Bloom Phase 1 Is Launched on Mainnet

Announcement: You can setup your BloomID, Vote and Invite here!

We are excited to formally announce the launch of the first version of Bloom.

On January 1st, we deployed the first version of Phase 1 following the completion of the sale. We’ve made a few changes and are thrilled to announce Phase 1.

This current releases includes Bloom registration, the first BloomID smart contracts, the BloomID voting dApp smart contracts, and the invitation smart contracts. All of these are open sourced and documented here.

800+ Onboarded & Growing

Since our first release on January 1st, more than 800+ early adopters and initial users have signed up for their BloomID. 100’s of users have been active on Slack over the past week helping iron out and improve this release.

Thank you to everyone who has supported this release thus far!

For those of you not yet as active in our community, more than 10k users have joined our Slack group. Slack is the best way to stay in the conversation. We’ve also setup a support email: team@hellobloom.io

In addition, we just announced the Community Alliance Program to support and grow Bloom. The first live stream is Tuesday January 16th.

Launched on Mainnet

It’s important to highlight that this is a Mainnet release, deployed on the main Ethereum Blockchain.

This means that actions are logged to the Etheruem Blockchain, not the testnet.

In addition to launching the smart contracts, this release also includes our app to easily interact with the smart contracts. You can access the dApp here.

Screenshot of the Bloom UX to setup a BloomID, vote, and invite others.

Note: You will need the MetaMask browser extension with both BLT and a small bit of ETH to pay for gas fees.

The importance of Protocol Voting

Bloom is a community driven project. The voice of the lenders, developers, and Bloom community leads the protocol direction. This is why we’ve recently launched the Bloom Community Alliance Program and why the Bloom voting dApp is included in our very first release.

BLT voting allows us to ensure that the network is free from excessive influence from any one party and stays fair and balanced.

How Much Influence Do I Have?

Our model follows a proof-of-stake methodology. This means that your influence over the vote is based on the number of BLT you stake to the vote.

REMEMBER: You do not lose BLT by voting. The BLT is not spent.

Our smart contract checks and verifies the amount of BLT held in your wallet and applies this level of influence over the vote.

1 BLT Token = 1 Vote. Your level of influences can be determined by the following formula: BLT in your Wallet / Total BLT Staked to that vote = % Influence

BLT token holders have a voice over key protocol level decisions the network must make. We will rollout additional votes in the coming weeks and we’ll continue to update votes at a cadence advised by our community.

The Future of BloomID

For users who want to proactively take control of their credit, you can now establish a BloomID through the main dApp. Login here.

As of now, a BloomID gives you access to the voting dApp and allows you to invite others to join the network.

There are dozens of developers building applications on top of BloomID, this page on our Blog describes many of these projects.

As more projects built on Bloom launch, BloomID gains additional uses. You will be able to easily apply for loans, see which information is included in your credit profile, and take an active role in improving your credit worthiness through organizational and peer-to-peer staking.

Inviting & Growing

In order to secure and grow the network, Bloom Token (BLT) is needed to be staked (tied up) in order to generate a BloomID.

The initial staking fee is .1 BLT. Modifications to this fee will be open to a community vote.

This is returned after 1 year. You do not lose / spend BLT.

Partnerships, User Growth & The Phase 2 Release

Bloom is rebuilding the global credit infastrucutre.

Bloom’s vision of creating a global ecosystem will only be achieved with large scale community support. The Bloom protocol isn’t controlled by one government, one state, one bank, or one company, it’s controlled by everyone.

We are heads down in further partnerships, growing the accessibility and preparing for a Phase 2 release.

Phase 2 will further build out BloomID to allow you to verify information about yourself. This BloomID will be attestation-based, allowing for additional identity assurance. It will also expand the number of data types that can be attached to a BloomID, increasing its robustness, further reducing fraud, and securing the Bloom network

We’re Hiring!

Right now, the Bloom team is small and tasks are broadly spread among the team. As a result, responsibilities of design, growth and protocol development are shared among team members.

Given our focus on deploying live, Mainnet code as early as possible, we’re actively looking for a few development roles.

To apply, please read our full hiring post here.

You can submit an application to: Jobs@HelloBloom.io

Learn More:

Take control of your credit and identity

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