Hello SuiTalk !
We are Ballast, a DeFi infrastructure initiative built on Sui. The on-chain DeFi suite by Ballast provides a CEX-competitive experience to DeFi users.
Founded in November 2022, Ballast is one of the first products to offer a complete trading suite solution on Sui. The advantages of the suite model include better user experience compared to a simple AMM : flexible liquidity, easy access for institutional traders, secure and transparent on-chain verification, opportunity to price different types of instruments, and trading robots interoperability.
The Ballast infrastructure unlocks the opportunity to change various types of assets with different levels of complexity in the DeFi space including but not limited to perpetual & quarterly futures, power perpetuals, floor perpetuals, options, exotic options, everlasting options, options vaults, basis trading, fixed yield, structured products, and RFQ.
Our mission
Ballast aims at providing Sui users and projects with a comprehensive infrastructure for building and trading on-chain spot assets and derivatives, and ensuring a CEX-competitive user experience. Thus, Ballast’s mission is the extension of DeFi services offered on Sui and other blockchains as well as the attraction and onboarding of the CeFi audience to on-chain trading and investments.
Core features
AMM & Swap Interface (v1)
Our AMM is composed of a suite of persistent, non-upgradable smart contracts that together create an automated market maker, a protocol that facilitates peer-to-peer market making and swapping of tokens on the Sui blockchain.
Central Limit Order Book model (v2)
Ballast uses a single asset pool, the liquidity of which is sent for market making to the order book . Thus, traders will always have enough liquidity for comfortable trading, and investors can profit from the sophisticated market-making mechanism developed by the Ballast team.
Spot trading (v2)
The secondversion of the Ballast spot DEX on Sui is the first order book implementation that supports on-chain order matching and Sui wallet connection. Ballast also provides users with an opportunity to make instant token swaps at the market price in a single click. Ballast boasts lower fees compared to AMMs. On Ballast, for example, on the SUI/USDC market takers pay 0.1% where 0.05% goes to makers and another 0.05% – to the treasury fund. As for USDT/USDC, the taker fee is 0.04% and the maker’s rebate is -0.02%.
Perpetuals (v3)
Ballast offers a decentralized way to trade perpetual futures contracts meaning that traders have no need to rely on centralized exchanges and trust their funds to a single entity. Instead, funds are stored on users’ wallets e.g. Suiwallet. Ballast’s perpetuals will support leveraged trading, cash settlements, and multi-collateral features.
Options (v4)
The goal of Ballast in terms of options trading is to provide a decentralized platform for their operation and to ensure a convenient and easy-to-use foundational block for well-versed, expert traders and as well as novel traders. Ballast will support partial collaterization for options.
Introducing BLT
1 billion BLT will be minted at genesis and will become accessible over the course of 4 years. The initial four year allocation is as follows:
- 60.00% to Ballast community members
600,000,000 BLT - 21.266% to team members and future employees with 4-year vesting
212,660,000 BLT - 18.044% to investors with 1-year vesting
180,440,000 BLT - 0.69% to advisors with 4-year vesting
6,900,000 BLT
A perpetual inflation rate of 2% per year will start after 4 years , ensuring continued participation and contribution to Ballast at the expense of passive BLT holders.
Incentives for early adopters
Ballast will owe its success to the thousands of community members that join its journey early. These early community members will naturally serve as responsible stewards of Ballast.
15% of BLT 150,000,000 BLT will immediately be claimable by historical liquidity providers and users, based on a snapshot ending at a defined date.
The above 15% is divided up as per follows
4.91664% pro-rata to all historical main-net LPs 49,166,400 BLT
7.08336% split evenly across all historical main-net user addresses 70,833,600 BLT
3% split evenly across all historical test-net user addresses 30,000,000 BLT
Community Treasury
With 15% of tokens already available to be claimed by historical users and liquidity providers, the governance treasury will retain 43% [430,000,000 BLT] of BLT supply to distribute on an ongoing basis through contributor grants, community initiatives, liquidity mining , and other programs.
BLT will vest to the governance treasury on a continuous basis according to the following schedule. Governance will have access to vested BLT at a defined date.
| Year | Community Treasury | Distribution % |
|---|---|---|
| Year 1 | 172,000,000 BLT | 40% |
| Year 2 | 129,000,000 BLT | 30% |
| Year 3 | 86,000,000 BLT | 20% |
| Year 4 | 43,000,000 BLT | 10% |
Team and advisor BLT allocations will have tokens locked up on an identical schedule.
Liquidity Mining Program
An initial liquidity mining program will go live at a defined date. The initial program will run until another defined date and target the following four pools on Ballast:
- SUI/USDT
- SUI/USDC
- SUI/DAI
- SUI/WBTC
5,000,000 BLT will be allocated per pool to LPs proportional to liquidity, which roughly translates to:
- 83,333 BLT per pool per day
- 13.5 BLT per pool per block
These BLT are not subject to vesting or lock up.
After 30 days, governance will reach its vesting cliff and Ballast governance will control all BLT vested to the Ballast treasury. At this point, governance can vote to allocate BLT towards grants, strategic partnerships, governance initiatives, additional liquidity mining pools, and other programs.
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