Details of the Project Blur: The Wealth Effect Reappears Through The Airdrop

The long-awaited Blur Airdrop on the entire network was finally completed in the early hours of February 15, 2023 Beijing time. 360 million Blur tokens were returned to the NFT community and Blur users. Many people have received airdrops containing hundreds of thousands of Blur tokens, according to social media and community feedback. Even those who haven’t used Blur airdrops to purchase Blur products for non-heavy purposes have received thousands to tens and thousands of dollars. A rare airdrop wealth effect. According to Dune Analytics data, Blur airdrops have been claimed for by 80.15%. 35.8% of airdrops were between 100-1000. 39.6% of addresses received airdrops between 1000 and 10,000. 7.8% received airdrops ranging from 10,000 to 100,000. At present, the top three wallets for airdrop applications have received airdrops of 3.2 million BLUR ($2.46 million), 2.97 million BLUR ($2.28 million), and 2.5 million BLUR ($1.92 million), respectively.According to the information on the official website, this airdrop is open to all trading users, care package holders and creators from October 19, 2022, to February 14, 2023. Users who sign up for the waitlist or participate on the private beta in May 2022, will automatically be eligible to receive additional Blur airdrop allocations. The airdrop claim period for this airdrop is 60 days. Users who don’t claim within that time frame will be disqualified from the airdrop. Additionally, the second round has already begun and Blur has not yet released the first round. From now to March 14, users who list NFTs and bid on collections on Blur will receive double points. Users who missed Blur’s first airdrop will now be able to participate in the second. This article will provide a detailed explanation about Blur’s first airdrop launch, as well as its economic model and market value. Binance is currently the only major exchange that has not yet issued a listing announcement. Community users are actively searching the Blur token contract address in order to locate the official contract before it goes live. According to Etherscan browser data the multi-sig wallet address of Wintermute, a cryptocurrency market maker, received 15 million Blur tokens prior to the Blur airdrop going live. The community speculates that Blur will officially handover the market-making business to Wintermute. It was initially scheduled to go live at 1 a.m. on February 15. However, it was delayed to 2:30 a.m. for some reason. The price of Blur tokens on OKX went up from $0.1 to $8.3 while it was $4 to $10 on Huobi. Because of the overwhelming number of users, Blur’s official website crashed and users couldn’t open the airdrop claim interface to claim it. It was possible to use the airdrop claiming portal to claim it normally after about half an hour. According to the ultrasound website, the contract for receiving Blur Airdrops has burned 980 Ethereum in the last 24 hours. This makes Blur the first network in terms of total users who used Blur to trade NFTs. The Blur protocol has processed more than $1.18 billion in GMV since its launch, excluding fake transactions.Economic modelAccording to Blur’s official documents, BLUR tokens are issued by the foundation and are utility tokens. BLUR tokens allow the community to control the DAO. Token holders have the ability to control the key to value accumulation in the Blur protocol. They can also vote or entrust voting parameters. The total number issued of BLUR tokens is 3 billion. They will be released in 4-5 years. They are distributed to Blur community members at 51%; 29% to past and future core contributors with a 4 year release cycle; 19% to investors with a 4 year release cycle; 1% to advisory members with a 4 year release cycle. BLUR tokens distributed to core contributors and launch partners will be vested according to the same schedule, but with an additional 4-month cliff. Advisors will receive their BLUR allocation in 48-60 months. There will be a 4- to 16-month cliff. The release speed is 40% of the total supply for the first year, 30% for the second year, 20% for the third year and 10% in the fourth year. Another 39% of BLUR tokens was distributed to the community via contributor grants, community initiatives and incentive programs. 10% of this 39% has been allocated to the incentive budget in the next launch incentive. After all incentive budgets have been exhausted, additional incentive budgets can still be allocated by voting. Users will develop long-term habits of usage and increase platform influence and stickiness by using multiple, multi-stage incentives. According to defillama data users believed that Blur was only offering this round of airdrops. Some users suggested the ETH from the Blur Bid bidding pools. The official airdrop was launched, and the second round of airdrops was shown to begin immediately. The ETH in Blur Bid’s bidding pool saw a significant inflow. The pool’s current equivalent value is 40 million US Dollars. Additionally, the community receives the most BLUR token distribution. This is consistent with the Blur Foundation concept of operating under a DAO control protocol. It avoids the centralized governance that some projects are known for, and most voting rights are owned by the community. In addition, the vesting period and cliff time of tokens allocated by core contributors and consultants have been increased to benefit community members.GovernanceBLUR token holders have governance rights over the protocol, and the Blur Foundation assists in promoting community-led governance and participation in the DAO, and assists contributors in developing and growing the Blur ecosystem. Zeneca was promoted as Blur Foundation director, and Blur core protocol contributors joined the foundation. Blur officials repeatedly spoke of governance and incentives. There are three types of governance proposals: core categories, process and information. Core classes require proposals for on chain actions, including financial allocations. This category will determine the proposal threshold and governance rights lock. The process category is a proposal for making changes to the process or its implementation. This includes changes in procedures, guidelines and decision-making processes. The information category can be grouped into suggestions or general guidelines or information provided to the community. To initiate off-chain requests, users must have at least 30 million BLUR vote votes to be eligible to vote in the chain. At least 120 million BLUR votes are required to enter the execution after completing the on-chain execution voting. Blur DAO will manage a portion of the chain’s business through committees, as most currency holders don’t care about governance rights. They prefer to delegate their functions to governance representatives. These committees will gradually transfer their functions to the management over time. There are three types of committees: the safety committees, the market committees and the incentive committees. The Security Committee ensures that proposals comply with the prescribed governance procedures. It also prevents proposals not following proper procedures from being passed. The Market Committee facilitates the upgrading of Blur Market contracts and Aggregator contracts. It also enforces governance decisions related to community development such as royalties. The Incentive Committee’s task is to manage incentives for Blur users. The Incentive Committee can use up to 10% of the total supply of incentive programs. This flexibility allows for more thorough consideration in the community and product updates. Blur platform royalties can be set as buyer-defined royalty, which can prevent high-quality creators getting corresponding returns. However, because of the existence the committee, it can motivate, and keep, high-quality creators. Market value comparison between Blur trading platforms and NFT trading platformsAccording Coinmarketcap data, BLUR has a current circulating value of 294 million US Dollars and a full circulation market value of 2.428 billion US. The current circulating value of X2Y2 stands at 25.9 million US Dollars. The full circulating value is 144 millions US dollars. The current circulating value of LooksRare amounts to 130 million US Dollars. The full circulating value of the market is 280 million US. According to previous financing news, OpenSea’s primary market valuation is 13.3 billion US Dollars. Blur is slightly undervalued when compared to Opensea, despite the fact that it falls within the bull market cycle’s financing period. Blur has a 1.5-times greater NFT market share than second-ranked X2Y2, and its circulating value is more that 10 times its. Blur is supported by top investment institutions like Paradigm and this makes the valuation more expensive. It is far away, which means the market has higher expectations for it. X2Y2 is only because he grows in the community but has not yet announced an investment institute, which lowers the market’s expectations and makes it less attractive. The Blur airdrop also brought benefits to users in crypto and made it easier for people to use the platform from the sidelines. This is a win-win situation. Blur’s token economic model shows that it not only benefits the community through the vesting cycle, but also distributes more of the tokens to the community terms and distribution, which is rare for cryptocurrency projects. The distribution process is done by motivating platform users. Blur DAO distributes governance rights to Blur users. This is similar to how Optimism officials operate the platform. Coincu previously wrote that the airdrops in the first quarter encourage NFT community users bring seed users. This will achieve the purpose to publicize the product and encourage buyers, sellers, and creators to allow all users to use it in a variety of ways, which in turn increases retention. Blur’s market value is less than Opensea’s. It is not as strict as other project parties. It is either strict enough for witches to be checked or rude to distribute airdrops on an ordinary basis. Blur’s market price is still relatively high compared to X2Y2 or other platforms that have been built from scratch and have a lot of product experience. This is due to its background advantages such as investment institutions, teams, and teams. Blur’s product knowledge is undisputed. The Blur airdrop is still being collected. According to Coinmarketcap data the total transaction volume for BLUR tokens over the past 12 hours was $702,000,000. The highest percentage, 517 million US Dollars, was attributed to its centralized exchange, which has a high turnover rate. After the initial surge, its secondary market price has dropped to a stable level. Blur’s second season airdrops can be obtained by users who visit Blur’s official site to bid on or list NFT. 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