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.

Usage

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.

Increasing security

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.

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Blast’s journey towards decentralization started with the Houston Incentivized Testnet, a program created to bring the platform to the level of sustainability and security needed for maintaining best-in-industry performance after full decentralization.

The purpose of the Testnet

The purpose of the testnet was to verify all the technical aspects involved in the decentralization of the Blast API Platform. It also includes the Integrity and Staking protocols, scoring algorithm and in-house built proxy all of which should allow Blast to keep its superior performance within the industry even after decentralization. At the same time, Houston Testnet onboarded and prepared Node Providers for the mainnet launch while giving them the option to earn the necessary funds to join the platform in its production state.

Successful Program and Stress Testing

According to Bware Labs the program was beyond successful, as by the end of the Stress Testing period, Blast recorded an average throughput beyond 40000 RPS. The estimated initial throughput that will be supported on the mainnet revolves around 100k RPS With the launch of Blast’s mainnet, the speed and reliability of the API platform will rely mainly on the Proof of Quality mechanism, which refers to enabling node owners to join the Blast Protocol in a permissionless manner as Node Providers, provided that their nodes can satisfy the platform’s performance and data integrity standards.

Moreover, according to Bware Labs CEO Flavian Manea, Mainnet brings the chance for the community to participate in the protocol by delegating the company’s INFRA tokens to available staking pools.

Node Providers will thus have to stake tokens in order to participate in Blast’s protocol, other users can delegate to a Node Provider from within Blast’s delegation explorer, an easy-to-use web interface available at explorer in order to earn an APY. Last but not least, the governance mechanism for future development initiatives and improvements of Blast and its Decentralized Infrastructure Protocol will also rely on Blast’s token holders as well.

“The biggest challenge is being true to your word when it comes to what you want to bring to the table. Maintaining industry-level standards in terms of quality while running the platform in a decentralized manner is no easy feat. In order to tackle that we had to find our own routes and methods, that could ensure that the nodes on Blast present the required performance and that would not prohibit the scalability potential of Blast. Now, decentralization is in sight — all hands on deck lads, let’s launch this ship!”—Bware Labs CEO Flavian Manea

ABOUT Blast

Blast is a blockchain API platform that provides easy blockchain access to the most relevant networks in the space. Using Blast, developers are able to get RPC, REST and WebSocket access to an ever-growing number of blockchain networks in just a couple of simple steps.

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ABOUT Bware Labs

The mission of Bware Labs is to create an infrastructure and development ecosystem that can help Web3 builders throughout their entire blockchain journey. The company aims to play a decisive role in worldwide blockchain adoption.

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