theblock101

    What is Hyperlock? Overview of the project built on Blast

    ByEvelyn01/05/2024
    Hyperlock is a project built on the Blast ecosystem, attracting users with programs such as Hyper Point, Thruster Credits, Blast Point, and Blast Gold. So, what is Hyperlock? How do you earn points on Hyperlock?  Let's explore the details of the project together with Theblock101 in the article below!

    1.What is Hyperlock?

    Hyperlock is a yield & metagovernance protocol built on Thruster and optimized for Blast. Hyperlock provides boosted rewards to Thruster LPs and helps users earn Airdrops from the project as: Blast Point, and Thruster.

    What is Hyperlock?
    What is Hyperlock?

    2. Operating Mechanism

    2.1. Thruster Staker

    Users who stake THRUST will mint hyperTHRUST, representing veTHRUST locked in Thruster's VotingEscrow contract. This hyperTHRUST token can be staked to receive rewards from Thruster, operational fees, and HYPER tokens from Hyperlock.

    Thruster Staker
    Thruster Staker

    2.2. Liquidity Provider

    When users provide liquidity on Hyperlock, they will receive a 2.5x boost based on their veTHRUST balance. To obtain veTHRUST, users need to lock THRUST tokens in Thruster's VotingEscrow contract.

    The liquidity position on Thruster can be staked into Thruster Gauges to earn rewards in THRUST tokens.

    Liquidity Provider
    Liquidity Provider

    2.3. HYPER Locker

    HYPER Locker can participate in voting and decide on the amount of THRUST emissions from Hyperlock.

    Applications of Hyperlock Governance:

    • Thruster distributes THRUST tokens to liquidity providers.
    • Votes on Hyperlock changes like token issuance and fees.
    • Hyperlock's Resource Management.
    • Thruster Snapshot Voting
    Hyper Locker
    Hyper Locker

    3. Guide to earning points on Hyperlock

    During the Hyper Point earning period, users will earn Thruster Credit, Blast Point, and Blast Gold. Each week, Hyper Points are distributed to users holding Thruster LP tokens.

    3.1. Send Token LP Thruster

    When providing liquidity on Thruster, users will receive Thruster LP tokens. Users who deposit these LP tokens into Hyperlock will earn Hyper Points, Thruster, and Blast Point rewards.

    3.2. Allocate Points to Pool

    Every week, Points will be distributed on Thursday. Points will accumulate in users' accounts based on the proportion of LP tokens deposited. At the end of the week, users can check their Points and allocate them into pools to claim and lock their Hyper Points.

    Targets Quantity
    TVL allocated to Thruster LP Deposit 5,000,000
    Allocation allocated to Thruster LP Deposit 5,000,000
    Hyperlock Yield Liquidity Provider 750,000
    Hyperlock Yield YT holder 250,000
    Guide to earning points on Hyperlock
    Guide to earning points on Hyperlock

    4. Team 

    Hyperlock is an anonymous team; however, it is supported by the teams behind Blast and Thruster.

    5. Roadmap 

    Updating.

    6. Project information

    7. Conclusion 

    Currently, Hyperlock TVL on Blast has surpassed 300M. It is evident that using Hyperlock allows users to earn points in three systems: Hyperlock, Thruster, and Blast. This concludes all the information about Hyperlock that Theblock101 wants to provide to you. We hope that through this article, readers have gained additional insights into this project.

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    Disclaimer: This article is for informational purposes only, not financial advice. Join the Bigcoinchat chat group to update the latest information about the market.

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    Evelyn

    Evelyn

    Fundamentals - focused investing and active participation.

    0 / 5 (0binh_chon)

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