# BLIP - Attracting Memecoin Traders to the Blast Ecosystem

BLIP - Research and Discussion
1

Proposal Type

Governance proposals must fall under one of the categories set forth in Section 4 of the Blast Foundation’s Governance Bylaws.

Executive Summary

This proposal aims to create incentives and strategies to attract memecoin traders from other chains, such as Base and Solana, to buy and hold Blast ecosystem memecoins, Andy and Pacmoon. By leveraging the potential of memecoins and increasing their market share, we aim to significantly enhance the overall value and activity of the Blast ecosystem.

Motivation

Memecoins have proven to be a driving force in various blockchain ecosystems. Base chain, for example, has 59% of its ecosystem value attributed to memecoins, making up a substantial portion of its $3.8 billion value. In comparison, the Blast ecosystem, with a total value of $5.0 billion, has only 0.5% in memecoins. Despite Blast’s similar revenue to Base and Arbitrum and its short time live (7 months), it has significantly less mind share. Increasing the market share of Andy and Pacmoon can unlock immense potential for growth, engagement, and community building.

Proposal Details

Incentives for Memecoin Traders

  1. Staking Rewards: Implement a staking program where users can stake Andy and Pacmoon to earn $BLAST tokens or other native tokens from new dApps.
  2. Liquidity Mining: Provide liquidity mining incentives for traders who add liquidity to Andy and Pacmoon pools on decentralized exchanges within the Blast ecosystem.
  3. Exclusive Airdrops: Conduct exclusive airdrops of new memecoins and other valuable tokens to holders of Andy and Pacmoon.

Marketing and Community Building

  1. Influencer Partnerships: Partner with prominent crypto influencers to promote Andy and Pacmoon, creating hype and awareness within the crypto community.
  2. Community Events: Organize community events, such as trading competitions, meme contests, and or NFT giveaways, to engage and reward the community.
  3. Educational Campaigns: Launch educational campaigns highlighting the potential and benefits of investing in Blast ecosystem memecoins.

Strategic Development

  1. Cross-Chain Integration: Explore cross-chain integration opportunities to make it easier for traders from Base, Solana, and other chains to participate in the Blast ecosystem.
  2. Ecosystem Collaborations: Collaborate with other projects within the Blast ecosystem to create synergistic value and increase the utility of Andy and Pacmoon.

Implementation

Timeline

  • Week 1: Develop and audit smart contracts for staking and liquidity mining programs.
  • Week 2: Launch marketing campaigns and initiate influencer partnerships.
  • Week 3: Begin staking and liquidity mining programs, conduct the first round of exclusive airdrops.
  • Week 4: Organize community events and continue educational campaigns.

Contingency Plans

  • Smart Contract Audits: Ensure all smart contracts undergo thorough audits before deployment.
  • Feedback Loop: Collect community feedback to refine and improve the incentive programs.

Prior Proposals

This is the initial submission of this BLIP.

True and Complete

By submitting this BLIP, I represent and warrant to the Progress Council and the Blast Foundation that all the information it contains is true and complete to the best of my knowledge.

We need more ideas, suggestionts, and implementation towards current memecoins ecosystem on Blast! This is how we attract and take Base and Solana users

$ANDY and $PAC deserves to be in BILLIONS

3 Likes
2

Agree on the importance of getting more mind share for Blast memecoins.

But also worth noting a key value prop for Solana memecoins is the lack of friction to get there - to attract the same retail user it needs to be easier to onboard your typical retail trader into the Blast ecosystem.

Bridging alone is an alien concept for most - get an onramp direct from a CEX or privy wallet setup from a Google Account with perhaps a portion of the gas fee rebate used to subsidize the first 20 txs on the chain could help reduce this barrier to entry.

2 Likes
3

I can understand where u r coming from but i think meme culture has to be organic

case and point: look at avalanche

4

I disagree with the proposal. The Jackpot mechanism already incentivizes memecoin traders to buy memecoins on Blast. There’s no need to give out $BLAST directly to holders of specific memecoins.

5

Didn’t Avalanche set up a $100M cultural fund which included a memecoin allocation?

1 Like
6

my point is that it didnt work for avalanche so it wouldnt work for blast

7

Excited to see if the wallet in Q4 helps with this type of friction and what functionality will be there.

One of the reasons why I like transacting on Solana is because Phantom’s experience is super seamless. Easy to bridge, general swaps, etc. I think there is a real opportunity to bring that type of experience to Blast and its what the whole point of Phase 2 is.

8

There is no denying that memecoins have been a driving force in solana’s massive growth this cycle. I think we have to decide as a community if helping one or two meme coins pop off and become widely recognized by the crypto space as a whole would be good for blast in general. The answer to this for me would be a clear yes. Based on that I agree with the proposal.