Mandarin Version:
<aside> 💡 $BLA token serves as both the governance token of the BlablaBlock ecosystem and the proof of ownership to the treasury.
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In BlablaBlock's decentralized validation system, $BLA is the governance token and the proof of ownership to participate validation mechanism. Users can deposit USDT into the treasury smart contract to exchange it for $BLA tokens, gaining governance rights, participating in trading validation, and utilizing DeFi-related functionalities.
Utilities of $BLA Governance Token
BlablaBlock has developed a decentralized governance model to support an effective, transparent, and balanced trading validation mechanism. This model aims to make good traders more visible and provide investors with a trustworthy reference point. We firmly believe that the decentralized approach can address the existing issues in cryptocurrency investments! 🫡
The quantity of $BLA tokens represents the corresponding voting power (the more tokens you have, the more voting weight you possess). Holders can freely participate in voting for trading managers, select their preferred managers (or abstain from voting). To encourage token holders to vote and create a positive feedback loop, the right voting decisions will be rewarded. What defines correctness? It's when the selected manager generates positive returns for the treasury assets!
BlablaBlock is well aware of the centralization problems and the existing market imbalances. Starting with $BLA, we are building an infrastructure that can balance various roles and sustainably drive us towards a new world of CeFi x DeFi.
BlablaBlock $BLA Network
The price of $BLA tokens is fundamentally pegged to the total value of assets held in the DAO treasury. $BLA tokens essentially represent a basket of underlying cryptocurrencies held in reserve, and their price is linked to the value of these reserves. Therefore, you can think of $BLA as a tokenization of the cryptocurrency reserves managed by decentralized managers, meaning that owning $BLA gives you a share of the treasury reserves.
We have developed a price oracle that provides a fair price to the smart contract called bex. The bex smart contract uses this price to facilitate the exchange of $BLA tokens. For example, if the current supply of $BLA tokens is 1,000, and the total value of all cryptocurrencies held in the treasury is 1,100 USD, the oracle will update the $BLA token price to be 1.1 USD (total treasury value divided by token supply).
You can access relevant smart contract information here 🔽