Rewards Phase 2 | Gold Distribution #1 , New Epoch Weights & Opportunities

Phase 2 rewards on Blitz have started. Blast Points & Gold have switched over and there are new ways to earn.

To make rewards as transparent and accessible as possible, Blitz will publish a blog post at the beginning of every Epoch to update the community on the Epoch’s details and opportunities. This is the first of those blogs, in addition to a Phase 2 primer and recap of Epoch 1.

As of July 16th — The Blast Points and Gold displayed on the Blitz Points Page have switched to display Phase 2 stats. You can still view rewards earned in Phase 1 via the Blast App.

Introduction to Phase 2

The next phase of rewards on Blitz aims to support the launch of Blast Incentives Phase 2, while giving users more opportunities to earn.

• Phase 1 — Rewards earned before June 23rd counting towards the BLAST airdrop
• Phase 2 — Rewards earned after June 23

TLDR / What’s new:

• 1 Month Epochs — Epochs will start and end on the 15th of every month.
• Gold distribution — will take place ~24h after each Epoch pro-rata based on Blitz points
• New ways to earn — market boosts, regular trading competitions, and vaults

Below is the Phase 2 Calendar. It will be available in the Blitz Rewards Docs and updated after every Blast distribution.

Phase 2, Epoch 1 | Completed & Distributed

The first Epoch of Phase 2 finished on July 15th and Gold has just been distributed at the time of writing.

• Timeline: June 23 — July 15 (13:00 GMT)
• Blast Gold distribution date: July 8th (Link)
• Blitz Gold received: 399,160 Gold
• Blitz Gold distribution date: July 16th around ~16:00 GMT

The weights for the Epoch were published in the Blitz Docs at the start of the Epoch and will remain there for a few days after the Epoch ends.

Phase 2, Epoch 2 | Current Epoch & New Weights

Below are the details and allocation of rewards for the current Epoch.

• Timeline: July 15 — Aug 15 (13:00 GMT)
• Blast Gold distribution details: TBD (according to their Blog this should be the first week of every month)
• Blitz Gold distribution date: August 16th (within 24hrs of epoch ending)

Epoch Weights [Allocation of Rewards]

The rewards for this Epoch will be distributed using the weights below. To the right of each weighting is how you can earn. Blitz Points are distributed throughout the epoch (every ~1h) and Gold is distributed pro-rata to Blitz Points earned once the Epoch has completed.

• 25% Taker volume — trade using market orders
• 15% Maker volume — trade using limit orders
• 5% Skate Vault — deposit USDB into the Skate Vault to earn yield + Gold. Learn more at the bottom of the blog.
• 2.5% Trading comps* — Gold prizes for the top traders by % PnL
• 2.5% LP Positions — provide liquidity to wETH-USDB and soon BLAST-USDB pools
• 50% Market Makers — who qualify for the Maker Program based on their Q-score

*The Gold allocated for trading competitions is used in the subsequent Epoch. For example, the 2.5% allocated from Epoch 2 will be used for competitions in Epoch 3.

Market Boosts — Reward Multipliers!

New to Phase 2: market boosts increase the amount of rewards you can earn for trading specific markets. This applies to both Taker and Maker allocations.

Epoch 2 Boosts

The below markets will have the following reward boost multipliers for this Epoch:

• BLAST-PERP 1.5x
• wETH-USDB 3x
• BLAST-USDB 3x (launching soon)

Trading Competitions

Blitz will aim to host regular trading competitions throughout Phase 2, giving traders more opportunities to win Gold + USDB.

In Epoch 2 we are planning 2x 5-day competitions. The Gold will consist of the 5% trading competition allocation from Blast Distribution #1. As mentioned above, trading competition allocations are used for the subsequent Epoch.

• 5% of Blast Distribution #1 = 0.05 * 399,160 = 19,958 Gold for Epoch 2 competitions

Below are the tentative dates & prize pools for competitions during Epoch 2. These are subject to change and once confirmed will be announced on X.

Final Words & Community Feedback

Blitz aims to design a rewards program that is transparent and accessible, whilst helping provide the best experience possible for traders.

We believe this is reflected in the weights and initiatives for this Epoch 2 of Phase 2. However, every Epoch offers a new opportunity and we encourage the community to ask questions and share their feedback so we can consider it for the future.