BLIP - Monthly Airdrops and Deck Jackpot

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 suggests transitioning from an annual airdrop distribution to monthly rewards for Blast Chain users. Additionally, it introduces the Deck Jackpot, allocating a portion of the airdropped tokens to a jackpot with daily or weekly winners. These changes aim to enhance user engagement, increase farming activity, and stimulate ecosystem growth. The impacted stakeholders include all current and future users of the Blast Chain.

Motivation

The rapid pace of the cryptocurrency world necessitates frequent engagement to maintain momentum. Waiting for a year for rewards diminishes user interest and activity. Monthly airdrops will provide users with regular incentives to farm and participate actively on the Blast Chain. The Deck Jackpot will further increase excitement and attract more users, including degens, to the ecosystem. This proposal aims to flip Blast Chain into a leading position by boosting user activity and engagement.

Proposal Details

Monthly Airdrops

Instead of distributing 10 billion $BLAST tokens over a year in one phase, this proposal recommends breaking this down into monthly airdrops. Each month, users will receive a portion of the 10 billion $BLAST, amounting to ~$17.5 million USD worth of tokens monthly. This frequent distribution ensures users have consistent capital to farm, maintaining high levels of activity.

Deck Jackpot

We propose allocating 10-50% of the airdropped tokens to a Deck Jackpot. This jackpot will have daily or weekly winners, creating a constant buzz within the community. Even small, frequent wins will keep users engaged and attract degens to participate more actively, creating more memecoins and boosting overall ecosystem excitement.

Implementation

  • Monthly Airdrops: Distribute a portion of the 10 billion $BLAST tokens each month. Implement the necessary smart contract changes to automate these distributions.
  • Deck Jackpot: Allocate 10-50% of the airdropped tokens to a jackpot. Implement smart contract logic to handle daily or weekly draws and distribute winnings.

Timeline

Starting July (ASAP)

  • Month 1: Begin monthly airdrops.
  • Month 1: Introduce the new Deck Jackpot, with the first draw occurring by the end of the month.

Contingency Plans

  • Smart Contract Audits: Ensure all new contracts undergo thorough audits before implementation.
  • Feedback Loop: Continuously gather community feedback to make necessary adjustments and improvements.

Associated Costs

0 as its all coming from Airdrop Allocation

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.

1 Like
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I dont like the idea that there is a monthly $blast token entering the market, its bad for price discovery cause people are gonna wait till the flow is cleared before buying

issuing magic internet money like gold and point is fine.

3

I believe monthly may be too frequent leading to subsequent drop offs when rewards don’t align to expectations (as they usually do not).

I’m not against more frequent distributions…just not too frequent. Maybe would consider stretching to quarterly or per half.

Good thoughts here.

1 Like
4

I think it would be better to scrape the idea

5

I’m not convinced this will incentivize the right behaviour.

Ultimately we want users to use it for the optimal UX; using Blast for its key value propositions (e.g. native yield or innovative dApps) or accumulating Gold (assuming this continues) as a supplement to sustainable use rather than incurring a loss throughout just to obtain a $Blast liquidity event isn’t the answer for its long term success.

I think using Gold to incentivize real innovation from dApps to attract users because of the underlying product is a better way of doing without increasing the supply on the market in the meantime.

6

agree with s4mmy, lets hold our horses for now