Base loyalty token Blackbird (FLY) is a loyalty and payments token on the Base chain. Blackbird (FLY) functions as the native loyalty token in the Blackbird restaurant network on Base. It serves as a medium for earning rewards through dining activities and making payments at participating restaurants. The token operates within the broader Flynet L3 ecosystem built on Base. Payments and rewards utility FLY is pegged to one cent and used for restaurant purchases and perks. Blackbird (FLY) maintains a fixed value of one cent with USDC minting support. Users earn it primarily through check-ins and spending at Blackbird restaurants, then redeem it for food, discounts, or exclusive events. Restaurants can also use it to settle platform fees on the network. Blackbird Labs issuance Issued by Blackbird Labs as part of its on-chain restaurant platform. Blackbird Labs operates the token as the core of its loyalty and payments system, with Flynet mainnet live since early 2025. The project has backing from investors including a16z, Coinbase, and American Express. FLY integrates with the app for real-world dining rewards and transactions.

AI-written summary, not the project's own copy