Version 1 of the BlowFish Lighpaper, written by Beefy, the head developer of the platform. BlowFish has rapidly changed in the one month of its existence, so we expect this paper to evolve as well. The scope and impact of BlowFish has continuously increased as the team has grown and become more ambitious.
A Platform For Smart Contract Gamification
From its inception, BlowFish presented itself as a fun token, and our ongoing projects have reflected that. BlowFish aims to leverage gamification to return value to BLOWF holders. We achieve this in three primary ways: profit distribution from DApps, token burns, and oracle utility.
CryptoPuffs are cute pufferfish cartoons with mostly-unique appearances. They are NFT’s minted by staking BLOWF tokens or BNB-BLOWF liquidity for a given lockup period. Their design created by a community artist, CryptoPuffs exemplify the strength of community contributions to the BlowFish platform.
Of our current projects, CryptoPuffs has the widest range of value adds to BlowFish because of how broad the NFT platform can be. The minting process implements loot box gamification and directly increases the price of the BlowFish token. We accomplish this by handling minting through a web UI that takes BNB as sole payment in a one-click buy process. The player has the option of locking BLOWF tokens or liquidity, but is only presented with a BNB payment option. The CryptoPuffs smart contract handles the automatic purchase of tokens or liquidity . This seamless experience is inviting to new players who may have never purchased BlowFish before.
Players are incentivized to open “PuffCrates” (i.e. mint new NFT’s) to try find rarer CryptoPuffs while being assured that their spent BNB is locked as BLOWF tokens or liquidity for their specified lock period. It is very possible for a player to find the Puffs they wanted and to also receive back their unlocked BLOWF tokens at a higher valuation than their original BNB payment. This poses a doubly attractive value proposition to players. Their initial payment is only temporarily locked (at the whims of BLOWF price fluctuations), and they receive variably rare NFT’s in return. In a stable BlowFish market, minting NFT’s could feel like a “free” process, even though every mint directly adds to the BlowFish price.
The CryptoPuff marketplace allows players to auction their CryptoPuff NFT’s. Players may seek out rarer Puffs or specific colors or appearances they want to own. The marketplace is expected to have transaction fee that is evenly distributed to CryptoPuff NFT holders. This gives value to even the more commonplace Puffs and also encourages further minting of Puffs to benefit from the fee distribution. [Writer’s note: the marketplace fee distribution is not finalized. There’s complicated market factors here; we’re considering NFT burn mechanisms (fusing Puffs?) to keep the fee revenue:NFT count ratio appealing.]
Maybe the most exciting aspect of CryptoPuffs are the upcoming Enhance and Battle features. CryptoPuffs can be extended with additional smart contracts that associate battle stats to the non-fungible Puff. These stats can be rolled by similar mechanisms as the minting process, locking BlowFish tokens or liquidity. Players could battle their Puffs against each other and place bets. Battles would resemble “idle games” and experience multiple randomness events at certain time periods. These gamification features mesh well with the capabilities of smart contracts and the help of event-time oracles.
Lottery as a Service
BlowFish is offering to host DApp lotteries for other BSC or ETH tokens in exchange for BlowFish advertising and providing BLOWF liquidity. We’re leveraging our DApp development expertise for advertising. See our LaaS announcement for more details.
A provably fair lottery hosted entirely on the blockchain. Utilizing BogTools’ RNG Oracle to obtain off-chain randomness. The BlowFish lottery is run in BNB, and 5% of the final pool is used to automatically purchase and burn BLOWF tokens. This accomplishes a boost to BLOWF price and a secondary increase to BLOWF marketcap with a reduction in circulating supply. [The current lottery is in BLOWF. Next iteration for BNB is planned soon.]
Millionaire Makers was a good example of quick BlowFish DApp development and iteration. The development complexity is low but presents significant value, considering the popularity of normal lotteries.
Other gambling games can be adapted to smart contracts with the use of randomness oracles. The lower gas fees on BSC are reopening gambling game possibilities that closed on Ethereum when high gas fees overcame reasonable winning odds. We’ve been eyeing some of the stagnating gambling projects on Ethereum to port over to BSC.
BlowFish aims to raise funds for charity donations. As an ocean themed token, ocean cleanup charities are appealing to us.
A popular community idea is to host NFT auctions of user-created artwork to raise funds for charity donations. These kinds of events have a nice side effect of boosting community morale as well.
BlowFish DApps would benefit from or need certain off-chain functionality, so we are planning to build a couple oracles for our usecases. The first one planned is an event-time oracle that will trigger callbacks at desired times. This would enable better automation in BlowFish’s lotteries and enable more features on the CryptoPuffs platform.
We’re planning for our oracles to be publicly usable with a cost of BLOWF tokens.