Ethereum L2 Blast Prepares for Explosive Token Airdrop

Key Takeaways:

• Blast Airdrop Details: Blast, an Ethereum Layer 2 network by Blur’s founder, will launch its token airdrop next week, distributing tokens to both developers and early users.
• Eligibility Requirements: To be eligible for the airdrop, users must take specific actions, including signing into their Blast dashboard with their eligible EOA (Externally Owned Account).
• Airdrop Allocation: The airdrop will split 50% of the tokens as Blast Gold for developers and 50% as Blast Points for early users, with Points earned automatically based on wallet balances.
• Dapp Incentives: Developers must distribute all earned Blast Gold to their users, incentivizing the growth and engagement of decentralized applications (dapps) on the Blast network.
• Project Background and Progress: Launched in November 2023, Blast has achieved significant milestones, including a total value locked (TVL) of $2.09 billion and the successful launch of games like “Fantasy” on its mainnet, driving substantial user engagement and daily fee generation.

Blast, an Ethereum Layer 2 network, is preparing to launch its much-anticipated token airdrop next week. Created by Tieshun Roquerre, the founder of the NFT marketplace Blur, Blast has been generating significant buzz in the crypto community. The project announced this major development in a post on X, highlighting the steps users and decentralized applications (dapps) must take to be eligible for the airdrop.

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Eligibility Criteria for the Airdrop

According to Blast’s recent post, users need to meet specific criteria to participate in the airdrop. The distribution is set to occur at 8 a.m. ET on June 25. The project plans to divide the airdrop equally between developers and early users, using two distinct incentive mechanisms: Blast Gold and Blast Points.

Distribution of Blast Gold and Points

Blast Gold is designed to incentivize dapp growth, with developers receiving half of the total airdrop allocation. The project emphasizes that dapps should redistribute any Gold they earn to their users to foster community engagement and platform development. “This means that Dapps should give 100% of any Gold they earn to their users,” the project clarified.

On the other hand, the remaining 50% of the airdrop will be allocated to early users through Blast Points. Users’ wallets will accumulate Points automatically for each block based on their balances. This approach rewards users who have actively engaged with the Blast network, ensuring they benefit from their early participation.

Signing into the Blast Dashboard

To be included in the airdrop calculations, users must sign into their Blast dashboard with an eligible externally owned account (EOA) at least once. This can be done by either receiving an invite or linking the EOA to an existing account. Blast’s official statement emphasizes the importance of this step: “If you are a user and your EOA has Points or Gold, you must have signed into your Blast dashboard with that EOA at least once (either by receiving an invite or linking it to an existing account) in order for it to be included in the airdrop calculations.

The airdrop was initially scheduled for May, but the project announced a delay last month. To compensate for this postponement, Blast has decided to increase the allocation, ensuring that the extended wait benefits the community.

Blast’s Development and Market Impact

Blast has been in early access mode since November 2023, with significant growth and development milestones achieved. At the time of publication, the total value locked (TVL) on the Blast network stood at $2.09 billion, slightly down from the $2.3 billion recorded on June 6, according to DefiLlama data. This robust TVL indicates a strong level of trust and engagement from the community.

Blast has also made waves in the gaming sector. The crypto trading card game “Fantasy” launched on the Blast mainnet in April after successful trials on the testnet. This game’s popularity has contributed to Blast’s rise, with the protocol entering the top 10 platforms by daily fees generated last month.

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Conclusion

As Blast prepares to roll out its token airdrop, the crypto community is eagerly anticipating the event. The structured approach to distributing Blast Gold and Points ensures that both developers and early users are rewarded, fostering growth and engagement within the network. By requiring users to sign into the Blast dashboard with an eligible EOA, the project ensures that only active participants benefit from the airdrop.

The upcoming airdrop is a significant milestone for Blast, reflecting its ongoing commitment to rewarding its community and promoting platform growth. With the total value locked on the network remaining substantial and new applications like “Fantasy” gaining traction, Blast is well-positioned for continued success in the evolving crypto landscape.

Stay tuned for further updates as Blast continues to innovate and expand its ecosystem, driving forward the future of Ethereum Layer 2 networks.

Source: TheBlock