Baseline mechanics were built with fairness in mind. As is common with any launch, however, technically advanced adversaries can and will use sniper bots to secure entry at the cheapest price, leaving the rest of participants buying at risk premiums. To address this unfair dynamic, we’re launching the Initial Baseline Value (IBLV) Event!The Initial Baseline Value (IBLV) EventThe IBLV Event is an opportunity for qualified community members to participate in setting the Initial Baseline Value (...

Baseline mechanics were built with fairness in mind. As is common with any launch, however, technically advanced adversaries can and will use sniper bots to secure entry at the cheapest price, leaving the rest of participants buying at risk premiums. To address this unfair dynamic, we’re launching the Initial Baseline Value (IBLV) Event!The Initial Baseline Value (IBLV) EventThe IBLV Event is an opportunity for qualified community members to participate in setting the Initial Baseline Value (...

In a previous post, we introduced Jimmy’s Stimmy Plan: Baseline Protocol will share team fees equally with a community-owned contract called Jimmy’s Stimmy. Qualified recipients will be able to claim their pro-rata share from this contract. https://mirror.xyz/0xe7AD459A24A10C5E94B76CcD24da62A8394eBf5f/bS6Ofzk0nwtoZqQNYG9I92ytIrkvVVpNzumCGtM5YTg While the frontend will be available next week, we wanted to share instructions on how to claim directly from JimmyStimmy contract.Who qualifies?See t...

In a previous post, we introduced Jimmy’s Stimmy Plan: Baseline Protocol will share team fees equally with a community-owned contract called Jimmy’s Stimmy. Qualified recipients will be able to claim their pro-rata share from this contract. https://mirror.xyz/0xe7AD459A24A10C5E94B76CcD24da62A8394eBf5f/bS6Ofzk0nwtoZqQNYG9I92ytIrkvVVpNzumCGtM5YTg While the frontend will be available next week, we wanted to share instructions on how to claim directly from JimmyStimmy contract.Who qualifies?See t...

Operation YEV (YES Extractable Value) is a mitigation strategy devised and implemented with the oversight and guidance of the community multisig signers and the Blast team. For background information, please see our incident disclosure.SummaryIn Operation YEV, we compose multiple flashloan arbitrage swaps and liquidity rebalances into a single transaction in order to maximize the liquidity we capture above the BLV. All captured liquidity is sent to a community-governed multisig. The operation...

Operation YEV (YES Extractable Value) is a mitigation strategy devised and implemented with the oversight and guidance of the community multisig signers and the Blast team. For background information, please see our incident disclosure.SummaryIn Operation YEV, we compose multiple flashloan arbitrage swaps and liquidity rebalances into a single transaction in order to maximize the liquidity we capture above the BLV. All captured liquidity is sent to a community-governed multisig. The operation...

Dear community members, Jimbo was a proof-of-concept designed to test the limits of onchain liquidity. This experiment was cut short when a hacker thrust the protocol into a precarious state with the theft of 4,048 ETH. In this dark moment, most teams would’ve given up and, under the guise of anonymity, disappeared into the ether. We are not that kind of team. The months that followed were characterized by uncertainty and non-stop grind to rebuild the system from scratch. What gave us purpose...

Dear community members, Jimbo was a proof-of-concept designed to test the limits of onchain liquidity. This experiment was cut short when a hacker thrust the protocol into a precarious state with the theft of 4,048 ETH. In this dark moment, most teams would’ve given up and, under the guise of anonymity, disappeared into the ether. We are not that kind of team. The months that followed were characterized by uncertainty and non-stop grind to rebuild the system from scratch. What gave us purpose...

Introducing Universal Baseline Income (UBI) - our initiative to distribute Blast Points and Blast Gold for activities that build a broad and deeply liquid YES.YES is entering its 3rd week of existence. There is a total of 5,107 ETH in the pool. Average daily volume is $18.6M/day with not a single day less than $1M/day. By all measures, YES-ETH has become an anchor liquidity pair for entire Blast ecosystem. This is just one example of what Baseline mechanics are capable of. We are now ready to...

Introducing Universal Baseline Income (UBI) - our initiative to distribute Blast Points and Blast Gold for activities that build a broad and deeply liquid YES.YES is entering its 3rd week of existence. There is a total of 5,107 ETH in the pool. Average daily volume is $18.6M/day with not a single day less than $1M/day. By all measures, YES-ETH has become an anchor liquidity pair for entire Blast ecosystem. This is just one example of what Baseline mechanics are capable of. We are now ready to...

In case you missed it, this is what we discussed in the community call on Jan. 18th, 2024! TL;DRWe’re going to audit feb5, launching in Feb, CAN YOU GUESS THE CHAIN!Lots of new improvements to the product, read the docs for details https://docs.baseline.markets/Will share the repayment plan soonMore community calls will be heldProject Overview and DevelopmentContracts are mostly written, undergoing testing, with an audit scheduled for next week.The launch timeline is anticipated around mid to...

In case you missed it, this is what we discussed in the community call on Jan. 18th, 2024! TL;DRWe’re going to audit feb5, launching in Feb, CAN YOU GUESS THE CHAIN!Lots of new improvements to the product, read the docs for details https://docs.baseline.markets/Will share the repayment plan soonMore community calls will be heldProject Overview and DevelopmentContracts are mostly written, undergoing testing, with an audit scheduled for next week.The launch timeline is anticipated around mid to...

SummaryFunds are safe. The protocol is not at risk.On March 22, 2024, a security researcher [1] disclosed a bug in the Baseline Credit Facility.A bug in the Credit Facility defaulting logic has caused the protocol to still count the defaulted YES towards the circulating supply. This means the protocol keeps additional irredeemable ETH for this supply of already burned YES, suppressing the protocol growth.Mitigation process includes removing liquidity above the BLV price.BackgroundLast Friday,...

SummaryFunds are safe. The protocol is not at risk.On March 22, 2024, a security researcher [1] disclosed a bug in the Baseline Credit Facility.A bug in the Credit Facility defaulting logic has caused the protocol to still count the defaulted YES towards the circulating supply. This means the protocol keeps additional irredeemable ETH for this supply of already burned YES, suppressing the protocol growth.Mitigation process includes removing liquidity above the BLV price.BackgroundLast Friday,...