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What is the issuance and circulation of BLUR coins?
BLUR coins, issued through an airdrop, staking, and liquidity mining, form the backbone of the Blur marketplace, rewarding users for participation and fostering the platform's governance.
Nov 27, 2024 at 02:48 am
What is the Issuance and Circulation of BLUR Coins?
Introduction
BLUR is the native token of the Blur marketplace, a decentralized non-fungible token (NFT) marketplace. BLUR coins are designed to reward users for participating in the Blur ecosystem and to govern the Blur DAO, which controls the future development of the marketplace.
Issuance and Circulation
BLUR coins are issued through a combination of initial airdrop, staking rewards, and liquidity mining.
Initial Airdrop
In June 2023, Blur airdropped 360 million BLUR coins to over 100,000 NFT traders. The airdrop was based on users' trading volume and engagement on other NFT marketplaces.
Staking Rewards
Users can earn BLUR coins by staking their NFTs on the Blur marketplace. Staking rewards are distributed daily based on the rarity and value of the staked NFTs.
Liquidity Mining
BLUR coins can also be earned through liquidity mining on the Uniswap DEX. Users can provide liquidity to the BLUR/ETH pool and earn rewards in BLUR coins.
Circulating Supply
The circulating supply of BLUR coins is approximately 360 million. The maximum supply is capped at 3 billion coins.
Distribution of BLUR Coins
- Airdrop: 360 million coins (12%)
- Staking rewards: 1.8 billion coins (60%)
- Liquidity mining: 900 million coins (30%)
- Developer fund: 300 million coins (10%)
- Ecosystem fund: 300 million coins (10%)
Benefits of Holding BLUR Coins
- Governance: BLUR holders can participate in the Blur DAO and vote on proposals related to the future development of the marketplace.
- Rewards: BLUR holders can earn staking rewards and participate in liquidity mining to earn additional BLUR coins.
- Marketplace benefits: BLUR holders may receive discounts on trading fees and other benefits on the Blur marketplace.
- Speculation: BLUR coins are traded on exchanges like Uniswap and Binance and may be subject to speculation and price fluctuations.
Conclusion
BLUR coins are a key part of the Blur ecosystem and play a vital role in rewarding users and governing the future development of the marketplace. The token is issued through a combination of initial airdrop, staking rewards, and liquidity mining, and has a circulating supply of approximately 360 million.
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