Introducing Blast Ecosystem Fund
Introducing Blast ecosystem fund which is now live. Being the most technologically advanced API platform in the Web3 space, Blast stands out as the sole decentralized API platform that can effectively rival traditional and centralized API providers in terms of both performance and reliability.
Given the impressive traction achieved in the initial seven months of 2023, the team at Bware Labs has decided to allocate a portion of the platform’s revenue to establish an ecosystem fund. This fund aims to further enhance the capabilities of the Blast protocol.
Amidst the quieter backdrop of the current bear market, Web3 technology is rapidly advancing, leading to more complex blockchain products. Projects are in constant search of enhanced infrastructure solutions to accelerate their growth and manage expenses efficiently. In this context, Blast is distinctly emerging as a favored choice.
Boasting response times that are, on average, 2.5 times faster and costs that are 50% lower than is largest competitors, they’ve become the obvious solution for projects requiring vast amounts of data, especially in a cost-sensitive market scenario.
Ecosystem fund structure
In light of the significant traction previously discussed, Bware Labs decided to establish an ecosystem fund to further refine the Blast protocol, advancing its mission of democratizing blockchain access and supporting node operators across all our partner networks.
The fund will maintain a balance of $INFRA tokens and stablecoins, split evenly in a 50–50 ratio.
The $INFRA tokens will automatically be converted from the open market when users acquire or extend their subscriptions. In the near future, as $INFRA payments will be made available in Blast, all payments received in $INFRA tokens will be directed towards the ecosystem fund.
The primary rationale behind this fund is to:
- Augment the Blast protocol’s capabilities.
- Increase the platform’s security.
- Expand its geographical presence and the number of external operators.
Enhancing the Blast protocol
Creating a system of grants for technical contributors from within the community. Whether creating benchmarking systems assessing our protocol’s performance or expanding the SDK support for Blast endpoints to multiple programming languages, Bware Labs will be rewarding all work that further brings value to the platform and allows them to expand the usage of the platform to as many developers and builders as possible.
Bware Labs has been operating a bug bounty campaign for Blast on Immunefi since the platform was launched 1.5 years ago. As Blast evolves, its unwavering commitment to security remains solid. A portion of the fund will be dedicated to sustaining and potentially expanding the scope of this bug bounty initiative.
ABOUT Blast API
BLAST is a next generation, blockchain API platform, featuring the fastest blockchain access to an ever-growing number of blockchains in the Web3 space.