A public pre-sale event for Blacksmith is currently live until May 12, 2023 at 22:00 UTC.

Pre-sale participants will receive a $BS allocation proportionate to their contribution relative to the overall amount raised. Read on for more details.

The first use of $BS is to token-gate access to the Blacksmith platform.

It features burn mechanisms, liquidity incentives, staking rewards, and in the longer term, can have additional unique use-cases across the Blacksmith suite.

At launch, the first use of $BS tokens can be to craft a Forge Key and thereby secure your access to Blacksmith Beta.

With a view to gain full access to the platform in Beta, a user must own certainly one of the extremely limited Forge Key NFTs.

Unless you buy it on secondary markets, the one option to get a key’s by ‘smelting’ (burning) $BS tokens — perpetually removing the tokens from existence.

Forge Keys can be crafted (minted) on a first-come first-serve basis, and not more than 50 will ever exist.

You should smelt approx. 7M $BS to craft a Forge Key.

With 225M circ. supply at launch, only 32 Forge Keys can be craftable for the primary round of Beta testing.

The remaining 18 keys will grow to be craftable because the remaining 125M $BS enter circulation via rewards/incentives.

Holding a Forge Key will grant you:

• Unlimited access to the Blacksmith platform while in Beta.
• Exclusive access to The Forge, a non-public Telegram group with other holders.
• First consideration for any future products/offerings/rewards.

• 1B max supply, 350M circulating supply at launch.
• 650M $BS (65% of FDV) to be retained by the team and linearly vested until December 2026.
• 225M $BS (64.3% of circ. supply) (22.5% of FDV) can be allocated to pre-sale participants.
• 115M $BS (32.9% of circ. supply) (11.5% of FDV) can be used for staking rewards (35M $BS) and liquidity mining incentives (80M $BS).
• 10M $BS (2.86% of circ. supply) (1% of FDV) can be airdropped to users who replied their address to @Blacksmith0x ‘s tweet (Snapshot already taken).
• $BS allocations from pre-sale participation are proportionate to a user’s contribution, relative to the overall amount raised.
• Note that ZERO of the $BS circulating supply will go to the team or other insiders.
• There was ZERO outside investment in Blacksmith. No VCs, angels, or otherwise.

Blacksmith’s token model is designed in such a way that everybody can participate and win, even the people for whom a key could be too expensive, or who don’t care about access to the Beta.

The $BS token features staking rewards, liquidity mining incentives, and more, but a fundamental feature is that it’s designed to be deflationary, even when considering the inflation from rewards.

Due to the hard cap on Forge Key supply, a significant slice of BS circulating supply will all the time should be smelted for 1 key to be crafted. Every time Forge Key supply increases +1, BS circulating supply decreases by ~1/50.

The rewards are designed to present BS holders the possibility to earn enough through rewards to get a key, while the deflationary mechanisms make the token desirable.