{"id":"bladeswap","version":1,"language":"en","title":"BladeSwap","hidden":false,"content":"**BladeSwap** is a '[veDEX](https://iq.wiki/wiki/decentralized-exchange)' that aims to distribute all platform fees to token holders and allocate emissions through governance voting. By removing the rebase mechanism, BladeSwap seeks to encourage broader participation and no longer identifies as a ve(3,3) [DEX](https://iq.wiki/wiki/decentralized-exchange).[\\[1\\]](#cite-id-u7vacnw2bje)  \n$$widget0 [YOUTUBE@VID](Kw6ztcdZ_Qw)$$  \n  \n# Overview  \n  \nBladeSwap, launched in March 2024, is a '[veDEX](https://iq.wiki/wiki/decentralized-exchange)' on the Blast network, an [Ethereum](https://iq.wiki/wiki/ethereum) [Layer2](https://iq.wiki/wiki/layer-2) solution providing native yield for [ETH](https://iq.wiki/wiki/ether-eth) and [stablecoins](https://iq.wiki/wiki/stablecoin). It aims to return 100% of platform fees to token holders and directs emissions entirely through governance voting. By removing the rebase mechanism, BladeSwap seeks to encourage broader participation.  \n  \nBladeSwap simplifies traditional [DEX](https://iq.wiki/wiki/decentralized-exchange) complexities by supporting native batch transactions, allowing users to bundle actions into a single transaction, saving time and gas fees. Its smart split router aims to minimize price impact during trades, providing an efficient trading experience.  \n  \nKey features include redistributing all protocol fees to native token holders, multi-airdrop farming for additional rewards, and a real-time voting system for governance. [\\[1\\]](#cite-id-u7vacnw2bje)[\\[2\\]](#cite-id-rmej1vapb0n)[\\[3\\]](#cite-id-fycylci6z1p)[\\[4\\]](#cite-id-e4yw2vn4awh)[\\[5\\]](#cite-id-m2j7luec0xc)  \n![image-13.png](https://ipfs.everipedia.org/ipfs/QmRHqEgXtXg1o6mUh6xg7NkziGiY7RaXqd46NvT6fBgFNq)  \n  \n## Maximizing Native Yield  \n  \nBladeSwap aims to maximize user profits using Blasts's three native yields: L1 Staking yield on [ETH](https://iq.wiki/wiki/ether-eth), T-bill yield on USDB, and Gas Revenue sharing. Contracts are structured to optimize these yield opportunities.  \n  \nPre-Token Generation Event (TGE), [liquidity providers](https://iq.wiki/wiki/liquidity-providers) can earn 100% of the rebase yield on [ETH](https://iq.wiki/wiki/ether-eth) and USDB, alongside trading fees. Once the voting feature is activated, these yields are intended to be consolidated into internal incentives for token holders, increasing emissions for corresponding providers.  \n  \nGas revenue paybacks and a portion of rebase yields are allocated to the free daily loot box, enhancing potential profits for users.[\\[11\\]](#cite-id-jocmsq4l34r)  \n![Screenshot 2024-06-13 at 22.34.39.png](https://ipfs.everipedia.org/ipfs/Qmek1C3TiAhQS1rbaKNrgf3M1fiJEMHFYS859t96SLYBZb)  \n  \n## Daily Free Loot Box  \n  \nBladeSwap offers daily free loot boxes based on weekly Swap/LP/Gov rankings, recalculated each week. These boxes are designed to unlock after each epoch concludes on Thursday morning, ensuring any unclaimed rewards return to the pool.  \n  \nInside these boxes, users may find rewards such as USDB/[ETH](https://iq.wiki/wiki/ether-eth) Rebase yields (available after maturity), [ETH](https://iq.wiki/wiki/ether-eth) gas refunds, Blast Gold, partner tokens, and $BLADE [airdrop](https://iq.wiki/wiki/airdrop) points.  \n  \nReferring friends allows users to earn extra boxes, with bonuses granted based on their completion of weekly quests. For every five bonus boxes received by referred friends, the referrer is awarded an additional box.[\\[13\\]](#cite-id-1j9g4pierxe)  \n![Screenshot 2024-06-13 at 22.38.21.png](https://ipfs.everipedia.org/ipfs/QmefLE7hHfundVDq4PL1hLMNatgTDXQ3NLvq8hVqKZ1dYr)  \n  \n## Blast Points (Bridged Asset Points)  \n  \nFrom November 20th, 2024, users bridging [ETH](https://iq.wiki/wiki/ether-eth)/USD to the Blast launch bridge earn points based on their balance over time. These points accumulate within BladeSwap and are viewable on the Blast Point dashboard. Points are allocated to BladeSwap's Vault contract relative to users' [ETH](https://iq.wiki/wiki/ether-eth)/USDB LP and [ETH](https://iq.wiki/wiki/ether-eth)/BLADE LP stakes, facilitating participation in the Blast [airdrop](https://iq.wiki/wiki/airdrop) distribution.[\\[14\\]](#cite-id-1vltvn1epfd)  \n![Screenshot 2024-06-13 at 22.37.36.png](https://ipfs.everipedia.org/ipfs/QmVNPzMkQySaS2uwW6rQW6CtevvP72MVdNd1DmaxJiS8hk)  \n  \n## Blast Gold (Developer Points)  \n  \nFollowing its achievement as the runner-up in the BigBang competition, BladeSwap was awarded Developer points known as Blast Gold. These points hold potential value for future conversion into BLAST tokens. BladeSwap aims to redistribute all accumulated Developer points and Gold to its community through initiatives like the Daily Free Loot Box system, enabling users to participate in $Blast and $Blade [airdrops](https://iq.wiki/wiki/airdrop).[\\[14\\]](#cite-id-1vltvn1epfd)  \n  \n### Season 1: NFT-Centric Distribution  \n  \nDuring BladeSwap's initial launch until March 28, 0 UTC, Season 1 of Blast Gold distribution focused on BladeSwap [NFTs](https://iq.wiki/wiki/non-fungible-token-nft) obtained through Daily Loot Boxes. The allocation of Blast Gold was determined by the number of BladeSwap [NFTs](https://iq.wiki/wiki/non-fungible-token-nft) held by users, categorized into tiers based on a [snapshot](https://iq.wiki/wiki/snapshot) taken after the epoch ending on April 4, 2024. BladeSwap phased out [NFTs](https://iq.wiki/wiki/non-fungible-token-nft) from loot boxes starting April 4, 2024.[\\[14\\]](#cite-id-1vltvn1epfd)  \n  \n### Season 2: Broader Criteria for Distribution  \n  \nStarting March 28, 2024, 0 UTC, BladeSwap's Season 2 of Blast Gold distribution expanded its criteria beyond BladeSwap [NFTs](https://iq.wiki/wiki/non-fungible-token-nft) to reward users based on broader contributions to the Blast ecosystem's growth. Following April 4, BladeSwap [NFTs](https://iq.wiki/wiki/non-fungible-token-nft) were no longer available from loot boxes; instead, users could obtain BladeSwap Season 2 modules. These modules, while non-tradeable, enhance users' weekly rankings, aligning with Blast ecosystem guidelines.  \n  \nAt the end of each Blast Gold distribution in Season 2, all accumulated BladeSwap Season 2 modules will be burned to ensure a fair reset for subsequent distributions. Notably, governance scores will no longer influence loot box allocations. Post-TGE, Blast Gold will be directly distributed to $veBLADE voters, emphasizing governance's role in BladeSwap's ongoing development within [DeFi](https://iq.wiki/wiki/defi).[\\[14\\]](#cite-id-1vltvn1epfd)  \n  \n# Products  \n  \n## Native Batch Transaction  \n  \nBladeSwap's Singleton Vault structure supports native batch transactions, allowing users to chain multiple actions (e.g., Swap, Add/Remove Liquidity, Vote, Lock, Bribe, Claim Reward, [ETH](https://iq.wiki/wiki/ether-eth) Wrap) into one atomic transaction. This aims to simplify [DeFi](https://iq.wiki/wiki/defi) processes, reducing the number of transactions and gas fees.  \n  \nIn traditional [veDEXes](https://iq.wiki/wiki/decentralized-exchange), claiming rewards could require around 20 transactions for extensive voting. BladeSwap's batch transaction capability seeks to streamline this process, improving efficiency and user experience.[\\[6\\]](#cite-id-60mygy1tuyo)  \n![Screenshot 2024-06-13 at 22.35.37.png](https://ipfs.everipedia.org/ipfs/QmVBiEMyngVhQZhr6JahF6Y7xuPTVpAYmsB2Tak9wjKeUe)  \n  \n### Smart Split Router  \n  \nBladeSwap's smart split router, introduced alongside native batch transactions, functions similarly to a [DEX](https://iq.wiki/wiki/decentralized-exchange) aggregator. It allows swaps to take multiple paths divided by size, rather than a single route, ensuring minimal price impact. This approach aims to reduce fees typically imposed by third-party aggregators and significantly lower gas costs, optimizing the overall trading experience.[\\[7\\]](#cite-id-oafkmfxo2j8)  \n![Screenshot 2024-06-13 at 22.36.22.png](https://ipfs.everipedia.org/ipfs/QmePh2mJHU3LL3p6xU9BQaF3Fu6FiJA9ZK2tjuMC4TGQVd)  \n  \n## Yield Maxi  \n  \nBladeSwap offers an [ETH](https://iq.wiki/wiki/ether-eth)-USDB Yield Maxi pool aimed at providing higher [APRs](https://iq.wiki/wiki/annual-percentage-rate-apr) without Blast Points and Gold, distinguishing it from typical Blast Network pools. This pool aims to boost [APRs](https://iq.wiki/wiki/annual-percentage-rate-apr) with additional [ETH](https://iq.wiki/wiki/ether-eth) bribes through the Gold Maxi feature, incentivizing voters involved in emission strategies. While it does not distribute Points and Gold, the Yield Maxi Pool facilitates immediate yield farming through elevated [APRs](https://iq.wiki/wiki/annual-percentage-rate-apr).  \n  \nTo add liquidity, users can access the BladeSwap pool page, click on the Yield Maxi banner or the [ETH](https://iq.wiki/wiki/ether-eth)-USDB pool badge, and begin earning rewards in real-time. The platform also features the Magic Deposit option for convenient LP provisioning with a single click, enhancing user experience in managing tokens efficiently.[\\[12\\]](#cite-id-gzijx86b0g)  \n![Screenshot 2024-06-13 at 22.37.36.png](https://ipfs.everipedia.org/ipfs/QmVNPzMkQySaS2uwW6rQW6CtevvP72MVdNd1DmaxJiS8hk)  \n  \n## Gold Maxi  \n  \nGold Maxi is integrated with BladeSwap's Yield Maxi pool. Users who provide [ETH](https://iq.wiki/wiki/ether-eth) bribes to Yield Maxi earn Gold Maxi points, which entitle them to receive Blast Points and Gold generated by the pool. This system aims to potentially enhance returns in Gold and Points for participants.  \n  \nBy contributing bribes to the Yield Maxi [ETH](https://iq.wiki/wiki/ether-eth)-USDB pool, users aim to increase their potential for receiving more Gold over time. It's important to note that bribes made through the [veDEX’s](https://iq.wiki/wiki/decentralized-exchange) vote-bribe feature are irreversible, with a cautionary notice provided during the process. Participants should fully comprehend and agree to these conditions before proceeding.  \n  \nGold distribution adheres to a predefined schedule and does not occur immediately. Points serve as indicators of each participant's allocation among Gold Maxi contributors, representing their share rather than direct receipt of gold.[\\[12\\]](#cite-id-gzijx86b0g)  \n  \n# Tokenomics  \n  \n## $BLADE  \n  \n$BLADE tokens serve to reward [liquidity providers](https://iq.wiki/wiki/liquidity-providers) through emissions on Bladeswap. Converting $BLADE to $veBLADE tokens is a one-way process, permanently reducing circulating supply. The total supply of $BLADE tokens is capped at 40 million.[\\[15\\]](#cite-id-ju9b6wmx9o)  \n  \n### Allocation  \n  \n$BLADE token allocations are designated as follows:  \n  \n* **Liquidity Bootstrapping Pool (LBP - Fjord phase):** 12%, equivalent to 24 million tokens  \n* **Community:** 2%, totaling 4 million tokens  \n* **Marketing:** 2%, totaling 4 million tokens  \n* **Liquidity Providers (LP):** 4%, totaling 8 million tokens  \n  \nThe LBP and LP allocations are subject to adjustments based on the outcomes of the LBP sale, with any excess tokens after launch scheduled for [burning](https://iq.wiki/wiki/token-burn).[\\[15\\]](#cite-id-ju9b6wmx9o)  \n  \n## $veBLADE  \n  \n$veBLADE functions as BladeSwap's [governance token](https://iq.wiki/wiki/governance-tokens), obtained by converting $BLADE tokens, thereby reducing the circulating supply permanently. Unlike [NFTs](https://iq.wiki/wiki/non-fungible-token-nft), $veBLADE can be freely exchanged back to $BLADE at prevailing market rates via the[ liquidity pool](https://iq.wiki/wiki/liquidity-pool). Ecosystem and team allocations are securely locked within $veBLADE.  \n  \n$veBLADE empowers token holders to engage in governance activities, allowing them to vote on protocol proposals without any imposed lock-up period. Each $veBLADE token carries an equal vote, ensuring democratic participation. [Liquidation](https://iq.wiki/wiki/liquidation) to $BLADE is seamless through the $BLADE/$veBLADE trading pair on BladeSwap.[\\[15\\]](#cite-id-ju9b6wmx9o)  \n  \n### Allocation  \n  \n$veBLADE tokens represent the locked allocations within BladeSwap's ecosystem:  \n  \n* **Ecosystem**: 8% of total supply (16 million tokens); Allocated for ecosystem development and growth initiatives.  \n* **Team**: 12% of total supply (24 million tokens)  \n  \nThese $veBLADE tokens are permanently locked to maintain stability and support the governance and developmental goals of BladeSwap.[\\[15\\]](#cite-id-ju9b6wmx9o)  \n  \n## Emissions  \n  \nBladeswap has designed an emission strategy to distribute a total of 120 million $BLADE tokens over a period of two years. Initially, weekly emissions begin at 1.2 million tokens, equivalent to 3% of the initial supply, and are structured across distinct phases.  \n  \nIn the first phase spanning 14 weeks, emissions escalate by 3% each week, intended to foster robust protocol engagement and facilitate partner integration. Following this period, emissions transition into a phase where they decrease by 1% per epoch, aiming to moderate supply inflation as the platform matures.  \n  \nUltimately, after 98 weeks, decisions regarding emission levels will be determined through governance processes, empowering $BLADE token holders to participate in shaping the platform's future growth and sustainability.[\\[15\\]](#cite-id-ju9b6wmx9o)  \n![image-14.png](https://ipfs.everipedia.org/ipfs/QmTddSygiePrM2ShptoPzDZp4QsRZgkBq5oYusT4meQoLo)  \n  \n# Voting  \n  \nBladeSwap aims to simplify the complex voting system of ve(3,3) [DEXs](https://iq.wiki/wiki/decentralized-exchange). Users employ fungible ve tokens and can use \"smart vote\" for automated voting, avoiding the need for epochs, [veNFTs](https://iq.wiki/wiki/non-fungible-token-nft), and manual calculations. The platform uses fungible voting tokens for equal lock-up conditions and easy liquidation via the BLADE-veBLADE pool.  \n  \nBladeSwap seeks to streamline voting by allowing adjustments anytime to maximize yields and providing real-time rewards. This approach aims to make voting [APR](https://iq.wiki/wiki/annual-percentage-rate-apr) consistent across pools without repetitive weekly actions.[\\[8\\]](#cite-id-84p01q91hqh)[\\[9\\]](#cite-id-fkrc6rcq5kj)[\\[10\\]](#cite-id-jixf9etaqdd)","summary":"BladeSwap is a 'veDEX' on the Blast network, distributing fees to token holders and governing emissions via voting, eliminating the rebase mechanism.","categories":[{"id":"exchanges","title":"exchanges"}],"promoted":0,"tags":[{"id":"DEXes"}],"metadata":[{"id":"references","value":"[{\"id\":\"u7vacnw2bje\",\"url\":\"https://bladeswap.gitbook.io/bladeswap\",\"description\":\"docs - overview\",\"timestamp\":1718201938347},{\"id\":\"rmej1vapb0n\",\"url\":\"https://x.com/Bladeswapxyz\",\"description\":\"Bladeswap Twitter\",\"timestamp\":1718202469039},{\"id\":\"fycylci6z1p\",\"url\":\"https://x.com/Blast_L2\",\"description\":\"Blast Twitter\",\"timestamp\":1718202484038},{\"id\":\"e4yw2vn4awh\",\"url\":\"https://dappradar.com/dapp/bladeswap\",\"description\":\"Dappradar - 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