Blast Network Airdrop Now Available to Phase 1 Participants

The Blast Network Airdrop is now available as the Ethereum (ETH)-based layer two (L2) network looks to reward its Phase 1 participants.

The Blast network, a layer two (L2) network based on Ethereum (ETH) and incorporating native yields, has announced that its community is eligible to claim the $BLAST token airdrop within the next 30 days. The Blast App, developed by Arcade Research, will facilitate Phase 1 of the BLAST airdrop.

As a first step, Arcade Research has released the Blast App, which community members can use to claim their Phase 1 airdrop.

After claiming, community members can claim ongoing Phase 2 rewards through the app, and in 4 months, full wallet functionality will go live. pic.twitter.com/VWu5FV6nAw — Blast (@Blast_L2) June 26, 2024

In the initial segment of the airdrop, the Blast network will distribute 17 billion BLAST tokens. Approximately 7 percent of the 17 billion will be allocated to the users who assisted in the network’s liquidity bootstrapping by bridging Ether and its native stablecoin USDB.

More airdrops are expected to occur in the next three years, and the Blast network has allocated 50% of the total 100 billion supply to the community. The Blast network’s primary contributors received 25.5 percent of the total supply. In the interim, the Blast Foundation and early investors received 8.5% and 16.5% of the total token supply.

The Blast network has expanded into a dynamic layer-two ecosystem on the Ethereum blockchain, with a total value of over $2 billion that has been secured. According to its website, the Blast network has registered over 200 decentralized applications (dApps) and accumulated over 1.5 million users.

Remarkably, the USDB stablecoins of the Blast network are the fifth most frequently used and the fourth most commonly held stablecoin globally. Despite being an EVM-compatible chain, the Blast network heavily depends on its native Dapps, which are Thruster DEX, Juice Finance, Hyperlock Finance, and Ring Protocol head.

The following are additional significant airdrops:

Notcoin (NOT), a tap-to-earn meme initiative based on Telegram, distributed 11.5 million tokens to its users, as Coinspeaker previously reported. Remarkably, the Notcoin project distributed more than 90% of the total NOT supply to the community through in-game mining, launch pools, and trading activities. The project has developed into a midcap altcoin with an average daily traded volume of over $600 million and a market capitalization of approximately $1.6 billion.

The LayerZero project recently announced an airdrop that distributed 38.3 percent of the 1 billion total supply to community members. Within three years of unlocking, the LayerZero team distributed 32.2 percent of the total ZRO tokens to strategic partners. Core contributors with three years of vesting received the remaining 25.5 percent.