New PoB Staking Model
STPT tokens will be used in a new Proof of Business (PoB) model outlined below
In order to jumpstart the development of Standard Tokenization Protocol and build on its successful launch, Block72 has partnered with STP in implementing its new “Proof of Business” program.
“Block72 will attribute a significant amount of its quarterly revenue to purchasing STPT tokens in the open market.” — Mike Chen, CEO
These tokens will then be locked throughout the duration of Block72’s service contracts. Exact details of the program can be found below.
Why Block72 is leading the Proof of Business Program
STP is a decentralized network for the tokenization of digital assets. It is a project that Block72 has been deeply involved with as a prominent supporter of both the technical and business development of STP as well as the launch and growth of its native platform token, STPT.
As close partners, the interests of Block72 and STP Network are closely aligned. At Block72, we are looking to integrate the STPT token as an incentive alignment mechanism within our ecosystem of media partners, funds, token projects, and our growing global community.
While the STPT token has many use cases for retail users and businesses alike, chief among them will be the continued expansion of Block72’s Proof of Business program, described in further detail below.
- Block72 will use a minimum of 25% of its revenue from each new or renewed client contract to buy STPT tokens in the open market
- Those STPT tokens will be locked in an address for the entire duration of the clients contracts
- This wallet address will be displayed publicly, and the percentage of locked vs. circulating tokens will be tracked on the Block72 website
- To protect the privacy of our clients, their names will be redacted and their payment amounts will be aggregated on a quarterly basis
Last year, Block72’s revenue of $10M averaged $2.5M per quarter. Using that quarterly revenue in the PoB model to buy STPT at the spot price of $0.06 means Block72 could buy up to 35,714,285 STPT tokens from the open market at the end of that quarter.
The newly introduced Proof of Business model will go into effect immediately with all future Block72 contracts.
Block72 looks forward to continue supporting Standard Tokenization Protocol and exploring more ways to embed the STPT token into our global ecosystem!
Anyone interested in learning more can visit us at: https://stp.network/
If you’re an issuer interested in tokenizing your asset, please reach out to us at: email@example.com
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