π Blitz Points Program
Discover how to earn Blitz Points, Blast Points + Gold, and Claim Your Initial Drop in this tutorial covering the Blitz Points Program.
The release of the Blitz Points Page enables users to track rewards across the Blitz app and Blast ecosystem. The types of rewards displayed on the Points Page fall under 3 categories:
Blast Points
Blast Gold
Blitz Points
In the tutorial below, weβll explore the details of each type of reward displayed on Points Page of the Blitz app, including how theyβre earned and distributed.
We'll also cover how eligible users can claim their Blitz Points from the Initial Drop directly within the new Points Page.
Blast Points & Gold
The Blast team distributes two kinds of points to users and apps in the ecosystem. On Blitz, this includes both:
Blast Points: Bridged Asset Points (Liquidity Points)
Blast Gold: Developer Points
On Blitz, 100% of both Blast Points and Gold will be distributed to users. Rewards are distributed in the cadence and parameters outlined below.
Blast Points
As part of their ongoing incentives program, Blast distributes Blast Points to users of the chain -- primarily based on their TVL, amongst other factors.
Blitz will display the amount of Blast Points users have earned from their deposits on Blitz.
All deposits / collateral earn Blast Points.
The amount earned is updated every ~3 hours based on Blast API.
The points will be distributed immediately after and will be visible on the Blast Leaderboard.
The amount of βLiquidity Pointsβ (Blast Points) are proportional to a userβs contract balance (TVL).
100% of Blast Points are distributed to users based on net USD balances approximately every 1 - 2 hours on the Blitz Points Page.
Blast Gold
The Blast team distributes Blast Gold to apps and developers on the network based on the parameters and details provided in their blog post for the first distribution here.
Unlike Blast Points, Gold is given to protocols on the Blast L2 to decide how to distribute to users to help encourage growth.
Blitz has committed to distributing 100% of the Gold received from each distribution to Blitz users proportional to their Blitz Points.
Ongoing Blast Gold distributions occur roughly every 2 weeks from the Blast team.
Updates on subsequent Gold allocations to Blitz users will be publicly communicated and displayed on the Points Page shortly after they occur.
How to Earn Blast Gold on Blitz?
Increase your Blitz Points by trading and referring other users to Blitz to accrue more Gold from each distribution from the Blast team to Blitz.
After Gold distributions from the Blast team, a snapshot will be taken to determine the amount of Gold earned by each Blitz user since the previous Gold distribution.
Blitz was one of the winners of the Big Bang Competition on Blast β receiving an initial Gold allocation from the Blast team of 277K Gold.
The entirety of the initial Gold distributed to Blitz was apportioned to Blitz users on Friday, April 12th 2024.
Reminder: 100% of Blast Gold received by Blitz will be allocated to users on an ongoing basis. Please make sure to follow the official Blitz Twitter account and the Blitz Points Page for regular updates on Blast Gold distributions.
Blitz Points Program (BPP)
Blitz Points are the primary reward for in-app user activity, particularly trading, on the Blitz app. Blitz Points are primarily categorized in the following 4 buckets:
Trading Points (Taker & Maker)
Referral Points
Community Points
Initial Drop
04/15/2024: Blitz Points for active users commenced indexing and continue to be actively indexed since Blitzβs Pre-Launch Deposit Phase that began on February 29th, 2024.
The Blitz Points Page
To view your Blitz Points on the app, simply navigate to the Points Page where you will be presented with the UI display below once you connect your wallet.
Youβll notice the Blitz Points Page displays the following rewards earned:
Blitz Points (left-hand panel).
Blast Points (right-hand panel).
Blast Gold (right-hand panel) .
A breakdown of the types of points accrued for each user is also provided in the card for all 3 categories above.
Blitz Points & Gold Weightings
Blitz Points are the primary determinant of incentives to Blitz participants. For instance, Blast Gold distributions are proportional to Blitz Points
In total, a maximum of 65.13 million Blitz Points are distributed to users per week, and are broken down into:
Price Taking: 50 Million Blitz Points
Price Making: 2.63 Million Blitz Points
Referrals: Max of 12.5 Million Blitz Referral Points
The amount of Blitz Points earned by a user is updated and displayed approximately every 1 hour on the Points Page.
Trading on Blitz and using the app also earns users Blast Gold. Blitz Points accrued by users on the DEX are proportional to the amount of Blast Gold they receive for each distribution of Gold.
Blitz Points allocations are based on the following weightings per category below:
Trading Points
Blitz Points are the primary determinant of trading incentives to Blitz participants. For instance, Blast Gold distribution is proportional to Blitz Points.
Trading Points on Blitz are separated into 2 categories:
Blitz Taker Points
Blitz Maker Points
Up to 50 million Blitz Points are distributed for taking activity per week.
Up to 2.63 Million Blitz Points are distributed for making activity per week.
Blitz Points for Takers
Price taking activity is weighted per week based on the following parameters:
70% is allocated based on taker volume.
10% is allocated based on average net balance.
10% is allocated based on the average borrow amount.
10% is allocated based on average open interest.
Blitz Points for Makers
Price making activity is weighted per week, allocated based on a user's Q score.
The Blitz Maker Program offers Blitz Points (and proportional BLAST Gold incentives) based on the Q score function that prioritizes:
Market Support
Uptime
Fees
Makers will be accounts that contribute in excess of 0.25% of maker volume in a given epoch.
They will have 2 benefits:
Rebates
Points
Rebates will be calculated as 25% of taker fees β 0.5 basis points per trade. The scoring function is as follows:
The minimum depth and maximum spreads per market are as follows:
Depth:
$25K for stables.
$5K for core markets (BTC & ETH).
$2.5K for alt markets (non-BTC & non-ETH).
Spreads:
10 bps for stables.
30 bps for core markets (BTC & ETH).
50 bps for alt markets (non-BTC & non-ETH).
Trading Points for Makers may take slightly longer to update than Takers on the Points Page.
Referrals
Up to 12.5 million Blitz Referral Points are distributed per week.
Referrals earn 25% of the refereeβs Taker Points on Blitz.
To refer a user to Blitz, simply copy the unique referral code link on your Points Page and share with your friends and network on socials!
Example:
Joe refers Blitz to Sally using his distinct referral link on the Points Page.
Sally earns 10K Blitz Points trading and referring others over the course of 1 month using Joe's referral link.
As a result, Joe earns 2.5K Blitz Points over the same 1-month period from referring Sally to the Blitz DEX, who used his referral link to onboard into Blitz.
Note: Referrals do NOT include referrals of referees to prevent gaming of the program.
Community Points
Community Points are earned via the currently live and ongoing Blitz Campaign on Galxe.
You can directly access the Blitz Galxe Page here.
Participants can engage with a new set of tasks in each epoch of the Blitz Community Points page on Galxe, accruing Blitz Points for completing tasks including but not limited to:
Social Media Engagement
Reading the Blitz Docs + Content.
Completing the Blitz Onboarding Process.
Taking Quizzes About Blitz.
Depositing on Blitz.
Performing Trading & Other Actions on the Blitz App.
Referring Friends and Other Users to Blitz.
Community Points for the Galxe campaign will continue to run on an ongoing basis for the foreseeable future.
NOTE: Blitz Points will be allocated to Community Points participants on Galxe on a pro-rata basis at the end of the Blitz Points Program.
Initial Blitz Points Drop
The Initial Drop of Blitz Points incentivizes and encourages prospective users outside of Blitz to use the DEX on Blast.
Blitz Points for the Initial Drop are awarded to recipients based on various on-chain activity within DeFi, spanning areas outside of Blitz that include:
Vertex Users
DeFi Apps & NFT Communities
04/15/2024: In total, 357,288,000 Blitz Points were distributed to users in the Initial Blitz Points Drop.
Vertex Users: A portion of Blitz Points for the Initial Drop were earmarked for Vertex (Arbitrum) users, including the following user categories:
VRTX Traders
Vertex Stakers
VRTX LBA Participants
05/01/2024: The snapshot date for the Initial Blitz Points Drop for Vertex users described above has been updated to April 26th at 13:00 GMT. If you're a Vertex user that meets the criteria for the Initial Points Drop above, make sure to check the Blitz Points Page again to claim your Points!
DeFi Apps & NFT Communities: Blitz Points from the Initial Drop were also distributed to several groups of DeFi app users and NFT communities outside of the Vertex Edge ecosystem.
These Initial Drop Recipients include:
NFT Communities
Pudgy Penguins
Bored Ape Yacht Club
Wassies
Memeland's Captainz
Azuki
NOTE: The Snapshot for NFT Holders of the eligible communities and collections above was taken on the 14th of April at 21:00 UTC. Additionally, eligible NFT wallets are capped at 10 NFTs worth of Blitz Points (10K).
DeFi App Users
GMX V2 (Arbitrum)
Aave (Arbitrum)
Gains (Arbitrum + Polygon)
Hyperliquid (Arbitrum)
Wallets that fell under multiple categories earned Blitz Points during the Initial Drop for each category, resulting in the most Blitz Points going to the most active users that were eligible in multiple areas detailed above.
Initial Drop recipients will be displayed their pending Blitz Points available to claim on the new Points Page of the Blitz app.
To claim your Blitz Points from the Initial Drop, simply navigate to the Points Page on the Blitz app and you will see the UI displayed below.
β Click on the βClaim Pointsβ button if youβre eligible for the Initial Points Drop.
β You will be displayed the following page, indicating the requirements to claim your Initial Drop, which include:
Have a Minimum Account Value of $100.
Execute at Least 3 Perpetual Trades.
Tweet about and tag the official Blitz Twitter account (@tradeonblitz).
05/01/2024: The original 14-day deadline requirement for claiming your Initial Drop of Blitz Points has been removed for all users. If you were unable to claim your Blitz Points past the original deadline, make sure to check the Points Page on the Blitz app again and claim your Points!
β Next, proceed with the requirements to claim your Initial Drop.
β Follow the prompt to Tweet and tag the Blitz Twitter account, and click βVerify.β
β Once you have completed the verification prompt, you have successfully claimed your Initial Blitz Points!
β Blitz Points from the Initial Drop will be credited to usersβ Blitz accounts and visible on the Points Page UI as soon as the requirements are met and the user-flow prompt is successfully completed.
Trade on Blitz, Earn Points.
Ezpz, anon.
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