PRESS RELEASE
Rodney Bay, Saint Lucia, June 4th, 2024 - Chainwire
BlastOff, a revolutionary LaunchPad and Yield Aggregator on the Blast network, is preparing to list its native token, $OFF, after a successful Initial Dex Offering (IDO).
Key Accomplishments of BlastOff:
Award-Winning Innovation:
BlastOff's groundbreaking concept earned it second place in the prestigious Blast Big Bang event, showcasing its innovative approach.
Strong Testnet Performance:
With $24 million in Total Value Locked (TVL) on the testnet, BlastOff demonstrated impressive user engagement. The launch of more profitable vaults on the mainnet is expected to match and exceed this performance.
Solid Community Foundation:
BlastOff boasts over 100,000 active followers across multiple platforms, highlighting its strong user base.
Extensive Network:
BlastOff has formed 36 strategic partnerships within the DeFi industry, providing crucial resources and expertise for its growth.
Sold-Out IDO:
The IDO for $OFF was a complete success, indicating significant participation and confidence in the platform.
Understanding the Blast Network
BlastOff is built on the foundation of the Blast network, an Ethereum Layer 2 (L2) solution that goes beyond traditional L2s by offering native yield and automatic compounding. Key features include:
Auto Rebasing:
Users can benefit from compounded interest without manual intervention.
L1 Staking:
Additional yield is generated on Blast's Layer 1.
T-Bill Yield:
MakerDAO's T-Bill protocol is utilized to generate extra yield for USDB, Blast's auto-rebasing stablecoin.
Revolutionizing Initial Dex Offerings (IDOs) with Native Yield IDOs (YIDOs)
BlastOff introduces Native Yield IDOs (YIDOs), a concept that allows users to stake ETH or stablecoins to generate yield and support new projects without direct capital investment. The benefits of YIDOs include:
Potential for passive income generation.
Early access to new projects.
Portfolio diversification.
YZone - Elevating Yield Generation
YZone, an innovative yield aggregator within the Blast ecosystem, aims to surpass Blast's native yield by executing strategic collaborations with Governance. Yield opportunities are categorized based on risk profiles. For more details, visit the website.
Access Unrealized Yield with the Future Yield Minter Vault
The Future Yield Minter Vault enables users to stake ETH and mint up to 5 years' yield initially, with the possibility of extending it to 10 years. This seamlessly integrates with Blast's DeFi ecosystem.
$OFF Token Utilities
The utilities associated with $OFF are designed to share value with the most active and loyal participants of the BlastOff ecosystem. By staking $OFF, users amplify their Blast Force Score, unlocking various benefits across different aspects of the platform, including:
YIDOs:
Higher allocations for automatic participation.
Native Blast Staking:
Lower fees for yield generation.
YZone:
Potential for higher yields and lower fees.
Governance:
Influence over YZone Vaults and YIDO deal flow.
Community Incentives:
Actively participating users are rewarded with $OFF tokens, fostering community engagement and contribution.
Treasury Revenue Share:
Rewards for active participation.
Yield Boost:
Increased earnings in YZone.
Project Benefits:
Fundraising Potential:
Projects leveraging the BlastOff platform can raise more capital through YIDOs.
Exposure to a Wider Audience:
Launching on BlastOff allows projects to reach a broader audience.
Streamlined Fundraising Process:
BlastOff offers a user-friendly platform for projects to efficiently conduct their IDOs.
Team and Token Information
The BlastOff team consists of 8 experienced veterans in Launchpad and DeFi integration. They have been building and managing Launchpads since 2021.
BlastOff's native token, $OFF, will be officially listed on the following exchanges: Thruster, Gate, and MEXC.
Token Ticker: $OFF
Token Chain: Blast, Polygon
Total Supply: 10,000,000
Initial Mcap (excluding liquidity): $232,500
Listing Date: June 5, 2024, at 10 a.m. UTC
Listing Price: $0.4
Market Makers: Trireme Trading
For updates, users can follow BlastOff on their social media channels:
Website
Telegram
Telegram ANN
Discord
Gitbook
Blog
Contact:
BD & Comms
Oliver Mills
BlastOff
This is a press release. Readers are advised to conduct their own research before taking any action related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.