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Blast Gold: Distribution 2

Blast Gold: Distribution 2

Blast2024/07/11 07:11
By:Blast Foundation

10 million Gold will be given to Dapps on Blast next week. We've introduced a new Incentive Weight for this distribution, and we're sharing the criteria in advance so Dapps can improve their incentive design ahead of time. As a community member, you can report any suspicious Dapp gold distributions and provide general feedback here .

Separate from Dapp Gold distributions, Gold will be allocated to token and NFT projects on Blast via a new mechanism in the near future.

Methodology

Dapps live on Mainnet were weighted based on the following formula: Category Weight x Blast-native Weight x Dapp Weight x Incentive Weight (new).

Dapps will receive a pro-rata portion of the 10 million Gold based on their final weights.

Category Weight

Category Weight
Spot Dex 6
SocialFi 4
Lending 3
Perp Dex 3
GambleFi 3
GameFi 3
Misc 2
NFT Infra 1

Some categories were not allocated Gold this round, but still contained promising Dapps. We allocated an amount of either 500 or 2000 Gold to those Dapps.

Blast-native Weight
Dapps were assigned weights of 1, 1.5, or 2 based on their exclusivity to Blast:

- 2 for Dapps exclusive to Blast
- 1.5 for Dapps primarily on Blast but available elsewhere
- 1 for Dapps available on multiple chains

Non-native Dapps that shift their focus to Blast can increase their Blast-native Weight over time. 

Dapp Weight
Dapps were assigned weights of 0 (Unranked), 1 (Bronze), 5 (Silver), or 10 (Gold) based on:

- On-chain traction
- Use of Blast-native yield
- Use of Blast-native gas fee sharing
- Use of Blast Points API
- General execution (clear communication, lack of security incidents, etc)

Dapps that had significant security incidents or negative community incidents received a weight of 0 this round. However, Dapps that learn and improve over time have the chance to earn Gold in future rounds.

Some Dapps did not have enough traction to be weighted this round, but still seemed promising. We allocated an amount of either 500 or 2000 Gold to those Dapps.

Incentive Weight
The Incentive Weight assesses Dapps' effectiveness in distributing gold to users, rated from 0 to 1. Ahead of the distribution, we're highlighting common issues so Dapps can refine their incentives and achieve full scores. Dapps that improve their design before next week's distribution can reach a full score. Here are typical issues and suggested adjustments.

Issue 1: Incentivizing project’s token or NFT with Gold (i.e. Gold for holding, staking, or LPing project’s token).

Suggestion: Provide a capped multiplier based on token holdings/NFT holdings/LP positions, but do not directly incentivize token holdings with Blast Points or Gold.

Philosophy: Creating liquid proxies for Points/Gold before redemption in May is prohibited. We understand this may pose challenges for Blast-native asset holders to earn Gold. We'll reserve a dedicated Gold portion for active Blast-native token/asset communities in future allocations.

Issue 2: Using Gold to directly incentivize revenue or allowing Gold to be effectively purchased through a fee (i.e. exchange that incentivizes volume while having a trading fee).

Suggestion: Delay revenue until after Gold/Points redemption, or redirect revenue back to users until Points redemption. If your protocol is an exchange then incentivize liquidity or PNL instead (note that teams can still incentivize revenue using their own incentives, just not with Blast Gold/Points). Teams are welcome to reach out to the Blast contributors for assistance. 

Philosophy: Gold serves as incentive fuel for teams to expand their market presence. Teams leveraging Gold for growth can later capitalize on that growth post-Points redemption. The envisioned cycle is Gold -> protocol expansion -> Points redemption -> monetization. Protocols aiming to monetize during Gold distribution should employ distinct incentives apart from Blast Gold. We have seen protocols on other chains “farm the farmers” with predatory incentive models and we are dedicated to avoiding that on Blast ( more context ). 

Issue 3: Suspicious distributions (i.e. allocating large amounts to insiders/KOLs non-transparently).

Adjustment: Distributing fairly and transparently to platform users and liquidity providers for platform growth. There should be equal opportunity for all even if the outcomes are unequal. 

Distribution

CSV link - https://docs.google.com/spreadsheets/d/15BgYTA-plyDlxSkPpBb3NcSkJAr4KEmTZRRUYDkDkRI/edit#gid=0  

If you're eligible for Gold and on the list, please complete this form . You must provide a contract address with the Blast Points API successfully integrated and the configured points operator. Both are required to be included in your public documentation on your official website.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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