Announcements Introducing BLAST on Launchpool: Stake to Earn Mining Rewards!

Introducing BLAST on Launchpool: Stake to Earn Mining Rewards!

2024-06-27 08:38:05 UTC 41921 Read

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About Gate.io Launchpool Program
Launchpool is a platform where users can stake their assets or provide liquidity to earn rewards in new project tokens. Users can lock specified tokens in the Launchpool pool to receive corresponding project token rewards.
Visit Launchpool and learn more: https://www.gate.io/startup-mining
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**1.Introduction to “Launchpool” Project BLAST (BLAST)** 
Blast is the only Ethereum L2 with native yied for ETH and stablecoins. Blast yield comes from ETH staking and RWA protocols. The yield from these decentralized protocols is passed back to Blast users automatically. On Blast, it’s 3.4% for ETH and 8% for stablecoins.
Website: https://blast.io

**2.BLAST (BLAST) Launchpool Rules**
(1) Launchpool Duration: 09:00 AM on June 27th - 09:00 AM on June 30th (UTC), 2024
(2) Mining Pool: BLAST
(3) Staking Hard Cap: 40,000,000 BLAST
(4) Total Staking Rewards: 150,000 BLAST
(5) Total Daily Rewards：50,000 BLAST
(6) Individual Staking Limit: 80,000 BLAST
(7) Minimum Staking Amount: 500 BLAST
(8) Unlocking Rule: 100% Unlock

**Participation Rules:**
1.Users can stake BLAST to the BLAST pool for a minimum period of 12 hours to start earning rewards.
2.A snapshot of the staked token amount for qualifying users is taken at 00:00 (UTC+0) daily, and token rewards are distributed to eligible users. Daily earnings will be distributed into users’ spot accounts.
3.Daily staking rewards = Your valid staked asset amount / Total Staking Pool Amount x Daily rewards pool. 
4.Users can increase or redeem the staked assets at any time during the staking period. However, early redemption may result in the loss of accrued rewards.

**3.Notice**
1.The system will take hourly snapshots of participant’s staked assets, and the valid staked asset amount for participants will be the average staked amount per hour. If the staking duration is less than 12 hours on the given day, no rewards will be granted for that day. If a user makes an additional stake, a snapshot of the staked assets will be taken after 12 hours and counted as the valid staked amount.
2.After the staking ends, the staked assets will be automatically redeemed, and the remaining mining rewards will be fully distributed at 0:00 (UTC+0) the next day.
3.After the user redeems in advance or the staking is completed, the staked assets will be transferred to Simple Earn by default. If this option is unchecked, the staked assets will be redeemed into spot assets. If the amount of redeemed assets is too small and does not meet the minimum subscription amount of Simple Earn, the assets will be automatically transferred to spot assets. Additionally, if Simple Earn does not support the subscription of the redeemed token, the assets will also be automatically transferred to spot assets.
4.Please refer to the relevant announcements for the mining hard cap limit for each project. 
5.Before participating in Launchpool, please ensure that you fully understand the participation rules. <a href="https://www.gate.io/help/guide/faq/37021/startup-mining-faq" target="_blank">Click here</a> to learn more details.
6.Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
7.Gate.io reserves all rights to the final explanation.
8.This event is not affiliated with Apple Inc. Users in the United Kingdom and other Restricted Locations cannot access the Services (including the participation in this event, game or competition). See the <a href="https://www.gate.io/user-agreement" target="_blank">User Agreement</a> for further details on Restricted Locations.

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Gate.io Team
June 27th, 2024

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Introducing BLAST on Launchpool: Stake to Earn Mining Rewards!

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