BLIP2: Recommendation to Blast Foundation Regarding Use of the Points Program to Create Aligned Incentives

Progress Council
53

Max send it! How can we vote?

2 Likes
54

Really good decision. It will motivate more people to hold the tokens and a good way to improve the network. As a holder I would 100% love this decision.

3 Likes
55

Give it also a multiplier in points.

2 Likes
56

While it seems nice to put this idea to the community as a vote, I think it is fair and sufficient for the administration to vote on such necessary moves.
We need to take action as soon as possible and do what is in the best interest of $Blast.
Also, since TGE, those who deserve it but donā€™t keep it and sell it should be rewarded as this should have been done from the beginning.
I may have a suggestion for evaluation as follows;
1- 1x multiplier for those who sell after TGE
2- 3x multiplier for those who hodl $Blast

2 Likes
57

Why do we need to wait the 15? if we take decision in 2 weeks for everything ultra important like that people will just leave blast and never comeback , they see no usecase to $blast token , i mean this should be from the start , we need to speed up this proposal to one week

2 Likes
58

I agree with the sentiment this should have been implemented on TGE. I do like how this demonstrates the workings of both councils in an easy jet important enough blip for users to actually participate in the discussion. Do think the check and balances system of a council can be slow as is demonstrated by the timeline of this implementation, would love to see a mechanic for speeding these kind up proposals up, maybe retrospectively voting by the Token council?

3 Likes
59

Agreed. Donā€™t let needless bureaucracy get in the way of delivery.

2 Likes
60

This should have been a consideration from day one. If there is no incentive to hold blast but incentives to hold Eth, then $blasts valuation will go down while everyone converts to Eth to get the yield.

This needs to be shipped asap 2 weeks seems a long time for something that people were expecting day one

2 Likes
61

I agree with the proposal. $BLAST holders shouldnā€™t be incentivized to sell their tokens in order to earn points.

1 Like
62

As part of this proposal, will holding $BLAST also earn Scratch Tickets? I would like that.

3 Likes
63

This obviously is a good and a welcome proposal that will not only drive the price of blast but also the eco-system at large. However my suggestion comes with a caution for fairness. There is a large sum of blast already in the hands of a few people. This will create a cycle of were the blast points keeps going to the hands of the same peopleā€¦to solve this a maximum cap of 50,000 to 100,000 blast should be the height in generating blast points, For the sake of fairness.

1 Like
64

+1 on the no-brainer. It is a sensible proposal with near zero cost to the community and plenty of upside, including incentivising HODLing and engagement.

My only caveat would be that holding would also be defined as LPing $BLAST or wrapping in Wassabi etc too.

A multiplier for holding since TGE seems like a nice touch, as does some way to reward voting on matters like this, preferably before that itself becomes gamed.

I can see both sides to the two-week wait. There isnā€™t much point in waiting two weeks when it seems such an obvious omission, but it does allow a test run of the governance process.

1 Like
65

Yep, make sense.
Also, what about voting for sharing Blast points and Blast gold between Blast dApps. I think Blast holders can do it too.

1 Like
67

Agree, $blast need to be considered and incentived

1 Like
68

Keep in mind this pulls away from vaulting, LP, and utilizing the $BLAST token within Dapps.

1 Like
70

I 100% agree with @k2_crypto that $BLAST should get a significant Points multiplier

Itā€™s riskier to hold than ETH/USDB and itā€™s the native token, makes no sense to give it the same value as the base assets

6 Likes
71

Good proposal, i think it could be implemented faster than 2 weeks and should be

2 Likes
72

As $BLAST is the native token for BLAST L2 i believe that it should give holders more points (compared to USDB and ETH). This will give users a better reason to HOLD a more VOLATILE token than USDB to gain points. Additionally, native yield for ETH and USDB (3 and 5-8% respectively), should also be implemented for $BLAST, the token should be getting similar and BETTER treatment to further incentivize users to keep holding it.

2 Likes
73

Agree 100% we need more reason to hold BLAST

3 Likes
75

To align incentives even more the blast foundation could have a layered multiplier:

  1. Holders of Blast: 2x multiplier
  2. Stakers of Blast (wasabi, any other platform) 4x multiplier
  3. Time locked stakers (30 day +) 6x multiplier

This will take more blast token to diamond hands who are happy to stake and get yield and get a multiplier.

2 Likes