Hourblast
Hourglass' blastETH and blastUSD contracts mint two liquid staking tokens on top of the Blast protocol's Layer 2 bridge. These ERC20 tokens are fungible, allowing them to be transferred during the Blast lock-up period. This added feature enables a marketplace to be built around these deposits, deepening liquidity and allowing holders to exit their positions.
The Blast protocol is currently in the first phase of its Community Airdrop. Early users that bridge into Blast are further incentivized through a point system; these airdrop points will be redeemable at a future date. Points are acquired through bridging and referrals. The Hourglass blastETH and blastUSD contracts will aggregate bridging demand, allowing for an outsized capture of available Blast points. When these points become redeemable, depositors into the blastETH and blastUSD contracts will receive a pro-rata share of the points earned along with the yield accrued on the underlying.
FAQs
When can I redeem my blastETH or blastUSD?
blastETH and blastUSD will be convertible into native ETH and/or a USD-token equivalent as soon as Blast activates its native redemptions.
Will my blastETH or blastUSD tokens earn point incentives?
The Blast point incentive system will be leveraged to maximally earn airdrop points. These points will be distributed pro-rata to the blastETH and blastUSD holders.
Am I eligible for airdrop rewards if I sell my blastETH or blastUSD?
Only users who hold blastETH or blastUSD at the time of airdrop will be eligible for rewards. Selling the token forfeits the right to any Blast related airdrop. However, this should increase the value of these tokens for a prospective buyer and should be priced accordingly.
Is there a fee for minting blastETH or blastUSD?
There is no fee for minting blastETH or blastUSD. In addition, there will be no fee charged on upon redemption or on any airdrop point incentives.
Have the blastETH or blastUSD contracts been audited?
Due to their simplicity, hourblast.sol, blasteth.sol, and blastusd.sol haven't gone through formal audits, but they have been extensively tested and reviewed by professional Solidity developers.
Contract Addresses
Hourblast.sol
Proxy - 0x9d0fc9112fd2c6e87f70adeb8c13b867f0165fee
Implementation - 0x73daafd23e47cb28a8b40b70b085af01637c2c61
blastUSD.sol
0x5ef352e9dce295d62d2e015ddbf07a0c448758b5
blastETH.sol
Last updated