Blast Announces Tokenomics, Airdrop Scheduled for 9 PM Tonight

Layer-2 platform on Ethereum, Blast, has confirmed the token airdrop timing for community users at 09:00 PM on May 26th (Vietnam time).

Blast Announces Tokenomics, Airdrop Scheduled for 9 PM Tonight

After a missed appointment in mid-May, today on June 26, 2024, Blast, the Layer-2 blockchain built on Optimistic Rollups technology by Tieshun Roquerre, founder of the NFT exchange Blur, has officially launched its token airdrop program for users and announced tokenomics for the BLAST token.

Blast's token will be named BLAST, with a total supply of 100 billion units. Out of this, 50% will be allocated to users through various airdrops. The token claim time will be at 09:00 PM on June 26, 2024 (Vietnam time).

General Information about Blast's BLAST Token

In the first airdrop today on June 26th, this Layer-2 platform will distribute 17 billion BLAST tokens (accounting for 17% of the total supply) to users who own Blast Points and Blast Golds - airdrop points for decentralized applications (dApps) stationed on the network - provided they have logged into the Blast Dashboard on the project's website at least once to perform the previously announced snapshot one week ago.

Specifically:

• 7% for Blast Points: users accumulating Blast Points from transferring ETH or USDB stablecoins to Blast.
• 7% for Blast Gold: users who have used dApps on Blast to receive Blast Gold points.
• 3% for Blur Foundation: allocated to the Blur community.
  Allocation of tokens in Blast's first airdrop

In addition, other components of the ecosystem will also receive token allocations, including:

• Community (50%): 17% allocated in the first airdrop, with the remainder distributed over the next 3 years.
• Project development team (25.5%): 1/4 unlocked after 1 year from token issuance, with the rest unlocked monthly over the next 3 years.
• Investors (16.5%): 1/4 unlocked after 1 year from token issuance, with the rest unlocked monthly over the next 3 years.
• Blast Foundation (8%): gradually unlocked over a 4-year period from token issuance.

Blast's Token Allocation

June 2024 can be dubbed the "airdrop month," witnessing up to 3 airdrops, with Blast being the latest following similar token distribution programs from the two giants, ZKsync and LayerZero.

• Kicking off the "June airdrop" was ZKsync, which announced a distribution of 17.5% of the total ZK supply to 695,232 eligible wallets. However, the community quickly noticed anomalies in ZKsync's airdrop criteria, leading many to believe it was an event tailored for insiders of this Layer-2. As a result, ZKsync's FDV plummeted by 40%, largely due to selling pressure from airdrop-receiving wallets.
• Following that, LayerZero allowed users to receive ZRO at 06:00 PM on June 20, 2024 (Vietnam time), sparking controversy over its "Sybil hunt" program, which saw continuous halts and restarts.
• Blast is the third project to airdrop in June 2024. While it remains to be seen if Blast will face a similar fate as the aforementioned giants, the project is currently receiving significant community support for openly and transparently outlining the criteria for receiving airdrop allocations.

Despite initial criticisms as a Ponzi scheme and fraudulent model and facing opposition from investment firm Paradigm since its introduction in November 2023, Blast continues to attract attention from users, with Total Value Locked (TVL) on this Layer-2 reaching an impressive $360 million USD in just the first 3 days.

As of now, after more than half a year since its launch, Blast's TVL stands at nearly $2 billion USD in asset value on the network, securing its position as the second-largest Layer-2 on Ethereum. Contributing significantly to Blast's ranking in the TVL chart are two platforms of widespread interest: fantasy.top and pump.fun - both ranking in the top 10 for transaction fees and revenue generated on the network.