Prepare for BlastOff: Unlocking a New Era of Funding and Earning

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6 Mar 2024

Hello Seedify Community

Introducing BlastOff, Seedify’s upcoming IDO that’s set to change how you earn and fund projects in the crypto space!
Imagine a platform that not only lets you earn rewards effortlessly but also allows you to support exciting new crypto projects without the fear of losing your investment.
That’s BlastOff for you — a native Yield-based LaunchPad and Yield Aggregator built on the powerful Blast network.
In this article, we’ve covered the following:

Understanding the Power of Blast

Before we dive into BlastOff’s intricacies, let’s appreciate the foundation upon which it stands — the Blast network. Positioned as an Ethereum Layer 2 (L2) solution, Blast introduces native yield and automatic compounding, challenging the norms of traditional L2 offerings.
With an impressive 4% yield for ETH and 5% for stablecoins, Blast provides users with an enticing opportunity to earn passive income effortlessly.
Blast achieves this through several features, including:

Auto Rebasing: This mechanism automatically adjusts the total supply of the underlying asset (e.g., ETH) in proportion to the accrued yield, ensuring users benefit from the compounded interest without needing to claim it manually.
L1 Staking: Users can stake their ETH on Blast’s Layer 1, earning an additional layer of yield on top of the native yield offered by Blast.
T-Bill Yield: Blast leverages the MakerDAO’s on-chain T-Bill protocol to generate additional yield for users holding USDB, Blast’s auto-rebasing stablecoin.

Introducing YIDOs: Earn While Participating in IDOs
Native Yield IDOs (YIDOs) are a revolutionary concept introduced by BlastOff. They differ from traditional IDOs in that they do not require users to directly invest their capital. Instead, a portion of the yield generated from users staking ETH or stablecoins on the BlastOff platform is allocated to support YIDOs. Unlike traditional IDOs, where investors face the risk of losing their entire investment if a project fails, YIDOs on BlastOff bring a refreshing approach.
Here’s a simplified breakdown of how YIDOs work:

Stake and Earn: Users stake their ETH or stablecoins on BlastOff, earning the native yield offered by Blast.
Allocate to YIDOs: Users choose to allocate a portion of their generated yield to participate in YIDOs for promising new projects launching on the BlastOff platform.
Automatic Participation: The allocated yield is automatically used to participate in the YIDO.
Receive Project Tokens: Upon successful completion of the YIDO, project tokens are automatically airdropped to users who participated through YIDOs.

Key benefits of YIDOs:

Zero-risk investment: Unlike traditional IDOs, users do not risk losing their initial investment in the project if it fails.
Passive income generation: Users continue to earn a yield on their staked assets even while participating in YIDOs.
Early access to promising projects: Users gain the opportunity to invest in promising new ventures at an early stage, potentially benefiting from significant price appreciation.
Diversified portfolio: Participation in multiple YIDOs across various sectors allows users to diversify their investment portfolio and mitigate risk.

YZone — The Innovative Yield Aggregator
YZone is a yield aggregator dedicated to executing strategies for harnessing yield opportunities within the Blast ecosystem. Its primary objective is to provide users with a higher yield than the Blast Native Yield. The mission revolves around establishing a straightforward and secure method for users to earn within the Blast ecosystem.
This involves active collaboration with Governance to identify, research, formulate strategies, and gain approval for execution, implementation, and deployment onto the YZone platform.
Blast Yield Opportunities
Opportunities within Blast can be categorized as follows:

Zero-risk: This includes native yield rebasing provided by Blast, with potential opportunities in Blur staking and potentially Blast staking.
Low-risk: Established ETH blue-chip projects like Aave, MakerDAO, Uniswap, and Yearn are transitioning to Blast, bringing forth infrastructure that generates yield opportunities.
Mid-high risk: New protocols and emerging projects on Blast offer the highest yield potential but carry more significant risks.

Creating Diverse Yield-Generating Vaults
The strategy for YZone revolves around deploying multiple yield-generating vaults; each centred around different risk profiles. Initially, the emphasis will be on zero and low-risk opportunities, ensuring a gradual and secure approach to yield generation.
Future Yield Minter Vault: Pioneering Access to Long-term Yield
BlastOff also introduces the Future Yield Minter Vault, an innovative solution allowing users to stake their ETH and automatically mint up to five years’ yield initially, with the option to mint up to ten years’ worth. This feature resembles a self-repaying CDP (Collateralized Debt Position), offering a futuristic approach to managing yield and debt.
The vault generates fyETH and provides a novel way for users to leverage their assets and integrates seamlessly with the broader DeFi ecosystem on Blast, including participation in YIDOs and other DeFi applications.

The $OFF Token And Its Utilities

$OFF is the native utility token within the BlastOff ecosystem. Initially launched on Ethereum, it is slated to be bridged over to Blast using the Omnichain Fungible Token (OFT) LayerZero standard.

$OFF Utilities:

The utilities associated with $OFF are crafted to share value with the most active and loyal participants of the BlastOff ecosystem. By staking $OFF, users amplify their Blast Force Score, unlocking a variety of benefits across different aspects of the platform:

YIDOs: Users enjoy higher allocations for automatic participation in YIDOs, providing them with increased opportunities to engage with promising projects.
Native Blast Staking: Stakers benefit from lower fees when engaging in Blast Native Staking, ensuring a cost-effective approach to yield generation.
YZone: Staking $OFF translates to higher yields and lower fees when participating in YZone, the intelligent Yield Aggregator.
Governance: Active $OFF stakers play a role in the governance of YZone Vaults and influence decisions regarding the YIDO deal flow.
Community Incentives: Actively participating users are rewarded with $OFF tokens, fostering community engagement and contribution.
Treasury Rev Share: Users with a high Blast Force Score share in accumulating the treasury’s growth, reinforcing the platform’s commitment to rewarding loyalty.
Buy-back & Burn: 50% of fees from YIDO and YZone will go towards $OFF buy-back and burn.
Yield Boost: Increase your YZone earnings by staking $OFF.

Project Benefits:

Increased fundraising potential: By leveraging the BlastOff platform and its engaged user base, projects have the potential to raise more capital through YIDOs.
Exposure to a wider audience: Launching on BlastOff allows projects to reach a broader audience of potential investors interested in participating in YIDOs.
Streamlined fundraising process: BlastOff offers a user-friendly platform for projects to conduct their IDOs efficiently.

Blast Force: A Loyalty System for Active Participants
The Blast Force system serves as a loyalty program within the BlastOff ecosystem. It assigns a score to each user based on three key factors:

$OFF staking: The amount of $OFF tokens a user has staked on the platform.
Native Blast Yield deposits: The amount of yield generated from staking ETH or stablecoins on Blast that the user has allocated to YIDOs.
YZone deposits: The amount of assets deposited into YZone vaults by the user.

A higher Blast Force score translates to greater access to features and benefits within the BlastOff ecosystem. This incentivizes active participation and long-term engagement from users.

BlastOff’s Vision and Future

As BlastOff prepares for its upcoming IDO, the team envisions a future where users participate in a secure and diverse DeFi ecosystem. The BlastForce Loyalty System and the $OFF Token utilities propel the platform towards becoming a premier hub for yield generation and funding innovation on Blast.
BlastOff’s commitment to transparency, user-centric design, and pioneering protocols marks the beginning of a new era in decentralized finance.
The Team
The team consists of 8 people, all Launchpad and DeFI veterans. The core management team has previously built, served, and managed Launchpads since 2021. BlastOff is the pinnacle of their work, with a deep DeFi integration and a focus on idle earning.
IDO Information
Name: (Name and ticker of the token): BlastOff ($OFF)
Token Type: ETH ERC-20
Total Supply: 10,000,000
Initial Mcap (excluding liquidity): $232,500
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IDO Date (Public): 13 March 2024
IDO Price: $0.4
Listing Date: TBA
Listing Price: $0.4
Public sale Allocation: 450k
Vesting Period: 15% TGE, 1-month cliff, then 6 months of daily vesting
Market Makers: TBA
Refund Policy: 7 days unconditional refund
—
Private sale date: 06 March 2024
Private sale allocation: $150K
Price: $0.3
Vesting: 15% TGE, 3 months cliff, then 4 months of daily vesting
Refund: No refund
—
Open For Everyone sale date: 12 March 2024
Open For Everyone allocation: $150K
Price: $0.48
Refund: No refund
Vesting Period: 15% TGE, 1-month cliff, then 6 months of daily vesting
*more details coming shortly on OFE round.
This article explains how to participate in the upcoming IDO on Seedify’s Launchpad.
Prepare for BlastOff — where funding and earning are reimagined in a new era of DeFi innovation!
Follow their social channels for the latest updates as BlastOff transforms the DeFi landscape:
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Gitbook
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About Seedify
Seedify is a leading Web3 projects incubator and launchpad specializing in Web3 Gaming, NFTs, AI, Defi and metaverse projects. Our mission is to empower innovators and project developers by offering essential resources such as access to funding, community building, marketing expertise, and a high-calibre partnership network. With a comprehensive support system, we aim to bring premier projects to our community and beyond, fostering growth and success in the dynamic landscape of Web3.
Please refer to the following links to learn more about Seedify and Seedworld (Seedify’s UGC-based Gaming Metaverse):
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