$BLP

$BLP is the ownership token of the liquidity pool that cannot be freely circulated in the trading market, and its utility is to capture most of the Protocol’s Revenue.

You can mint $BLP by injecting liquidity ($USDT) into the liquidity pool, or you can flexibly withdraw your $USDT and burn $BLP. All $BLP Holders will enjoy a share of the BLEX protocol's revenue and be able to withdraw the earnings freely.

Buy & Burn $BLP

Users buy and redeem $BLP with $USDT. The bid price is bought at the current price. That is, buying and selling does not affect the price of $BLP. Users need to pay a certain percentage of $USDT fee for purchasing Mint and redeeming Burn. After the user buys, they need to wait for 15 minutes before they have the right to redeem.

Of course, the price of $BLP is not stable. In the beginning, 1 $BLP = 1 USD, and the price of $BLP will fluctuate with the balance of $USDT in the liquidity pool.

Yield captured by liquidity pool

The handling fee consists of the following 3 parts:

• Transaction fee: opening fee, closing fee

• Funding Difference: Funding Received - Funding Expended

• Other Fee: Mint & Burn $BLP

In V0.6, 100% of the Revenue related to fees will be returned to the liquidity pool, and 100% will belong to $BLP Holders.

$BLP AUM Management

The AUM of $BLP requires a minimum level. If the level is too small, it cannot support the regular operation of the protocol. Therefore, in the early launch, the founding team will provide 1 million $USDT for BLEX to ensure the most basic liquidity.

Under normal conditions, the liquidity pool can be bought or sold at real-time prices; in extreme cases, when the minimum line of the liquidity pool is reached, the liquidity is very limited, and a liquidation settlement will be initiated.