Last week, our Liquidity Launch Event concluded and over $9M worth of assets were migrated to MIMSwap. With this migration, 71% claimed their founder status which resulted in $4M magicLP locked for 3 months.

We are happy to say that points distributions will now restart regularly, thanks to the full update that our infrastructure just received! Let's dive into it!

Founder Boost Countdown

For the next 8 days, users may lock their MIM/USDB LP position and join the other founders to also tap into the 20% boost. Once these 8 days pass, your opportunity to get the Founder’s bonus is gone, and you will never be able to achieve it again.

The first Founder’s Boost distribution will happen as soon as Phase 3 finishes in 8 days.

Once the countdown finishes, no more Founder’s can join and the distributions start.Note: After Phase 3 ends, Founders will not be able to add more LP to their founder’s amount. As a Founder, you will still be able to add more LPs, but those will not enjoy the boosted rewards of your initial deposit. This system is designed to be difficult to Game, and only allow those who are locked at the end of Phase 3 to enjoy the Founder’s Boost!

Point Distribution Details:

Our UI has a page, dedicated to all points that users can earn with us, in the Blast ecosystem.

Points Dashboard

Currently it has three sections:

• Cauldron Users

• Liquidity Providers

• Founder Boost

Depending on what actions you take in our ecosystem you can check the rate of Points, Gold and Potions, distributed towards them.

If you provide MIM/USDB Liquidity on MIMSwap and stake it, you will see the amount of rewards earned and to be distributed as well as the total amount of points to be distributed to the whole pool.

You can switch between the different rewards earned for each of the sections, by clicking on the three tabs within the bubble. Each tab will be specific for that reward system, and it will show users how many Blast Points, Gold points, and Potion points they have farmed, how much the total amount of points for that pool is, and how much their upcoming distribution will look like.

Rewards Schedule:

-99,593 Blast Gold

-90,000,000 Points

Founder Distributions: 20% of all rewards

-38,620,000 Blast Points

Currently 20% of all points accrued by the protocol are allocated to the Founder’s Boost. To date, the protocol has amassed 192,000,000 Points of which 38,620,000 have been earmarked for the Founder’s boost. Points are continuously increasing and will be distributed once all Founders are locked in, at the end of Phase 3 (8 days).

You can expect one large airdrop distribution of Points once Phase 3 concludes, afterwards Points will be distributed at an hourly interval.

-19,918.60 Blast Gold

20% of the total Gold obtained by the protocol will be distributed to the Founder Boost. So far the protocol received 19,355 Gold from the Big Bang Competition and 80,238 Gold from the first Gold distribution. Once Phase 3 concludes, a total of 19,918.60 Gold Points are earmarked to be distributed towards the Founder’s Boost. This will be the first of many airdrops dedicated to the Founder’s Boost. As the protocol obtains more Gold, the distributions will continue to occur.

Founder’s rate:

Once Phase 3 concludes this rate will showcase the hourly rate that flows towards the Founder’s Boost. In the beginning, there will be multiple one-time Gold airdrops until all distributions are in sync.

Gold Airdrop for loyal Early Birds:
Lastly, we would like to show a token of appreciation for all of the users that have been consistently staking their funds during the entirety of the LLE and then opted in the founder’s bonus.

If your address has joined the LLE before the start of phase 2, then migrated their funds to MIMswap, and locked the received LPs for 3 months, you will be getting your share of an additional 1k GOLD aimed at rewarding your longlasting trust!

This additional GOLD will be distributed after phase 3 has ended.

Liquidity Provider Distributions: 80% of current Gold & Points Batch

-51,460,000 Blast Points

103.1M Points have already been distributed within our ecosystem, leaving approximately 51.46M Points. These points will keep flowing towards users of the Abracadabra ecosystem, incentivizing actions that are beneficial for Abracadabra and MIMswap LPers and Cauldrons users alike will keep receiving points, at preferential rates depending on the actions they have taken

This process might change as time goes on, and Abracadabra products evolve more around the Blast Ecosystem..

-78,877.656 Blast Gold

For the current batch of Gold, roughly 80% of the total Gold amount will be distributed towards MIM/USDB Liquidity Providers. The distributions will happen on an hourly basis.

User’s who have obtained the Founder’s Boost will also receive these Liquidity Provider Distributions. This means that as a Founder, you are getting the Base gold rewards you would be getting as a normal LPer, and then on top of it, you are also getting your founder’s boost. These different layers of rewards are designed to incentivize to the maximum possible extent users who lock their LPs and become founders.

Future GOLD Distributions

Updates and news come quickly to the Blast ecosystem, and as such, our DAO is doing its best to keep up with them. Despite this, a lot of uncertainty revolves around the schedule at which future GOLD airdrops will be given to Abracadabra DAO from the Blast team, and therefore how Abracadabra will distribute those GOLD to the end-user.

One thing is certain though: GOLD will be the pivotal engine that will fuel and incentivize users that take part in our ecosystem. GOLD will be fully distributed to the active users of Abracadabra Products.

We are very excited to see how Gold distributions will help shape the future of Abracadabra on Blast. All of our systems are designed to be fully compatible with the upcoming Blast token launch.

Potion Points

Lastly, our team is working hard to prepare for the arrival of Potion Points, Abracadabra’s own point incentives system.

Potion Points distribution will also be designed to make sure that LPers and users are correctly incentivized, as well as to properly reward Founders for their leap of faith towards the DAO.

Potion Points will ultimately turn into SPELL airdrops, allowing Blast to become the first ecosystem to enjoy the novel SPELL bridging solution powered by Layer Zero technology.

More information on Potion Points is coming soon, and we thank our community for the patience they have while we finalize the whole system.