaction
  • Until the smart contracts are updated, audited, and deployed, this mechanism will occur manually
  • Users who have already purchased Blind Boxes will soon (within 48 hours) receive the appropriate amount of BLES via airdrop

Mining Rewards Calculation

Mining rewards = (Blind Box purchase price) x P%

  • P = 15 (baseline)
  • P = 20 (during special events)

Examples:

  • A user that buys a Blind Box worth 100 $BLES receives up to 15 $BLES
  • A user that buys a Blind Box worth 100 BUSD receives up to 15 BUSD

Note: mining rewards are distributed after all Blind Boxes in the collection are sold out.

Interim Phase

Version 2 (V2) of the platform will fully integrate this mining algorithm into the smart contracts. Until the smart contracts are audited and V2 is fully deployed, this mining mechanism will be carried out manually.

Update for Early Users

For users that have already purchased NFTs on the platform, the first batch of mining rewards will be airdropped within the next 48 hours.

Users are requested to check their wallet addresses for the deposit of their share of $BLES tokens in accordance with the formula mentioned above.

For any issues, feedback, or bugs the most efficient way to reach the team is to use this link. Using the link streamlines the process on both ends and will lead to the fastest response.

About Blind Boxes

Blind Boxes is a gamified curation platform and launchpad for NFTs (non-fungible tokens). This highly scalable dApp enables brands and creators to diversify their revenue streams, increase the liquidity of their creative assets, and become leaders in decentralized global economies, while engaging fans and buyers to discover and collect rare, limited edition NFTs.

Via the Blind Boxes Marketplace, buyers experience the thrill of time-released curated NFT collections. Collectors virtually unbox exclusive items, curated by tastemakers across art, music, sports, and entertainment. Curation is at the core of our value proposition. The platform offers a commission structure that incentivizes independent contributors to curate blind box collections that feature top-tier talent, emerging artists and designers from around the world.

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