Blast Network Airdrop to Distribute 17% of Tokens Today [June 26]

Key Takeaways:

• Airdrop Launch Date and Distribution: Blast Network will initiate a token airdrop on June 26, distributing 17% of its total supply to early adopters who have bridged assets or used its decentralized applications.
• Specific Allocations: The airdrop includes 7% of the total supply for users who bridged Ether or US Dollar Blast, 7% for contributors to DApps on the network, and 3% reserved for future airdrops by the Blur Foundation.
• Vesting Period for Top Wallets: The top 1,000 wallets by points will have their airdrop tokens vested linearly over six months, preventing immediate full access to their tokens and promoting long-term network engagement.
• Network Growth and TVL: Since its launch in November, the Blast network has grown to become the fourth largest Ethereum layer-2 network, with a total value locked (TVL) exceeding $2.9 billion.
• Community Reactions and Future Plans: While some users have expressed concerns about the vesting requirements, the overall response is optimistic. The airdrop follows a similar trend seen with zkSync’s recent airdrop, highlighting its potential to boost community participation and network growth.

The Blast Network is set to launch a significant token airdrop on June 26, as announced by the team on social media. This airdrop will distribute 17% of the total token supply to early adopters who have supported the network by bridging assets or using its applications.

IT’S TIME FOR $BLAST

The Blast Foundation will airdrop BLAST to the community tomorrow, June 26 at 10AM EST, 10PM HKT, 4PM CET.

Q2 highlights and tokenomics below 👇 pic.twitter.com/iH1SxCQ6uN

— Blast (@Blast_L2) June 25, 2024

Key Details of the Blast Network Airdrop

The airdrop is structured to reward various user activities within the network:

• Bridging Activities: 7% of the total token supply will be allocated to users who have bridged either Ether (ETH) or US Dollar Blast (USDB) to the Blast network.
• DApp Contributions: Another 7% is designated for users who have significantly contributed to the success of decentralized applications (DApps) on the Blast network.
• Future Airdrops: The remaining 3% is reserved for the Blur Foundation, intended for future distribution to its community.

A report accompanying the announcement noted that the top 1,000 wallets in terms of points will have their airdrop tokens vested linearly over six months. This means these users will not have immediate access to sell all their tokens, encouraging a more sustained engagement with the network.

Distribution by Blur Foundation

The Blur Foundation has detailed its plans for its portion of the token distribution:

• Season 3: 1% of the total token supply will be distributed to traders and holders.
• Season 4: 0.5% will be allocated to traders and holders.
• Future Use: Another 0.5% is reserved for future distributions.

The foundation has not yet disclosed the use of the remaining 0.5%.

The tokens will be available for claiming starting at 10 AM ET (2 PM UTC) on June 26, as per the social media post from Blast.

Read More: Top 12 Crypto Airdrops 2024

Blast Network’s Growth and Token Distribution

Since its launch in November, the Blast network has seen substantial growth. According to blockchain analytics platform L2Beat, it is now the fourth largest Ethereum layer-2 network in terms of total value locked (TVL), boasting a TVL exceeding $2.9 billion.

The total token supply distribution plan is as follows:

• Community Distribution: 50% of the total supply will eventually be given to the community, with 17% being released in this first phase starting June 26.
• Core Contributors: 25.5% is allocated to core contributors.
• Investors: 16.5% is set aside for investors.
• Blast Foundation: 8% is reserved to support infrastructure development and ecosystem growth.

Blast Airdrop Allocation | Source: Blast

Tokens for core contributors, investors, and the foundation are subject to a vesting period, unlocking over four years.

Community Reactions

There has been some discontent among the community regarding the vesting requirement for the top 1,000 wallets. An airdrop hunter and user named Olimpio expressed frustration, noting that these top wallets contribute significantly to the network’s liquidity. Despite this, Olimpio remains optimistic about the airdrop’s potential impact.

Comparison with zkSync Airdrop

This airdrop follows a similar event by another layer-2 network, zkSync, which launched its airdrop on June 17. During that event, over 491,000 wallets claimed their tokens, highlighting the ongoing trend of airdrops as a means to incentivize and reward early network participants.

Conclusion

The upcoming Blast Network airdrop represents a significant opportunity for early adopters and supporters of the network. By distributing 17% of the total token supply, Blast aims to reward those who have bridged assets and contributed to its DApps, while also setting the stage for future community engagement through the Blur Foundation’s allocations. As the network continues to grow, this airdrop could play a pivotal role in fostering sustained user participation and network expansion.

Source: CoinTelegraph