What is Boost?

Boost, (not) backed by Paradigm

Summary

Boost is a protocol that facilitates leveraged Blast airdrop farming via liquidation and oracle free loans.

Once Blast L2 launches, Boost will turn into a protocol that helps boost Blast ecosystem projects to the next level.

How it works

Two types of users will use Boost:

Lenders Lenders will likely comprise of users that have ETH but are bearish on Blast L2. These users can sell their future Blast airdrop into ETH today. They will receive their principal once Blast unlocks withdrawals in February.
Bidders Users that are bullish Blast and want to farm the airdrop with leverage can do so through Boost. They simply deposit ETH to pay the lenders their interest today, in order to multiply their blast airdrop by farming with a larger amount of ETH provided by lenders.

Example

Each epoch will be 2 days.

Imagine a scenario where Alice lends 100 ETH, and she is the only lender for this epoch.

Assume that Bob and Carol were the only bidders, and they each bid 10 ETH each to earn the BLAST airdrop for Alice's 100 ETH.

As soon as the epoch ends, the current pools will be locked. New (empty) pools will start where lenders and bidders can start depositing for the next epoch.

Results:

Alice Alice will be paid Bob and Carol's combined 20 ETH in interest today. Alice will earn 100 BOOST spins today to earn BOOST points (1 spin per 1 ETH). Alice will receive her 100 ETH back in February (once Blast enables ETH withdrawals). Her total profit will be 20 ETH + 100 BOOST spins
Bob Bob will pay 10 ETH today. Bob will earn 10 BOOST spins today. Bob will earn the BLAST airdrop as if he farmed 50 ETH (which is half of Alice's 100 ETH because Carol also bid 10 ETH) once the BLAST airdrop can be claimed. Bob's total returns will be 10 BOOST spins, the BLAST airdrop from farming 50 ETH, minus 10 ETH that he paid in interest.

Public Good / No Fees

There will be no fees on any ETH lent or bid when using Boost.

There will be no fees on the Blast airdrop given to bidders.

Boost developers will just be eligible for the TVL referral rewards (in Blast points) given out by the Blast foundation.

Last updated 4 months ago

How it works

Two types of users will use Boost:

Lenders Lenders will likely comprise of users that have ETH but are bearish on Blast L2. These users can sell their future Blast airdrop into ETH today. They will receive their principal once Blast unlocks withdrawals in February.

Bidders Users that are bullish Blast and want to farm the airdrop with leverage can do so through Boost. They simply deposit ETH to pay the lenders their interest today, in order to multiply their blast airdrop by farming with a larger amount of ETH provided by lenders.

Example

Each epoch will be 2 days.

Imagine a scenario where Alice lends 100 ETH, and she is the only lender for this epoch.

Assume that Bob and Carol were the only bidders, and they each bid 10 ETH each to earn the BLAST airdrop for Alice's 100 ETH.

As soon as the epoch ends, the current pools will be locked. New (empty) pools will start where lenders and bidders can start depositing for the next epoch.

Results:

Alice Alice will be paid Bob and Carol's combined 20 ETH in interest today. Alice will earn 100 BOOST spins today to earn BOOST points (1 spin per 1 ETH). Alice will receive her 100 ETH back in February (once Blast enables ETH withdrawals). Her total profit will be 20 ETH + 100 BOOST spins

Bob Bob will pay 10 ETH today. Bob will earn 10 BOOST spins today. Bob will earn the BLAST airdrop as if he farmed 50 ETH (which is half of Alice's 100 ETH because Carol also bid 10 ETH) once the BLAST airdrop can be claimed. Bob's total returns will be 10 BOOST spins, the BLAST airdrop from farming 50 ETH, minus 10 ETH that he paid in interest.