Blizz is a decentralised non-custodial liquidity market protocol where users can participate as depositors or borrowers. Depositors provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an overcollateralised (perpetually) or undercollateralised (one-block liquidity) fashion.
- 50% of the revenue generated through borrowing is distributed directly to users who stake BLZZ. Both lenders and borrowers receive BLZZ rewards to incentivize protocol use.
- BLZZ liquidity mining employs a mechanism first introduced by Ellipsis Finance on BSC. Rewards are vested for 3 months, but may be claimed immediately for a 50% penalty. The penalty is then distributed to users who choose to lock BLZZ for 3 months. This mechanism ensures steady rewards for those who actively commit to the protocol by locking their tokens.
- BLZZ stakers receive protocol fees, BLZZ lockers receive protocol fees as well as exit penalties from users who exit their vests early.
BLZZ has a total supply of 1,000,000,000.
- 50% given as incentives for lenders and borrowers, released over a period of five years
- 20% given as incentives for BLZZ/AVAX on TraderJoe liquidity providers, released over a period of five years
- 10% allocated for airdrops and incentives to related DeFi communities, happening over a minimum of one year (including Curve gauge bribes and the initial GEIST airdrop)
- 15% to the team, released linearly over one year
- 5% treasury