For Blueberry to serve as DeFi’s Prime Brokerage in a way that no protocol has been able to, decentralization via a robust token model is necessary. We’ve designed $BLB to serve that purpose by representing a stake in the decision-making process crucial to Blueberry’s risk management. The token will determine new integrations, token rewards, and the future of Blueberry and its DAO. The token launch plan will consist of a lockdrop used to fairly and gradually distribute $BLB to users who help contribute to the early success of the protocol. This will ensure long-term value alignment with the protocol’s key stakeholders.

$BLB

Blueberry’s token was first announced just over a year ago. After taking a step back to focus on development and risk, we’re proud to announce that launch is now just a few short weeks away. Since that first announcement, some key details have been kept the same while others have been tweaked. As a refresher, here’s all you need to know:
Vesting:

• Contributors, investors, and advisors will all be on a minimum 2-year vesting schedule with a 1-year cliff, with the team and angels (who make up 27.5% of all tokens) vesting for 3 years
• All community incentives will be distributed in $bdBLB, the vesting rewards token (more on this below)

$bdBLB

All $BLB emissions will be distributed in $bdBLB to lenders (bToken holders) every two weeks. $bdBLB (Bonded Blueberry) is the protocol’s vested rewards and governance token that can be redeemed for $BLB at a 1:1 ratio after a one-year unlock period. Users who wish to exit early can do so at the cost of an early unlock penalty consisting of an acceleration fee and a redistribution penalty. The total early unlock penalty begins at 50% and decays linearly over a year. This percentage is split evenly between the acceleration fee and the redistribution penalty, meaning they both start at 25% of the total $bdBLB amount and decrease to zero over a year.

Redistribution Penalty:

The redistribution penalty is a simple slash on the total $BLB an early unlocker receives. Based on how soon the user chooses to unlock, they will receive up to 25% less $BLB than their $bdBLB balance. Should a user choose to unlock right as they receive 100 $bdBLB, they will only receive 75 $BLB. If they wait 6 months, they will receive 87.5 $BLB. The penalized amount from early unlockers is redistributed to $bdBLB holders, who are free to claim that $bdBLB as it unlocks pro rata.

Acceleration Fee:

The acceleration fee is paid in USDC and is sent to the protocol treasury where it will be used to make liquidity for $BLB. The fee is charged on the price of $BLB at $bdBLB receipt, regardless of the current $BLB price when the user chooses to unlock. This means an early unlocker proportionally pays higher fees when the price of $BLB is down and lower fees when the price of $BLB is up. If a user chooses to unlock immediately, they must pay 25% of their $BLB value in USDC. If they choose to unlock 6 months in, they must pay 12.5% of their initial $BLB value in USDC.