Legends BLOCK token allocation — full guide

Please read this full article in full to ensure you understand the terms of this BLOCK token sale round.

The BLOCK token will go live on December 9 2021. To reward our Legends NFT holders we have created an extra private sale round to allow the holders to participate in the BLOCK token sale, with a guaranteed allocation.

Legends NFT holders can secure a $100 allocation of BLOCK tokens providing they purchased a Legend before our random snapshot, which has now been taken.

Eligible Legends holders from the snapshot can now claim $100 of BLOCK from the Blockasset claim site per each Legend held, with no maximum allocation per person. E.G. If you hold 30 Legends NFTs you will be eligible for a $3,000 BLOCK token allocation!

Here’s how you claim:

1. Head to claim.blockasset.co
2. Connect to your Solana wallet that holds your Legend(s) NFTs. Any wallet that did not contain a Legend during the snapshot will not be eligible to claim BLOCK tokens.
3. Read over the terms, you must read this whole document to ensure you are fully aware of the terms.
4. If you haven’t already done so, add $100 of USDC to your wallet, you can easily swap many SPL tokens from within the Phantom wallet, as displayed in the video below. You will also need a small amount of SOL in order to process the transaction and claim your receipt, we recommend holding at least 0.015 SOL per Legend NFT/claim.
5. Click the ‘Redeem’ button, which will process the transaction. $100 of USDC will be removed from your wallet and you will receive a receipt of payment NFT. The Blockasset team can track these NFTs and we will deposit BLOCK tokens to the wallets holding the receipts. If you are unable to claim, the page will display a message to advise you that your wallet is not eligible or the Legend you purchased was after the cut off time. If the redeem button appears, then you can claim.
6. If you hold more than one Legend NFT you can refresh the page, claim $100 of BLOCK tokens for each Legend.
7. You will receive your BLOCK tokens over a vested period, full details on this below.

VESTED TOKEN TERMS

We call this Legend holder allocation ‘Private round 2’ which has the following vesting:

• 20% BLOCK tokens unlocked at TGE
• 10% every 3 months from month 4

The Legends community unanimously decided to include a strong holder amendment to the above vesting, to ensure anyone participating in this round holds their Legend NFT for a period of 3 months, anyone who sells their Legend NFT in the first 3 months prior to the second unlocks at month 4 will lose their vested tokens from the month 4 and month 7 unlock, a total penalty of 20% of vested tokens.

E.G. A holder claims $100 of BLOCK tokens using their Legend NFT and is entitled to 800 BLOCK tokens, vested. This person then sells their Legend NFT that they used to secure their BLOCK token allocation prior to the month 4 unlock, they will then lose 10% of their total allocation at month 4 (80 BLOCK tokens) and 10 % at month 7 (80 BLOCK tokens), for a total of 20% (160 BLOCK tokens) from their allocation. They will continue to receive vested tokens as usual from month 10 until the final unlock.

Any tokens that are removed due to a Legend sale will be distributed among Legends holders that did not sell by the month 4 unlock.

Please read over the above thoroughly to ensure you understand the rules and terms of this sale. We will be unable to refund anyone once they have clicked the redeem button at claim.blockasset.co, clicking ‘redeem’ acts as an acceptance of these terms.

The claim page will be open from 20:00 Monday 6 December until 08:00 Wednesday 8 December.