Blast Unveils Fresh Proposal, Advocating for Weekly Allocations of Fee Credits to BLAST Token Holders
In Brief
The recently shared proposal from Blast outlines plans to channel all revenue collected by the Blast Foundation Treasury directly to those holding BLAST tokens.
Network Community of Ethereum's Layer 2 Blast (BLAST) has put forward a fresh proposal that suggests redistributing all revenue accrued by the Blast Foundation Treasury, including income from USDB or wETH rebasing, gas fees, and more, to BLAST token holders on a weekly schedule.
This initiative is aimed explicitly at amplifying the appeal of holding BLAST tokens within the ecosystem, providing a competitive edge over traditional yield options like ETH and USDB, thereby enhancing user loyalty and making the network more enticing.
The proposal intends to establish a fee mechanism whereby four basis points apply to each rebase transaction. Additionally, it proposes that these collected fees be distributed to BLAST holders on a weekly basis. All other treasury-related fees, including unclaimed gas reimbursements, will also be allocated to BLAST holders weekly.
This initiative is poised to deliver multiple advantages. By providing direct rewards for BLAST holders, it aims to motivate users, potentially alleviating selling pressure and supporting a more stable token valuation. Ongoing distributions will create a consistent incentive for active involvement and community engagement within the ecosystem. It also aligns the financial incentives of BLAST holders with the broader success of the Blast network. Creating tangible benefits for holding BLAST will make it more appealing compared to conventional yield opportunities like ETH and USDB, offering users strong reasons to keep their investments.
Blast Announces Token Airdrops and Launches Next Stage of Development
Acting as a Layer 2 network, Blast features a yield mechanism for both stablecoins and Ethereum. This yield stems from ETH staking and real-world asset (RWA) protocols, distributed automatically to Blast users. Unlike other Layer 2 frameworks with a base interest rate of 0%, Blast stands out with attractive rates of 4% for ETH and 5% for stablecoins.
As of now, the platform has a total value locked (TVL) exceeding $1.28 billion, as reported by DeFiLlama.
Recently, Blast airdropped its token BLAST and unveiled the next phase The initiative highlights ongoing developments on the platform. The goal is to build an all-encompassing blockchain solution to enhance user experiences. Blast plans to roll out desktop and mobile wallets tailored specifically for cryptocurrency enthusiasts. This strategic approach showcases Blast's commitment to accelerating the shift from an off-chain to on-chain economy in the industry.
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