Phase 2 Points and Gold for Users

Blast Foundation

Jul 2, 2024 • 5 min read

Don’t want to read? Join the first Phase 2 Community AMA in Discord tomorrow, July 3 at 12PM ET.

Note: the purpose of this blog post is to provide clarity on Phase 2 for users. A blog post providing clarity for Dapps will be shared later this week, before the first Phase 2 Gold Distribution which goes live July 8.

Similarly to Phase 1, Phase 2 is split between Blast Points and Blast Gold. 10 Billion BLAST has been allocated for Phase 2 rewards. The primary purpose of Phase 2 is to support the development of mobile Dapps and incentivize users to those Dapps via the Blast App.

Blast Points

50% of Phase 2 rewards (5 Billion BLAST) are allocated to Blast Points. Users can earn Blast Points based on ETH, WETH, USDB and BLAST (pending BLIP-2 Progress Council vote) balances. EOAs and smart contracts earn Points at a rate of 0.06504987 Points/Block/ETH (each block is 2 seconds). USDB and BLAST earn Points at the same rate as ETH based on their price in terms of ETH. Ie if ETH is $3500 then USDB would earn Points at a rate of 0.06504987 Points/Block/3500 USDB.

Phase 1 Vesting - The Phase 1 vesting threshold is unique for every vested user based on their Phase 1 activity. As a rough approximation, it was set to 80% of the rolling average of the vested user’s Points in Phase 1, excluding multipliers. Ie if a user was earning on avg 1000 Points per day in Phase 1 before multipliers were applied, their vesting threshold would be 800 Points per day in Phase 2. This means vested users need approximately 80% of their Phase 1 liquidity to hit their threshold, and with the approval of BLIP-2, that number will be even lower since BLAST balances will contribute to the threshold as well. Furthermore, vesting is based on the pro-rata amount of Points earned, so if a vested user only reaches 50% of their vesting threshold in a given month, they will still receive 50% of that month's unlock. Note that Points from Golden Tickets do not contribute towards the vesting threshold.

Blast Gold

50% of Phase 2 rewards (5 Billion BLAST) are allocated to Blast Gold. Dapps can earn Gold based on their traction on Blast Mainnet and from future Big Bang competitions. Here are the key details for Phase 2 Gold:

There will be one Gold distribution the first week of every month (with the exception of the first Gold distribution which will go live July 8).
There will be separate allocations for new and existing Dapps in order to give new Dapps a higher chance of gaining visibility and success (new Dapps can connect with the Blast Foundation via this form).
There will be more Big Bang competitions to incubate new Dapps (especially mobile Dapps).
Dapps will be expected to outline the criteria for Gold extremely clearly.
Dapps will be expected to distribute all their existing Gold before receiving their next Gold distribution.
Dapps that use BLAST itself in a novel and significant way will receive a boost in Gold distributions.
A primary focus of Phase 2 will be on mobile Dapps within the Blast App.

While the Blast Foundation will continue to distribute Gold in Phase 2, we want to include more direct community feedback and improve the transparency of the process. Users can share feedback on new and existing Dapps directly in the governance forum which will be actively monitored and reviewed ahead of every distribution. Dapps can improve their rankings by publicly sharing transparent data dashboards and explicit Gold distribution mechanics and calculation formulas. Dapps can share this with their own community as well as post it in the governance forum so that users can participate in the discussion and provide feedback.

Golden Tickets

To accelerate and reward users for the adoption of the Blast App, users that have installed the App will earn Golden Tickets based on their ETH, WETH, USDB and BLAST (pending BLIP-2 Progress Council vote) balances. Golden Tickets give users the opportunity to earn more Points and Gold, along with Blast hoodies and Cybertrucks. Users with the Blast App will earn Points at roughly 2x the rate of users who don’t have the Blast App, even excluding the other rewards.

Jackpot

The Jackpot will continue in Phase 2 and function similarly to Phase 1. However, less Gold will be allocated to the Jackpot in order to give more Gold to Dapps and Big Bang competitions. The Jackpot will hit less frequently as well, with more weight given to high quality assets belonging to strong Blast-native communities and projects.

Multipliers

Multipliers allow users to increase their Points by using featured Dapps on Blast. Multipliers will still exist in Phase 2, but their mechanics will be changed based on learnings from Phase 1. More will be shared later.

Invites

Only new users invited in Phase 2 will contribute towards invite bonuses in Phase 2. Invite bonuses are currently inactive and a new invite bonus will be launched with the release of full wallet functionality within the Blast App in Q4. Users who invite new users to Blast in the meantime will have their new invite bonuses applied retroactively with the launch of the Blast App incentives.

Phase 2 FAQ

Will I continue to earn Golden Tickets if my assets are in Dapps and not in my wallet?

Yes, Golden Tickets are earned based on Points earned meaning having assets either in Dapps or in your wallet will earn the same amount of Golden Tickets. However, Golden Tickets can only be earned if you have the Blast App installed.

Do I still earn rewards for Phase 1 invites?

Only new users invited in Phase 2 will contribute towards invite rewards. The invite mechanism is not active for the start of Phase 2. There will be a new mechanism launched with the upcoming wallet launch within the Blast App in Q4. Invite rewards will be retroactively applied for new users invited during Phase 2 once wallet functionality is live.

Is BLAST eligible for the Gold Jackpot?

Instead of earning Gold via the Jackpot, BLAST holders will earn Points at a constant rate, similar to ETH and USDB (pending BLIP-2 approval). More Gold will also be allocated to Dapps that incorporate BLAST into their products as well.

Why is Phase 2 twelve months long?

The primary purpose of Phase 2 is to support the development of the Fullstack Chain. This will take time, both to create the initial infrastructure (the first of which being the Blast App), and to support Dapps in building new applications on top of that infrastructure. The Blast Foundation expects that 12 months will be required to accomplish that goal. However, if progress proceeds faster than anticipated, the Blast Foundation is open to reducing the timeline in the future.

Have more questions? Join the first Phase 2 Community AMA in Discord tomorrow, July 3 at 12PM ET.