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A comprehensive analysis of Blur's history, how to achieve long-term success after surpassing OpenSea?

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Airdrop is just a way to promote growth in the short term. $BLUR is not the savior of Blur market. It is just a symbol of value tokenized by Blur platform value.

What's the Magic of Blur?

Original article by Jeffrey Ye

The development of Blur

Initial stage

Blur completes $11 million seed round, led by Paradigm

• & have spent On March 29, 2022, TheBlock reported that NFT Marketplace Blur announced the completion of an $11 million seed round of funding led by Paradigm, eGirl Capital, Keyboard Monkey, LedgerStatus, 0xMaki, Santiago Santos, Zeneca, Deeze, Andy (Fractional) and other institutions and angel investment.

In a blog post announcing the completion of the funding round, the startup wrote: "The current focus of the NFT market is on the retail experience, but they ignore the growing needs of professional traders. With monthly transactions reaching billions, the infrastructure has failed to keep up, and the Web2 business model is clearly not profitable enough. Our mission is to address these issues and move the NFT field to the institutional level while increasing decentralization." https://www.theblock.co/linked/139617/nft-marketplace-blur-raises-11-million-in-seed-round-led-by-paradigm

• & have spent The largest NFT trading platform at the time was OpenSea, and Blur's founding team insinuated that the OpenSea market's economic model was more Web2. The so-called Web2 model means that the interests of the platform are not reasonably bound to the interests of users, and users cannot be motivated by their contributions to the platform. This corresponds to the looksrare and X2Y2 two Token incentive NFT trading platforms. Blur's initial mission is to build a Web3 decentralized NFT trading platform that is driven by better interests.

2/2022.5.5 NFT market Blur launches beta version

• & have spent On May 5, 2022, according to the official Twitter account, NFT Marketplace Blur launched a beta version, requiring users to invite five people to participate in order to gain access. Blur allows users to view sales of NFT in existing markets in real time and allows users to list NFT in bulk.

The first six of 10 Twitter lines are as follows:

1. Launch Blur Beta: To experience the first real-time trading platform for NFT.

2. Blur is building the best NFT market for professional traders: NFTS already do billions of transactions each month, but existing platforms are slow and need constant refreshes.

3. Trading was supposed to be real-time, lightning-fast and highly reliable: we couldn't find anything that fit our needs, so we assembled a team with experience at MIT, Five Rings, Square and Brex to build Blur.

4. Blur Beta lets you view listings and sales in your existing markets in real time. No need to refresh anymore.

5. Blur Beta offers a new perspective on your portfolio - look at your NFT, activity list, and income statement: When the opportunity comes, you can act quickly by listing and listing directly on Blur in bulk.

6. Reveal is one of the most critical phases in the NFT lifecycle. You no longer have to wait hours to refresh your data. Blur indexes Reveal information faster than anywhere else, automating it.

• & have spent In their presentation on the Beta, the Blur team highlighted four of Blur's strengths: fast data updates, easy user queries and portfolio suggestions. Blur is an NFT trading platform for the aggregator class, and its greatest strength lies in queries.

• & have spent At this time, Blur did not achieve its goal of establishing a "Web3 profit-driven model" in angel financing. The beta is more like a more user-friendly, faster version of OpenSea. Blur's innovation in the NFT market, like the efficient layer2, was impressive and willing to experiment, but ultimately failed to shake the Ethereum backbone with its huge user base. As a result, Blur didn't make much of a splash at the time.

Forming stage

3/ 2022.10.20 NFT 市场 Blur 正式上线，将向用户空投$BLUR Token

• 在经过 5 个月的内测阶段后，NFT 市场 Blur 正式上线，并将向用户空投 BLUR Token 。用户需要于未来 14 天内在 Blur 挂单一个 NFT 才可参与空投。

• & have spent Airdrops are an incentive for traders to pay royalties. Blur is committed to enhancing the infrastructure of NFT, meeting the needs of the NFT market for professional traders, driving institutional adoption, and increasing decentralization. Blur has raised over $14 million in funding from institutional and angel investors including Paradigm, Keyboard Monkey, LedgerStatus, 0xMaki, Santiago Santos, Zeneca, Deeze, and others.

After announcing the official launch and airdrop of TwitterBlur is the professional trader of NFT market. We started Blur because we wanted a faster NFT trading platform. 2/ Blur is a combination of real-time marketplace and aggregator. It allows you to browse and list markets, get information, and manage your portfolio faster than anywhere else. 3/ To build Blur, we assembled a team with experience at MIT, Citadel, Brex, Square, and YC and raised over $14 million from world-class investors and traders. 4/ After 4 months of testing. Our aggregator already has the second highest capacity in the field and is 10 times faster than other aggregators. 5/ The Blur market itself charges zero marketing fees. In short, our marketplaces, aggregators, and advanced trading tools are zero cost for everyone! 6/ Blur was also the first market to implement incentive royalties.

• & have spent As we can see from this, Blur already has three advantages after the private beta phase:

1. Trader friendly high speed aggregator

2. Trader friendly zero market charges

3. Creator-friendly mandatory high royalties

Here, we distinguish between the concepts of Marketplace fees and Royalties:

• & have spent Marketplace fees are usually charged by the NFT trading platform or marketplace. These fees are for the purpose of providing the services of the NFT trading platform or market, such as the display of NFT works, facilitating trading, etc., and are usually automatically deducted from the transaction amount and paid to the platform or market upon the sale or transfer of the NFT. The percentage of these fees and the method of payment are usually specified by the platform or marketplace in its terms of service. The original creators or rights-holders of the NFT are entitled to assign their share of the proceeds from subsequent transactions when the NFT is sold or transferred. When the NFT is re-sold or transferred on the secondary market, these royalties are automatically deducted and paid to the original creator or rights holder. Royalties are usually set by the original creator or rights holder in a smart contract when the NFT is created and are automatically executed when the NFT is traded.

• & have spent Accordingly, marketplace fees of the NFT Market are fees collected by the Platform or market in order to provide services of the Platform or market, while royalties are revenue shares set by the original creators or rights-holders of NFT for the purpose of obtaining royalties upon re-sale or transfer of NFT in the secondary market. Protect the rights and interests of the original creators or rights holders. Both are different in purpose, collection object and payment method, but they are the cost factors to be considered in NFT transaction.

• & have spent Compared with other NFT markets (OpenSea, LooksRare, X2Y2), Blur's zero marketing fees enable users to trade NFT at a lower price, which helps improve the liquidity of NFT transactions.

• & have spent At the same time, higher royalties enable creators and publishers to gain more profits from subsequent transactions of NFT, making them more friendly to NFT copyright holders.

• & have spent In short, the key to Blur's success is making the platform more profitable for users with better "character".

4/2022.12.5 Blur launches second round of airdrop

• & have spent NFT Market Blur's second airdrop, which goes live on 5 December 2022, will be far bigger than the first, with all events before then counted. Official tips for maximizing airdrops include: The more NFT you put on the shelf, the more you earn; Shelf blue chip NFT more effective; Get the NFT on the shelves in other markets through Blur and so on. In addition, the official postscript advises users to complete three sweeps in Blur market before the second airdrop.

5/ 2023.1.3 Blur 对 immutable collections NFT 系列执行最低版税，并向创作者空投 BLUR Token

• & have spent Blur enforces minimum royalties on immutable collections, which will allow it to increase Blur's royalties while discouraging new markets from evading them. Blur will initially implement a minimum 0.5% royalty on the immutable NFT series and will increase the minimum over time (starting at 0.5%, then 1%, 1.5%, 2%, etc.). Blur will continue to collect full royalties for collections using the filter registry and whitelist Blur. The new policy applies to existing/immutable NFT collections where the filter registry is not available.

Fire phase

6/ 2023.2.14 Blur 原生 Token $BLUR 上线

• NFT 市场 Blur 原生 Token $BLUR 已于北京时间今日凌晨上线。过去 3 个月内所有 NFT 市场上的交易者、Care Packages 持有者或在 Blur 上架过 NFT 的用户都有机会获得空投。用户有 60 天的时间来领取空投 Token 。

• $BLUR Token 总供应量上限为 30 亿，本次空投共发放 3.6 亿枚。

In the past 24 hours, Blur project ranked the third in Gas consumption with over 409 ETH consumed

8/2023.2.16 Blur issues royalty renewal policy, including encouraging creators not to use OpenSea

Blur NFT Market has announced an update to its royalty policy, which Outlines a number of options for creator royalties, each of which will affect Blur, Creators, and OpenSea differently. There are four main scenarios:

1. If the collection cannot help but Block, there is no way to ban the zero royalty or optional royalty market, in which case Blur would charge 0.5% and OpenSea would be optional;

2. Disable Blur, any NFT project that bans Blur or other zero royalty/royalty optional markets will be subject to royalty enforcement on OpenSea, but transactions can still be made on Blur, subject to a minimum 0.5% royalty charge;

3. Blur recommends not using OpenSea, Blur expects creators not to use OpenSea, and any NFT project that does not use OpenSea will be subject to full royalty enforcement on Blur;

4. Blur has asked OpenSea to remove the option to set optional royalties for NFT projects on Blur. If OpenSea rescinds this policy, NFT projects will be able to collect royalties on both platforms. Currently, NFT project creators cannot collect royalties on both Blur and OpenSea. They can only collect all royalties on either OpenSea or Blur, but not both.

Blur platform Ethereum NFT hits $460 million weekly transaction volume, overtaking OpenSea for first place

• & have spent Blur has generated $460m worth of Ethereum NFT transactions in the past seven days, a 361% month-on-month increase. OpenSea's transaction volume, meanwhile, increased 12% to $107 million during the period, while the third-placed NFT market was X2Y2, which saw just $11 million in transactions during the same period. In addition, Blur has surpassed Open Sea in daily transactions for the fifth day in a row. Of these, Blur recorded 65,359 daily transactions and OpenSea 39,835 daily transactions on Feb. 19.

Blur's winning formula: Platform motivation

Face the Creator: Encourage royalties

Blur hopes to encourage traders to respect their royalties with their airdrops, and NFT payers who execute high royalties will get more than $BLUR airdrops, as they explain in the Mirror:

*https://mirror.xyz/blurdao.eth/2nba-2j0zHPrBX0iPSNGquZ9s_WotNH6B4e5usz85mM*

• & have spent Traders want to maximize profits, collectors want to support creators, and creators want more royalty revenue.

• & have spent Today (2022.10.20), royalties are not enforceable on the chain, and traders already have many options for zero royalties. For example, they can list royalty-free NFTS on Sudoswap and charge a 0.5% transaction fee, while GEM also aggregates Sudoswap, which directs a lot of traffic to their zero royalty list. Traders would therefore be more willing to buy NFT without royalty

• & have spent Although royalties are not enforceable on the chain, we can also create an incentive structure to increase royalty revenue in the ecosystem. Blur defaults to the highest royalty rates in OpenSea, LooksRare, and X2Y2. Of course, traders can customize their royalty rates when placing NFT in the Blur market.

• 交易者可以在 Blur 上挂单 NFT，并将版税设置为 Sudo 的平台费 (0.5%)，通过这样做，他们可以获得同样的 NFT 利润，同时获得更多的 $BLUR Token 空投。

• & have spent Note: Traders who set their royalties above 0.5% will receive more airdrops.

Face the trader: Three rounds of airdrops

Data: Transaction volume comparison of NFT trading platform before and after Blur three-round airdrop

• & have spent In the week leading up to the launch of Blur (2022.10.19) (the week of 2022.10.16), Blur's transaction volume (3,483.41ETH) was less than one-tenth of OpenSea's (41,081.81ETH).

• & have spent In the week following Blur's launch and first airdrop (week 2022.10.30), Blur's transaction volume increased significantly (44,626.2ETH), surpassing OpenSea's (44,213.39ETH).

• & have spent One week after the first airdrop of Blur (the week of 2022.11.6), the transaction volume of Blur showed a downturn, falling sharply (17,873.71ETH), less than half that of OpenSea (39,830.72 ETH);

• & have spent In December 2022, the month of Blur's second airdrop (December 6, 2022.12.6), Blur's transaction volume proportion keeps rising, getting closer and closer to OpenSea and showing a tendency to surpass it.

• & have spent In the week (2023.2.13-19) of Blur's third airdrop, Blur's transaction volume (87,762.87ETH) far exceeded OpenSea's (17,877.99ETH).

• & have spent As you can see, all three of Blur's airdrops have energized the platform and attracted a large number of consumers.

Weekly trading volume comparison of NFT Trading platform (source: DegenKnow.io)

The first round of airdrops

Blur opened their first airdrop on October 19, 2022.

• & have spent Airdrop targets: Airdrop targets are NFT traders in the past 6 months (in the NFT bear market context).

• & have spent Airdrop form: Get Care Packages with different levels based on the number of NFT transactions in the last 6 months (the higher the level, the more $BLUR you get).

• & have spent Airdrop mission: Attach a single NFT to Blur.

1. The incentive for those who have continued to trade NFT during the bear market of the past six months is a vampire attack on the existing NFT trading platforms. While $BLUR wasn't on the market at the time, participants in the Blur platform valued its high-speed aggregator service (10 times faster than Gem) and zero platform fees.

2. Token 空投本身并不能为受众带来短期利益，且当时 Blur 并未成为市值占比较大的 NFT 交易平台，$BLUR 的持有者更多持观望态度，并因期待自己持有的$BLUR 能够增值，不断为 Blur 平台贡献活跃度。

Second round of airdrop

On 19 October 2022, the rules for Blur's second round of airdrops were released at the same time as the first, and officially opened on 6 December.

• & have spent Airdrop: Users who have NFT on Blur

• & have spent Air drop rules:

A. & have spent The more NFT you list in Blur, the more you get;

A. & have spent Blue chip NFT on the shelf will help you get more $BLUR (but consider contract security);

A. & have spent NFT, which is actively traded on the shelf, is good for getting more $BLUR;

A. & have spent Use all of Blur's list tools to boost rewards;

There will be anti-witch measures, so it doesn't make sense to keep putting NFT's on the shelves at unrealistic prices, or putting NFT's on the shelves with no liquidity;

A. & have spent Perform at least 3 floor sweeps on Blur before the second airdrop is performed.

• & have spent Loyalty rules:

A. & have spent < 50% loyalty - Low Luck

A. & have spent 50-90% loyalty - Medium luck

A. & have spent 90-97% Loyalty - Good luck

A. & have spent 97%+ Loyalty - Very lucky

A. & have spent Loyalty factor: The price of NFT on Blur is lower than on other platforms, and you will gain loyalty.

1. The second round of airdrop focused on the construction of Blur platform itself: on the one hand, increasing the quality of NFT in Blur market; On the other hand, the price advantage enhances Blur's competitiveness.

2. Blur 并未指明 NFT 质量与价格对应空头获取的具体计算公式，但这与 X2Y2 平台 NFT 挂单激励非常类似，其$BLUR 的空投逻辑可以参考 X2Y2。X2Y2 的 NFT 挂单的吸引力逻辑，既包括 NFT 本身的质量和受欢迎度，也包括了 NFT 价格的市场接受度，这与 Blur 相同。因此，为了获得更多的 Token 激励，平台用户会以更低的价格挂售质量更高的 NFT。

NFT ordering excitation formula of X2Y2 Platform (V1)

• & have spent K1: Reward for NFT placement in each block

• & have spent P: The probability of an NFT being sold (i.e., the popularity of an NFT) is calculated by:

A. & have spent Recent transaction frequency of the series to which NFT belongs

A. & have spent The difference between the NFT listing price and the last transaction price, and the base price of the NFT series

A. & have spent Whether X2Y2 platform will approve the NFT to be put on the shelf (if not, P=0)

A. & have spent Whether the NFT belongs to the blue chip project

A. & have spent The NFT has been on the shelves for a long time but is still not for sale

NFT Ordering excitation Formula for X2Y2 Platform (V2)

• & have spent In the second-generation order incentive formula, X2Y2 platform refines the probability P of NFT being sold, further refines the variables affecting the popularity of NFT.

• & have spent Positive factors for the popularity of NFT: (The higher the number, the more popular and easier to sell an NFT)

A. & have spent The total order volume and turnover of this series on the X2Y2 platform

A. & have spent Sales and volume of this series on OpenSea in the past 1-7 days

• & have spent Negative factors for NFT's popularity: (The higher the number, the less popular and harder it is to sell)

A. & have spent The total number of NFT units in the series, especially when the total number exceeds 20,000

A. & have spent The difference between the list price and the base price of the series

• & have spent Placing time: when placing time within two days, the longer the time, the higher the positive effect; After two days, the longer the time, the more negative effects.

The third airdrop

On February 14, 2023, Blur launched their third round of airdrops

• & have spent Airdrop to: All transaction users, care package holders and creators. In addition, users who join its wait list or participate in private beta in May 2022 will automatically receive an additional Blur airdrop assignment. The airdrop collection period is 60 days, and users who do not collect will miss the airdrop.

• & have spent At the same time as this round of airdrops was going on, Blur released a rule preview for the next round of airdrops (starting on March 14), which certainly blew up Blur's NFT market once and for all. Seeing this round of $BLUR airdrop recipients make so much profit, more people are willing to participate in Blur's pilot production.

$BLUR Token 经济学

Token 分配

• & have spent 51% to Blur community members ($1,530,000,000 BLUR);

• & have spent 29% to past and future core contributors with a release period of 4 years ($867,601,888 BLUR);

• & have spent 19% to investors with a release period of 4 years ($565,633,826 BLUR);

• & have spent 1% is allocated to consultants with a release period of four to five years ($36,764,286 BLUR).

Community distribution

• 核心贡献者和启动合作伙伴分发的 BLUR Token 将在相同的时间表下授予，并增加 4 个月的悬崖期。

• & have spent The consultant's BLUR assignment will be awarded in 48 to 60 months, with a cliff period of four to 16 months.

• BLUR Token 的具体释放速度为第一年占总供应量的 40%，第二年占总供应量的 30%，第三年占总供应量的 20%，第四年占总供应量的 10%。

• & have spent $BLUR's economic model improves platform liquidity through continuous incentives to avoid the attenuation of platform liquidity after one-time incentives are released. The model adopts multi-faceted and multi-stage incentive measures, which is conducive to cultivating long-term user habits, enhancing user loyalty and stickiness, and enhancing platform influence.

$BLUR Value Capture: Community Governance

Community Governance based on $BLUR

Blur community proposal classification

• & have spent Blur Improvement Proposals (BIPs) can be classified into three main categories: Core, Process, and Informational.

1. Core proposals: Proposals that need to be implemented on the chain, including financial allocations, etc. See Governance Permissions.

2. Process proposal: A proposal to change a process or implementation. Examples include changes to procedures, guidelines, decision-making processes, changes to the Blur DAO tools or environment, etc.

3. Informational proposal: A common guideline or informational proposal for the community.

Blur community governance process

1. Phase 1 - Research Forum: All ideas and proposals are initially posted on the research forum in order to gather community feedback. All proposals go through stages of improvement and opposition. If the proposal is welcomed and includes feedback, it can proceed to the next step.

• & have spent Duration of discussion: at least 7 days

2. 第二阶段 - 快照投票：第二阶段通过无需 Gas 的快照投票进行。被委派持有最少数量 Token 的社区成员可以提交提案，并将受到 14 天的投票期限。在 14 天之后，如果提案获得多数参与投票的支持，且至少有 30M $BLUR 赞成票，它可以进入链上执行投票阶段。

• & have spent Proposal threshold: $100,000 BLUR

• & have spent Delay in voting: 2 days

• & have spent Voting period: 14 days

• & have spent Quorum: 30M $BLUR

3. 第三阶段 - 计票: 这一阶段涉及创建一项含代码的链上提案进行执行。Tally 可用作与治理合约进行交互的接口。链上提案必须由持有最少数量 Token 的成员发起，并且必须基于成功的第二阶段投票。一旦提出，投票将持续 14 天。如果提案获得多数支持，且至少有 120M $BLUR 赞成票，任何成员都可以排队执行提案，并在 2 天的执行延迟后执行提案。

• & have spent Proposal threshold: 30M $BLUR

• & have spent Voting delay: 1 block

• & have spent Voting period: 14 days

• & have spent Quorum: 120M $BLUR Execution Delay: 2 days

Blur Community Council

To simplify some operations, some activities of DAOs are managed by a board.

1. Safety Board: The Safety Board ensures that the BIPs follow the governance process described above. The safety committee will prevent the passage of proposals that do not follow proper procedures.

2. Marketing Committee: The Marketing Committee facilitates the upgrading of Blur's marketing and aggregator contracts and implements policy decisions around highly dynamic topics such as royalties.

3. Incentive Committee: The Incentive Committee is responsible for managing Blur users' incentives. The Incentive Committee can use 10% of Genesis supply for the incentive program budget (300M $BLUR). The incentive committee can also lend a portion of its budget to provide BLUR's market liquidity (current: $21.9M BLUR). If the full incentive budget is used, governance can supplement it by allocating more funds to incentive committees.

What is the value base of $BLUR?

1. 虽然 Blur 的 NFT 市场近期极为火爆，$BLUR 也已经上线各大交易平台并成为热门 Token ，但是仔细思考$BLUR 本身，或许其目前并没有价值基础。

2. Token 激励类 NFT 平台先行者 LooksRare 和 X2Y2，其 Token 价值都基于其平台的手续费。相比于两个「前辈」，Blur 的 Token 目前完全只能用于社区治理，$BLUR 仅仅是 Blur 平台中无法获得分红回报的治理工具，$BLUR 的市场预期价格只与市场受众对参与 Blur 平台治理的兴趣度相关。目前$BLUR 的价值与 Blur 平台获得的融资相关，但与 Blur 平台的盈利无关，$BLUR 与 Blur 平台的价值锚定关系并不够强。

3. At the end of the day, the reason $BLUR doesn't have a value base is because Blur doesn't have a good enough monetization model. Zero platform fees are a nice gimmick, but it remains to be seen how Blur will actually monetize beyond funding and donations.

Blur's vision of the future

Token 激励类和聚合器类的 NFT 交易平台都在发币或上线早期获得辉煌，虽然他们都为像 Blur 一样超越 OpenSea，但他们后期落寞的教训值得 Blur 借鉴。笔者认为，Blur 想要获得长期成功，需要关注以下几点：

Focus on the "professional trader" market segment and improve aggregator service level

• 空投仅仅是短期促进增长的途径，$BLUR 并不是 Blur 市场的救世主，其仅仅是 Blur 平台价值 Token 化的价值符号。想要 Blur 平台持续向好，需要找到 Blur 的独特点：

In an interview, Blur founder Pacman said: Prior to Blur, the NFT market platform treated NFT as a shopping experience, which was fine for a novice, but it didn't meet the needs of advanced traders looking for instant order books, instant order speed, depth charts, fast charting capabilities and instant data updates, and Blur was designed from the start to cater to professional traders.

• & have spent Professional traders and whales are the biggest contributors to liquidity in the NFT market, driving the vast majority of NFT market activity. Professional traders are the focus of NFT's market service, but OpenSea, which incorporates Gem, does not provide a good professional service for them, and it is the professional traders that Blur has captured the market segment.

• & have spent In the face of professional demand, Blur should maintain its existing advantage of "high speed" and continuously optimize the platform algorithms to avoid being overtaken by other aggregator services.

拓展原生 Token $BLUR 应用场景，增强实用型和金融性

目前 Blur 的原生 Token $BLUR 仅仅能作用于社区治理，应用场景少，金融属性差。

1/ Users are more willing to Token Think of it as an asset, not just a tool.

用户持有 Token 是因为他们有收益预期，通过$BLUR 获取收益的方式应有三：治理 / 分红 / 增值：

1. Governance benefits of $BLUR: Currently, $BLUR only has the application scenario of community governance, and the only way to gain benefits is to put forward proposals beneficial to itself. But this path is extremely difficult and less successful. It is difficult for $BLUR holders to put forward and pass a proposal that is only beneficial to themselves (or the same class), and a large amount of $BLUR is only held by a few wallets. Therefore, it is difficult for Blur to realize real decentralized governance, and it is more likely that it will still face the problem of monopoly of governance rights.

2. $BLUR's dividend income: It is difficult for holders to obtain income through governance. Blur should focus on stable and sustainable income, namely distributing platform income to holders of $BLUR, so as to realize the wealth effect of "money begets money".

3. $BLUR 的增值收益：增值收益是出售$BLUR 获得的收益，这并不涉及平台内部的 Token 流通治理。为提升$BLUR 的增值收益，Blur 一方面要将平台这一产品不断打磨，提升影响力和市场期待值；另一方面要减轻$BLUR 抛压，避免大量$BLUR 抛售带来的市场恐慌与贬值。

2/ Add $BLUR's in-platform gameplay:

• Blur 并未给出$BLUR 在平台内部流通的方式。$BLUR 仅仅用于社区治理使 Token 缺乏内循环，用户无法通过持有或质押$BLUR 而获得更多收益，使$BLUR 的抛压巨大。Blur 应扩充$BLUR 的应用场景和持有福利，增强$BLUR 的适用性和尼日不流通性，减轻抛压。

It remains to be seen whether 3/ stage airdrops will be a long-term play:

• 阶段式的空投，相比于对市场行为的直接 Token 激励，更有助于提升用户获取激励的悬念感，吸引用户更多参与交易，加之 Blur 独特的盲盒玩法，使激励获取更为有趣。但是当新鲜感和娱乐性褪去，并不稳定的激励是否会影响用户市场行为的持续性，有待长期观察和调研。毕竟快节奏的加密市场中，并没有那么多人愿意为不确定的收益付出并等待。