By
Steve Muchoki
June 26th, 2024
The OFF token has been designed to incentivize and reward committed users of the BlastOff platform.
BlastOff, a platform that serves as a launchpad for native tokens and a yield aggregator on the Blast network, has announced that it is set to list its native token $OFF following the success of the Initial Dex Offering (IDO).
The platform has been on a meteoric rise as it has distinguished itself within the DeFi space and has achieved some milestones. Blastoff’s concept secured a runner-up position at the Blast Big Bang event. It also boasts a unique testnet performance, with $24 million in total value locked (TVL). The platform has built a strong community with over 100,000 engaged followers across various platforms. All these achievements and uniqueness are a testament to the growth and continuous adoption of the platform.
One of BlastOff’s innovative concepts is its Native Yield IDO (YIDO). This innovation allows users to stake ETH, or stablecoins, with the potential to generate yield while also supporting new projects without directly investing in them. YIDOs have several benefits, including generating passive income, early access to promising projects, and portfolio diversification.
$OFF Token: Fueling Growth and Rewarding User Commitment
The OFF token has been designed to incentivize and reward committed users of the BlastOff platform. The platform will list the token on June 5 at 10:00 AM UTC, with a total supply of 10 million OFF tokens and an initial market capitalization of $232,500. The crypto listing price will be set at $0.4. To ensure liquidity, the platform has partnered with two exchanges, Gate.io and MEXC, as well as Thruster. Gate.io plans a $30,000 exclusive airdrop competition for GT token holders to support the launch.
There are several other benefits for users of the platform. By staking $OFF, users can amplify Blast force score and unlock loads of benefits, which include a higher allocation for YIDOs, lower fees for native Blast staking, the potential for higher yields and lower fees in YZone, and influence over the platform’s decision-making.
In a post on their X page, the project team emphasized the importance of the token, revealing that they are also working tirelessly to ensure that the set goals are achieved. The OFF token is a crucial part of the platform ecosystem as it will serve as a utility token with the BlastOff platform.
“The $OFF token is a critical component of our ecosystem, serving as the utility token that will power various services and features within the BlastOff platform.”
The Blast network has continued to work to offer reliable and easy-to-use services for its users. They have continued to enjoy compound interest and additional yield opportunities, which are collated automatically by the system. The capabilities are made possible through auto-rebasing, L1 staking, and T-Bill yield solutions.