Blast airdrop to launch June 26, distributing 17% of supply to early users

Christopher Roark4 hours agoBlast airdrop to launch June 26, distributing 17% of supply to early usersThe Blast team announced that its token airdrop would commence on June 26 and that users who bridged assets to the network or used its apps would receive tokens.3272 Total views2 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksEthereum layer-2 Blast network will launch an airdrop for its early adopters on June 26, according to a June 25 social media post from the team. Seventeen percent of the total supply will be released in the airdrop, 7% of which will go to users who bridged either Ether (ETH) or US Dollar Blast (USDB) to the network. Another 7% will go to those who “contributed to the success of DApps [decentralized applications]” on Blast and 3% will go to the Blur Foundation for future airdrops to its community.

An accompanying report stated that wallets ranked in the top 1,000 in terms of points will “vest part of their airdrop linearly” for six months, implying that these accounts will not be able to sell all of their tokens for another six months.

The Blur Foundation claimed that it is going to distribute its share of the token rewards to traders and holders who have used or will use its platform. One percent of the total supply will go to traders and holders in Season 3, 0.5% will be reserved for traders and holders in Season 4, and another 0.5% will be reserved for future use. Blur did not state how the remaining 0.5% will be utilized

The tokens will be claimable at 10 am ET (2 pm UTC), according to the social media post.Source: Blast

According to blockchain analytics platform L2Beat, the blast network is the fourth largest Ethereum layer-2 network in terms of total value locked (TVL). Since launching in November, its TVL has grown to more than $2.9 billion. 

Related:Blast network hits $400M TVL, rebuts claim that it’s too centralized

According to the report, 50% of the Blast token supply will eventually be distributed to the community, with 17% being given out in “Phase 1,” beginning on June 26. The remaining 33% will be distributed in other phases to be announced later.Blast airdrop allocation. Source: Blast

More than one-quarter (25.5%) of the total supply is being distributed to core contributors, 16.5% to investors, and 8% to the Blast Foundation to build infrastructure and grow the Blast ecosystem. Tokens given to core contributors, investors, and the foundation are vested and unlocked over a four-year period.

Some Blast users have complained about the vesting requirement for the top 1,000 wallet holders. Airdrop hunter and X user Olimpio stated, “Trying to be as unbiased as possible since I am top 500, but this is a spit on the face of people that brings liquidity [...] Top 0.1% wallets are subject to this, but how much TVL do they represent from the chain?”

Even so, Olimpio claimed that they were “excited to see how it goes.”

On June 17, layer-2 network zkSync also launched an airdrop, and over 491,000 wallets claimed their tokens at that time.

Magazine: SEC drops Ether probe but still seeks billions in penalties from Ripple# Blockchain# Ethereum# Airdrop# Layer2Add reaction