Yield Farming and Passive Staking Goes Live (2021-03-29)
As of 18:00 UTC 03/29/2021 yield farming goes live on BLZ. A 2x multiplier will be in effect for the first two months.
144,242,427 tokens have now been allocated for distribution to Uniswap liquidity providers over the next 6 months. This allocation represents approximately 22% of total supply.
Over 60% of BLZ tokens are now locked in contracts.
At the moment of writing, 143,558,533 tokens are locked in Uniswap liquidity for 6 months and 113,284,833 locked in a slow release bounty contract.
144,242,427 (Yield Farm)
+143,558,533 (Unicrypt Locked Liquidity)
+113,284,833 (Locked in Bounty Contract)
663,101,013 (total supply) =
There will now be two ways to benefit from holding BLZ: Passive Staking for players, and Yield Farming for holders.
To stake passively, one must only hold 1,000,000 BLZ or more in their wallet and register that wallet by clicking on the login button at the bottom of this page. Passive stakers will receive 9 riddle tokens per-riddle per 1,000,000 tokens held. This is enough to buy a map and reveal one hint per-riddle.
1,000,000 - 1,999,999 BLZ = 9 tokens
2,000,000 - 2,999,999 BLZ = 18 tokens
Until further notice, these will be disbursed into your Iscariot account at the start of each riddle, though in the future disbursal may be based on average BLZ held between riddles or by some other loyalty based formula.
Liquidity Providers can stake their LP tokens here to receive block rewards. Rewards are 90 BLZ per-block with a 2x multiplier in effect for the first 2 months. You can purchase BLZ and pool it to acquire liquidity tokens on Uniswap. APY will be updated in the Unicrypt app.
This is a system designed for the benefit of both players and holders. The aim is to increase liquidity and reduce bounty selloffs to allow an increasing token value, while eliminating gas fees for dedicated crypto-mystery players. To aid in this, we have reduced per-riddle bounty selloffs massively. Instead of the original 27,272,727 BLZ bounty allocation, we have reduced it to 3,333,333 BLZ+ ETH transfer fees (maximum 6,666,666 total, with unused BLZ rolled into liquidity periodically). If both token price and liquidity increase, we will see the value bounties rise without the rug-pull effect of the larger selloff into a smaller liquidity pool.
Enough said. Now let the farming begin.
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