Initial Token Distribution
Last updated
Last updated
20% of the initial supply has been distributed to the team to engage them in the long term success of Blueprint. The team allocation is balanced between veBLUE (12%) and $BLUE (8%) vested tokens.
The core team members will have their interests align with Blueprint by receiving a percentage of the initial supply in the form of voted escrow tokens. This allocation allows team members to participate in the upside of the protocol while having a long-term oriented position.
First, core team members will vote for core pair gauges at Blueprint's inception in order to achieve the goal of deep liquidity and extremely low slippage for high volume pairs that are not backed by bribing entities. These will include $wBTC, $ETH, $USDC and $BLUE denominated pairs. Second, this initial allocation ensures that the core team has enough initial control over the protocol to achieve the original vision of Blueprint. Without the traditional veToken rebase common on ve(3,3) DEXs, the team's voting dominance will only last for the early stage of Blueprint's life cycle.
To add an extra degree of protection and prevent team members from behaving maliciously, the initial veBLUE team allocation will be kept under Blueprint’s multisig. Additionally, since the veBLUE holders are entitled to the protocol revenue through bribes and fees, we choose to balance the team allocation with vested $BLUE tokens. Thus, we encourage a fair distribution of revenue among the stakeholders.
Team allocation balance between $BLUEand veBLUE:
60% as veBLUE locked for 2 years
40% as $BLUE vested 1 year linearly
12.5% of the initial supply is allocated to a veNFT sale. The proceeds of this sale will be used towards bluechips to feed initial native $BLUE liquidity pools, start an Ethereum mainnet branch of the Stabl Labs treasury to manage operating expenses, and other tasks necessary to begin Blueprint operations.
veBLUE Partner Protocol Delegation15% of the initial supply was dedicated to protocols that demonstrate their willingness to engage with our liquidity layer. When evaluating the available protocols, we examined a wide range of factors, such as committed TVL, trade volumes, and product.
Unlike traditional ve(3,3) DEXs, this allocation was not airdropped to partner wallets.
We have seen among other DEXs that partners have occasionally stopped contributing to the success of their partner DEX. Unfortunately, the airdrop has been made and the partner can still continue to extract value from the protocol while committing nothing in return.
To combat this unfortunate reality, all partner veNFT allocations will be delegated instead of airdropped. This way, if a partner decides to no longer drive the success of the Blueprint ecosystem, their veNFT delegation can be removed. Additionally, if a partner increases their contribution to the ecosystem, their delegation can be increased.
This ensures alignment of partners and protocol to Blueprint's success.
15% of the initial supply has been allocated to an airdrop before the launch of Blueprint. The airdrop was geared towards giving loyal Retro participants a starting position in Blueprint, as a token of appreciation to Stabl Labs' extensive support in launching Blueprint.
32.5% of the initial supply was dedicated to a specific fund that will be used to support a wide range of projects that aim to accelerate the growth of Blueprint. These grants can go towards incentivizing lockups, LPs, and shortlisted projects to receive significant backing from the core team (smart contract development, marketing, business development, etc).
5% of the initial supply is to be been paired with $USDC & $ETH to provide enough liquidity at launch.
