Introducing Universal Baseline Income (UBI) - our initiative to distribute Blast Points and Blast Gold for activities that build a broad and deeply liquid YES.
YES is entering its 3rd week of existence. There is a total of 5,107 ETH in the pool. Average daily volume is $18.6M/day with not a single day less than $1M/day. By all measures, YES-ETH has become an anchor liquidity pair for entire Blast ecosystem. This is just one example of what Baseline mechanics are capable of.
We are now ready to leverage this position of strength into supporting liquidity needs of other projects. To date, Baseline has accumulated 227.3M Blast Points, which puts us as the 7th largest Points recipient in the entire Blast ecosystem. We were also winners of Blast Big Bang Competition and will receive a substantial amount of Blast Gold. 100% of both Blast Points and Blast Gold will be distributed to the community per guidelines below.
Blast Points are for borrowing
Users who collateralize their YES holdings are contributing to a robust YES-ETH LP. To reward this behavior, we will distribute Blast Points to users based on their YES collateral holdings. Specifically, we calculate your collateral position relative to total system collateral, and distribute the points proportionally.
For example, suppose that in a given hour, Baseline received 1M Blast Points. In that hour, there was 100,000 total YES collateral, and the user below has 8,180 YES collateralized. Proportionally, they’re entitled to 8.18% of 1M Blast Points in that block.
Existing Blast Points (227.3M) will be distributed retroactively - if you borrowed anytime since launch, you will be awarded Blast Points. Retroactive distribution will occur on Monday, March 18th, at 23:59 PT.
New Blast Points will be distributed on an hourly basis. One important thing to note is that there is a 2 hour delay from the time that Blast calculates our award until we can distribute the points. So points for your collateral holdings in hour H will appear as points in your account at hour H+2.
Points will be visible in https://app.baseline.markets
Blast Gold is for liquidity
Users who pair YES against any token are contributing to making YES into a broadly liquid asset. To reward this behavior, we will distribute Blast Gold to liquidity providers of YES-X LP (excluding YES-ETH). Specifically, we calculate total volume through YES-X LP that ends in, or originates from, YES-ETH LP.
Snapshot for Blast Gold began Monday, March 18th, at 00:01 PT. Distribution will be on a weekly cadence, distributed at end of week. First distribution will be Sunday, March 24th, at 23:59PM PT.
Next steps
Keep in mind that UBI is an experiment. This means the team will continually evaluate whether YES is achieving liquidity goals and adjust accordingly. This initial plan will run through end of March (~2 weeks), after which team will evaluate and propose next set of incentives.
How to earn
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Blast Points: Buy YES and borrow ETH
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Blast Gold: Provide YES-X LP (excluding ETH) liquidity on Hyperlock
Instructions for using Hyperlock
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Navigate to https://app.hyperlock.finance/#/yes
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Make sure to turn on “Yes Mode”
- If you haven’t added LP yet, you will be asked to add LP on Thruster DEX. If you’ve never added V3 LP, see Adding V3 Liquidity on how to do so.
- After you’ve added LP on Thruster DEX, navigate back to Hyperlock and you should see your YES-X LP appear. Click Deposit, sign the transaction, and stake the LP.
- You will now receive Blast Gold pro-rata based on volume traded.
FAQ
What YES-X LP qualify for Blast Gold?
Any YES-X LP (excluding YES-ETH) qualify for Blast Gold. There are 7 partners at launch, and there will be more. Visit Hyperlock YES Partners to see all partners.
I’m a partner who wants to pair with YES. Where do I start?
Reach out to us in Discord.