Blockstack PBC filed a notice with the United States Securities and Exchange Commission (SEC) on August 10 that explains how it plans to decentralize the network. The notice was accompanied by a blog post explaining the effort.
- Blockstack was the first to register with the SEC for its ICO, which in 2019 raised $23 million
- Blockstack will give 100 million STX tokens to the Stacks Foundation, a non-profit
- Tokens will go towards contributing to the ecosystem and blockchain
- The team is currently working to decentralize the network further