Blast Foundation Distributes 17B BLAST Tokens in Airdrop

Blast Foundation a Layer 2 network, announces its Phase 1 airdrop of 17b BLAST tokens on June 26. The airdrop includes incentives for ETH and USDB bridge users.

Blast, a Layer 2 network, has released information on its much-awaited airdrop.

According to a social media post, the protocol’s governance body, Blast Foundation, will launch phase 1 airdrop on Wednesday, June 26, at 10 a.m. ET, 10 p.m. HKT, and 4 p.m. CET, giving out 17 billion BLAST tokens.

Seven percent of those seventeen billion dollars will go to users who bridged ETH or Blast’s stablecoin USDB to kickstart the protocol’s liquidity. A further 7% of the first airdrop will go to users who earn Blast Gold by taking part in decentralized applications, with the remaining 3% going to the Blur Foundation “to distribute to the Blur community for both retroactive and future airdrops,” as per Blast’s tokenomics report.

Details about tokenomics beyond the June 26 airdrop were revealed by Blast. 50% of the 100 billion token supply was set aside for the community by the protocol, and more community airdrops are planned over the following three years. The tokenomics paper says that during that time, investors and the Blast Foundation would receive 16.5% and 8% of the token supply, respectively, while core contributors would earn 25.5%.

Tieshun Roquerre, who also established the NFT marketplace Blur, is the creator of Blast. Blast aims to develop a native yield model for stablecoins and Ethereum. On February 29, the platform’s mainnet became live.

The crypto statistics tracker DeFiLlama states that Blast has approximately $1.67 billion in total value locked.