New wealth code? Top 118 early opportunities on Blast you can't miss (derivatives edition)
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New wealth code? Top 118 early opportunities on Blast you can't miss (derivatives edition)
Seven protocols, including SynFutures and DTX, have clearly stated that they will return 100% of the developer airdrop allocations to the community.
Navigating Web3 tides with focused insightsText by: Azuma, Odaily Planet Daily
On February 24th, Beijing time, Blast, the new-generation Layer 2 network launched by Pacman—the so-called "economic model genius" and founder of Blur—officially announced the final results of its ecosystem application competition, BIG BANG.
Due to Blast’s promise to allocate 50% of its total token supply as airdrop rewards for projects deployed on the network, numerous projects had already expressed interest in joining even before the testnet launch.
In mid-January, Blast officially launched its testnet (with mainnet launch confirmed for February 29) and opened registration for the BIG BANG competition. Ultimately, over 3,000 teams registered to compete for potential token airdrops and exposure to venture capital.
According to the competition results, this round of BIG BANG selected a total of 118 promising projects, including 47 Winners, 31 Runner-Ups, and 40 Honorables, spanning sectors such as lending, DEXs, derivatives, GambleFi, NFT/Gaming, and Infra.
To help readers identify more valuable investment and interaction opportunities among the vast number of Blast ecosystem projects, Odaily Planet Daily has analyzed all 47 Winners and select high-quality Runner-Up and Honorable Mention projects based on factors such as project positioning, funding history, and airdrop distribution mechanisms (some projects return developer airdrop allocations directly to users), aiming to provide deeper insights into the rising Blast ecosystem.
Following our previous coverage of DEXs, we now turn our focus to the "Derivatives" sector. Based on the BIG BANG competition results, the winning projects in this category are as follows:
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Six Winners: 100x Finance, Blast Futures Exchange (BFX), Blitz, Bloom, InfinityPools.finance, SynFutures;
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Four Runner-Ups: DTX, Aark, HMX, Opyn;
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Three Honorables: Core Markets, SphereX, SuperCharged.
Next, Odaily Planet Daily will conduct a detailed analysis of all six Winners and selected Runner-Up and Honorable Mention projects based on their positioning, funding history, and airdrop allocation mechanisms.
Project One: 100x Finance
Social media handle: @100xfinance
Award status: Winner
Funding history: Undisclosed
Developer airdrop allocation mechanism: 100% returned to users, partners, and the community.
Overview: 100x Finance is a self-custodial decentralized derivatives exchange supporting cross-margin trading, offering perpetual contracts, MOVE contracts (profiting from volatility), and spot trading with a CEX-like user experience. By adopting a cross-margin model, users can improve capital efficiency, while their margin balances also earn continuous yield through Blast’s auto-yield mechanism.
Project Two: Blast Futures Exchange (BFX)
Social media handle: @BlastFutures
Award status: Winner
Funding history: Undisclosed
Developer airdrop allocation mechanism: 100% returned to the community.
Overview: Blast Futures Exchange (BFX) is an auto-yield perpetual contract exchange built on Blast, providing user-friendly trading services while allowing users to earn an additional 5% yield on their balances.
Project Three: Blitz
Social media handle: @tradeonblitz
Award status: Winner
Funding history: Undisclosed
Developer airdrop allocation mechanism: 100% returned to the community.
Overview: Blitz is a branch of Vertex, the Arbitrum-based perpetual contract exchange, built on Blast, supporting both spot and perpetual contract trading. Blitz uses a cross-margin model and plans to bridge liquidity between itself and Vertex on Arbitrum to offer deeper market depth.
Project Four: Bloom
Social media handle: @BloomOnBlast
Award status: Winner
Funding history: Undisclosed, but the website lists Pantera Capital, Ankr, Founders Fund, Pyth, Galaxy, and Biconomy among its investors.
Developer airdrop allocation mechanism: 100% returned to long-term users and liquidity providers.
Overview: Bloom is a decentralized derivatives exchange offering up to 50x leverage, zero gas fees, and auto-yield functionality. Bloom's contracts have undergone audit by third-party security firm Zellic; the report will be disclosed upon completion.
Project Five: InfinityPools.finance
Social media handle: @InfPools
Award status: Winner
Funding history: The official documentation mentions that Lemma Labs, the development team behind InfinityPools, raised a seed round in December 2021, with participation from Standard Crypto, Dragonfly, Nascent, Multicoin, Robot Ventures, Coinbase, Uniswap, Wintermute, GSR, Kronos, and Folius.
Developer airdrop allocation mechanism: Undisclosed
Overview: InfinityPools is a decentralized contract exchange claiming to offer infinite leverage (officially up to 10,000x initially limited by asset volatility), no liquidations, no counterparty risk, and no reliance on oracles.
Project Six: SynFutures
Social media handle: @SynFuturesDefi
Award status: Winner
Funding history: In June 2021, SynFutures raised $14 million in a Series A round led by Polychain Capital, with participation from Framework, Pantera Capital, Bybit, Wintermute, CMS, Kronos, and IOSG Ventures.
In October 2023, SynFutures completed a $22 million Series B round led by Pantera Capital, with SIG DT Investments and HashKey Capital participating.
Developer airdrop allocation mechanism: 100% returned to the community.
Overview: A well-established derivatives exchange previously deployed across multiple ecosystems including Polygon, having accumulated $23 billion in trading volume to date.
Project Seven: DTX
Social media handle: @0xDTX
Award status: Runner-Up
Funding history: Undisclosed
Developer airdrop allocation mechanism: 100% returned to the community.
Overview: DTX is a decentralized contract exchange built on Blast, allowing users to open positions on hundreds of cryptocurrencies with up to 100x leverage. DTX innovatively uses NFTs as position tokens, enabling users to easily transfer, manage, and compose their positions using NFTs.
In terms of yield opportunities: First, DTX leverages Blast’s auto-yield mechanism, granting users’ margin balances a native 4% yield; second, DTX returns 100% of developer airdrop allocations to the community; third, DTX refunds all gas spent by users, achieving gas-free transactions; fourth, DTX plans to airdrop its own tokens to active users in the future.
Project Eight: Aark
Social media handle: @Aark_Digital
Award status: Runner-Up
Funding history: The website lists institutional investors including Delphi Digital, OKX Ventures, Big Brain, and Keyrock.
Developer airdrop allocation mechanism: 100% returned to the community.
Overview: Aark was previously deployed on Arbitrum and claims its trading platform supports up to 1000x leverage and assets such as LST/LRT tokens. Additionally, Aark has announced on X that its governance token AARK will undergo TGE on April 1.
Project Nine: Core Markets
Social media handle: @Core_Markets
Award status: Honorable Mention
Funding history: Undisclosed
Developer airdrop allocation mechanism: Undisclosed
Overview: Core Markets is an "intent-driven" decentralized derivatives exchange supporting up to 60x leverage on over 250 cryptocurrencies.
Project Ten: SphereX
Social media handle: @SphereX_XYZ
Award status: Honorable Mention
Funding history: Official Medium notes Fundamental Labs as a key investor.
Developer airdrop allocation mechanism: Undisclosed
Overview: SphereX is a cross-margin supported decentralized contract exchange utilizing a hybrid "on-chain matching + on-chain settlement" mechanism to ensure security while improving transaction processing efficiency.
Preview of Next Article
This article is the second installment in our series exploring early opportunities within the Blast ecosystem (the first being the DEX segment). Focusing solely on the "derivatives" sector, we have reviewed 10 early-stage projects (6 Winners, 2 Runner-Ups, 2 Honorables) offering derivative trading services among the 118 potential projects in the Blast ecosystem.
In our next article, we will shift our focus to the "lending" sector—stay tuned as we continue mapping out the evolving Blast ecosystem.
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