Bluefin announced in a blog post on Thursday that token holders will have the ability to propose and vote on important protocol decisions. To submit a proposal, individuals must have a minimum of 10,000,000 BLUE in voting power. The voting power will be determined by the number of tokens locked into a proposal. The voting process involves a forum discussion and an on-chain vote on the Bluefin Governance portal.
The token allocation includes 32.5% for user incentives, 8.5% for protocol development, 6.5% for the treasury, and 4.5% for the liquidity reserve. Additionally, 20% is designated for “core distribution” with a three-year vesting period. The maximum supply of BLUE will be 1 billion, and the initial circulating supply is 116 million tokens.