Announcing BlueBit IDO
Off the back of our successful partnership with Bluebit Finance, we’re pleased to announce the Token Distribution Event for their protocol gateway token, $BBT. $BBT is the access token into Bluebit’s yield aggregator ecosystem. The token, which can also be earned through liquidity mining rewards and DEX trading, confers protocol governance and fee-sharing ability on token holders once locked up for veBBT token.
Users can lock up $BBT token to get veBBT with the following benefits:
- 50% weekly platform fee rebate for users holding veBBT tokens
- Vault boosting ability for liquidity mining
- Protocol governance rights
Users may choose to lock their token up for a week or up to 52 weeks. They can also extend the duration of the lock at will. The number of veBBT tokens received depends on the lockup duration. The longer the lockup, the more tokens received as illustrated below for locking 1 $BBT:
3 months lockup = 0.25 veBBT.
6 months lockup = 0.5 veBBT.
9 months lockup= 0.75 veBBT.
12 months lockup = 1 veBBT.
The more $BBT locked for veBBT, the higher the fee rebates and farm boosts.
The rebate pool is a weekly distribution event consisting of 50% of all protocol fees equally distributed between USDT and BBT tokens.
Token Distribution Event
The TDE on NearPad will kick off on the 11th of March as scheduled below:
Ticker Symbol: BBT
IDO Date: Mar 11th
IDO Supply Percentage: 1%
Initial Market Cap: $250k
Total Supply: 100,000,000
Seed/Private Price: $0.1/$0.2
Percentage of Total Supply for IDO:1% (0.4% for NearPad)
Amount for IDO: 1,000,000 (400,000 for NearPad)
Accepted Currency: USDT
Price per Token: $0.25
IDO Vesting: 40% unlocked, 20% vesting each month for 3 months
IDO Start Date: March 11th, 12:00 UTC
IDO End Date: March 13th, 12:00 UTC
AfterSale Start Date (FCFS for Stakers): March 13th, 12:00 UTC
AfterSale End Date (FCFS for Stakers): March 15th, 12:00 UTC
Claim Date: March 23th, 9:00 UTC
Bluebit Finance is set to launch its testnet within two weeks followed shortly by the mainnet. Ahead of this event, we’ll be hosting an AMA with the team in our Telegram group on the 9th by 13:00 UTC.