IDOs and YIDOs: What’s the Plan?

The time has almost come. If you’ve been following our journey, it's been one of hard work and perseverance. Despite developmental delays and uncertain market conditions, IDO launches on BlastOff have admittedly come a little later than we would have liked.

That being said, you may have seen our latest announcement confirming that the final audits on our launchpad mechanics are underway. We’re ready to confirm our first IDOs as soon as we’re given the all-clear!

Rest assured, we anticipate the green light any day now. This is the perfect time to confirm the details about how the participation will work, how you can get involved, and the exciting stages that lie ahead for BlastOff!

Investing in an IDO

Before we dive into it, here is a quick reminder of BlastOff’s mission. What made us different to every other onchain launchpad? 

Taking advantage of the Blast ecosystem's unique native yield feature, we developed a concept of using that yield to create risk-free IDOs. By allowing users to stake tokens and generate future yield (fy) tokens of ETH or USDB, the community could participate in IDOs without worrying about losing their initial capital.

We call these ‘YIDOs’.

While that remains the overall plan, we’ve decided to open up the first few IDOs to more potential investment. Therefore, users can use ETH or USDB, depending on the IDO, and their fy tokens if they hold them.

How will it work? For example, if a project decides to raise USDB, then users can invest in either USDB or fyUSDB. This will allow them to mitigate their risk in the IDO by using the fy tokens they’ve accumulated, but it will still allow them to participate in standard USDB if they wish.

Similarly, the same would apply if the project wished to raise in ETH; a user could participate in ETH or fyETH.

However, if a project decides to raise in ETH, then you cannot use either type of USDB token, and vice versa.

Why Have We Done This?

Whilst the long-term plan is to have purely risk-free IDOs with our YIDOs, we decided to open up the first few launches to non-fy tokens for several reasons.

Currently, fy tokens are generated by users who stake in the Gen1 Vault. It uses staked ETH to leverage farming of other protocol points alongside traditional yields, which generates fyETH that can be used in the YIDOs. 

As it stands, Gen1 takes time to generate fyETH, so allowing non-fy tokens at this early stage of the BlastOff timeline will give users better opportunities to invest.

In the next few weeks, we’ll also have a new vault going live, the Future Yield Minter Vault. This vault will provide instant access to large quantities of fy tokens, perfect for those who want to participate in IDOs but haven’t had the time to generate fy tokens through the Gen1 Vault.

With the Future Yield Minter Vault still in its final development stage, we believe opening IDOs to non-fy tokens will help make investing in these projects more accessible to users. Once the vault is live, users will be able to easily gain access to fy tokens, removing this barrier to YIDOs.

$OFF Tokens

Our IDOs will be split into three distinctive rounds:

• Open for Everyone (OFE)
• Public
• First Come First Serve (FCFS)

The Public round will offer the largest allocation of tokens, and users must have some $OFF staked on our platform to be eligible to participate! Many of you have already staked, which is fantastic. 

The OFE rounds will not require any $OFF and, as the name suggests, will be open for everyone. We may even offer the same on the FCFS rounds for the first few IDOs. More information on exactly how these will work will be available in the coming weeks.

Staking $ OFF tokens not only makes you eligible for the highest allocations but also strengthens the BlastOff community. We want to ensure everyone has the opportunity to get into these projects early!

For those of you who still need to purchase $OFF, we recommend getting them now. Once our IDOs are fully announced, we expect the price to rise! Then, you can stake and gain access to the best opportunities!

A few people still hold their $OFF tokens on Polygon; if they’re not held on Blast, they cannot be staked, and therefore, you are limiting yourself on your own participation!.

In that case, get them bridged over to Blast as soon as possible! If you need help with this, please see our previous article! We still have our bridging incentive active, where 40 users each month can earn 1000 $OFF just for moving their tokens to Blast!

Coming Soon

As mentioned earlier, despite the delays, IDOs are coming! We’ve finally got everything in place to launch projects and bring fantastic investment opportunities to the BlastOff community. Stay tuned for more details about the projects and the exact launch dates.

Once we start, the pace will quicken, with multiple IDOs already in the pipeline! Now, it's your turn. Ensure you have everything ready to get involved, as you don’t want to miss out on these opportunities.

This is the moment we’ve all been waiting for. Don’t let it pass you by!

What is BlastOff?

BlastOff, built on Blast, is a game-changing platform combining a launchpad and yield aggregator.

It maximises user yields using Blast Native Yield and YZone, plus YIDOs, for extra returns by funding new Blast projects. Unlike other blockchains, Blast's unique infrastructure and native yield potential enable innovative, yield-focused products.

BlastOff taps into this, aiming to grow the Blast community and lead in Total Value Locked (TVL) by developing community-focused products. Our team includes experienced launchpad developers and veteran strategists to propel our mission.

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