Deep Dive
1. Blend Lending Protocol (May 2023)
Overview: This major protocol addition lets users borrow against their NFTs without set repayment dates. It directly impacts users by providing liquidity for NFT holders without forcing a sale.
The feature is a peer-to-peer system where lenders offer funds and borrowers post NFTs as collateral. Loans are perpetual, and a Dutch auction mechanism triggers if a lender exits, giving others a chance to refinance. This creates a new utility layer for NFTs on Blur's marketplace.
What this means: This is bullish for BLUR because it expands the platform's functionality beyond simple trading, potentially increasing user engagement and locking in NFT collateral. It makes the ecosystem more valuable by adding a core DeFi service.
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2. Governance & Tokenomics (2022–2027)
Overview: The foundational code for Blur's decentralized governance was established at launch. It dictates how BLUR token holders vote on proposals and manages the vesting schedule for team and investor tokens.
Of the 3 billion total BLUR supply, 51% is allocated to the community. Tokens for contributors, developers, and investors are locked under a 4–5 year vesting plan that extends through February 2027. This long-term structure is designed to align incentives and prevent sudden sell pressure.
What this means: This is neutral for BLUR in the short term as it's a pre-existing framework. It becomes bullish over the long term by reducing the risk of large, unexpected token releases that could lower the price, promoting stability.
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Conclusion
Blur's last significant coded feature was the 2023 Blend launch, shifting focus from trading to NFT-fi. The project's trajectory remains tied to its established tokenomics and NFT market cycles. For real-time code commits, where should developers look—GitHub, official Discord, or project blogs?