cBSN & SHB Conversion to BSN Conclusion

Governance
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cBSN & SHB Conversion to BSN Conclusion

Introduction

The BSN token is a DAO governance token. There is no market value or price for BSN tokens because the DAO is in a network Bootstrap phase. All market, liquidity provisions, or network utilities will be communicated and discussed via the DAO feedback channel. The current DAO feedback channel is http://gov.blockswap.network/. BSN is used for governance and network integration to acquire value-aligned DAO members and protocols with the goal to create a self-sustaining ecosystem for web3’s mainstream adoption. The DAO is striving to achieve meaningful decentralization while onboarding core users.

BSN Token

Here are updates on BSN token distributions.

  • 48.52% of BSN is currently still held by the DAO treasury.
  • 4.48% of BSN have been distributed or vested.
  • Full BSN Tokenomics can be found here.

The DAO maintains in excess of 780 million BSN tokens vested and liquid in the treasury as of January 13.

cBSN and BSN Recap

The window to begin the conversion from cBSN or SHB to BSN has closed. cBSN and SHB holders had 100+ days to begin the conversion of cBSN and SHB to mainnet BSN tokens. You can find full details here. 300 million BSN tokens were available for cBSN and SHB holders to claim. Outlined below are the results of the conversion.

  • 124,017,934.176429004041441062 cBSN was converted to BSN at a rate of 1:1.
  • 45,595.9865584851 SHB was converted to BSN at a rate of 2100:1.
  • 75,567,515.85669433 BSN was returned to the DAO treasury.

As of Jan 11, 2023 there are still 104,314,455.30048367 BSN vesting or available to be claimed. 115,455,050.64876412 BSN have been claimed.

The Future of BSN

Blockswap DAO is a Protocol Network DAO. Without protocols and those who use them, there would be no need for the BSN token. The current objective of the DAO in regard to the BSN token is to find meaningful decentralization by empowering users with its protocols. Distributing tokens to those with assets in Blockswap protocols cultivates an aligned community of actors with their own interests. In this way, those who use the protocols gain a more significant influence of the DAO.

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Don’t forget about this.
"BSN CommunityNet token will have exclusive access to BSN beta products for earning incentives, including liquidity provisions and governance rights. "

“CommunityNet tokens will be converted (1:1) on mainnet launch with no lockup; token holders will have full rights on network governance and protocol stake fee earnings.”

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How can I get BSN token? I had cBSN but now I cannot convert to BSN, I want to get the mainnet token before it blows up.

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The blog post shows that it is already late for you to convert your cBSN. The window to do so has already been closed.

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Close? Where and when was the conversion information? I’ve been in this project for two years and it turns out that now I have an empty wallet? burning SHB cost me a fortune because stakhose charged 200 gwei in commission… This is a joke. the conversion should take place automatically, not counting on the fact that most of the old holders will not pick up.

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