Blast Releases Mainnet, Expected Airdrop Redemption Schedule

Blast announces mainnet launch, also opens access for users to withdraw locked ETH from late November last year.

Azcnews Breaking (32)

Blast, the layer-2 solution affiliated with the NFT platform Blur, officially launches its mainnet after a 3-month trial period. Starting today, users can withdraw their staked assets.

Blast gained prominence since late November 2023 due to its Ethereum (ETH) staking model and “interest compounding” stablecoin. While Ethereum offers a basic interest rate of 3-4%, Blast utilizes customer funds for staking elsewhere, thereby generating additional profits to redistribute.

At that time, Blast began attracting users to bridge assets to accumulate Blast Points, which are the criteria for token airdrop redemption in May 2024.

Additionally, Blast introduced a “referral recruitment” program, offering additional points based on the number of friends they refer. Blast commits to adding an extra 16% bonus if users successfully refer someone and an additional 8% if that person invites others.

Blast’s operating model has been heavily criticized as a “ponzi airdrop farming” scheme, particularly because the project does not allow users to withdraw funds until the mainnet launch. Even the investment fund Paradigm has voiced opposition. Nevertheless, the platform’s Total Value Locked (TVL) continues to soar.

As of now, Blast holds over $2.3 billion TVL from 182,000 community members, including 469,000 ETH, 77.3 million USDC, 67.1 million USDT, 148,000 stETH, and 24.7 million DAI.

Tvl Blast

Dune Analytics
Dune Analytics

Related: What Is Blast? What’s Remarkable About The Layer-2 Project Calling For 20M Capital?

Blast Announces Airdrop

Regarding the airdrop, the project announces a 50% allocation based on Blast Points and 50% for Blast Gold (for ecosystem dApps). The project plans to redeem Blast Points on May 24th.

Arnold Toh, representing The Block, provides insight on Blast:

Blast has accumulated over $2 billion TVL even before the mainnet launch, directly competing with layer-2 giants like Arbitrum One and OP Mainnet. It remains to be seen how this ecosystem will evolve, not to mention when the project announces its airdrop.

Blast has successfully raised over $20 million from reputable investment funds such as Paradigm, Standard Crypto, eGirl Capital, and various other prominent figures in the crypto community. The team behind Blast also includes the founder of the NFT platform Blur, Pacman.

4.8/5

(34 votes)
  1. Avatar of Hamzaabdulsalam
    Hamzaabdulsalam

    [email protected]

    • Avatar of
      Anonymous

      💯🥰

  2. Avatar of Rabiu Abdulkadir
    Rabiu Abdulkadir

    Nice

  3. Avatar of Farizaldy
    Farizaldy

    Good Project 👍

  4. Avatar of Shohrux
    Shohrux

    Nice project 🎁🎁🎁🎁🎁👍✅✅✅✅✅✅🌹🌹🌹🌹🌹🌹🐲🐲🐲🐲🐲🐲

  5. Avatar of Hoan
    Hoan

    Quá tuyệt vời

  6. Avatar of Abdullahi Tukur
    Abdullahi Tukur

    Very good news

  7. Avatar of Ezenwa Victory Miracle
    Ezenwa Victory Miracle

    Very nice app. User friendly and amazing interface.

  8. Avatar of
    Anonymous

    Okay

  9. Avatar of Ammar a Mahmood
    Ammar a Mahmood

    Okay

  10. Avatar of Aliyuadamu
    Aliyuadamu

    This is something nice

  11. Avatar of Khadija Barry
    Khadija Barry

    [email protected]

  12. Avatar of Waseem khan
    Waseem khan

    Ghies waya kana

  13. Avatar of Okegbemi James Olorunsogo
    Okegbemi James Olorunsogo

    I will need the link for the blast airdrops, it shall be wonderful

  14. Avatar of Ahmat Muhammat
    Ahmat Muhammat

    [email protected]

  15. Avatar of DileepKumar
    DileepKumar

    It is listed and successful project and trusted project.

  16. Avatar of
    Anonymous

    Nice

  17. Avatar of Sani Lukman
    Sani Lukman

    Blast to the moon

  18. Avatar of Ogunade
    Ogunade

    I like all about it

  19. Avatar of Bismark Dogbatse
    Bismark Dogbatse

    I love this project

  20. Avatar of ABDULAZIZ MAINASARA
    ABDULAZIZ MAINASARA

    Nice Project 👍

  21. Avatar of
    Anonymous

    A nice project, AZCoiner to the moon

  22. Avatar of Mr.kabir
    Mr.kabir

    [email protected]

  23. Avatar of Mr.kabir
    Mr.kabir

    We are happy to see this new development

    • Avatar of Eke Henry
      Eke Henry

      Good news pls I need the link for the airdrop. [email protected]

  24. Avatar of
    Anonymous

    优秀的项目

  25. Avatar of Suleiman Hamza
    Suleiman Hamza

    Nice

  26. Avatar of Sekou Koulibaly
    Sekou Koulibaly

    Merci

  27. Avatar of Mohd Asif Khan
    Mohd Asif Khan

    Nice project but I want to air drop link

  28. Avatar of
    Anonymous

    A link for the airdrop please?

  29. Avatar of
    Anonymous

    That will be massive. Airdrop link will be appreciated.

  30. Avatar of
    Anonymous

    That’s great.

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