Layer-2 Blast Officially Launches Token Airdrop and Lists on Bybit

After a period of anticipation, the Layer-2 solution on Ethereum, Blast, has officially announced its airdrop and listing on the Bybit exchange.

Layer 2 Blast Officially Launches Token Airdrop And Lists On Bybit

June 26, 2024, the layer-2 blockchain project named Blast has officially launched its token airdrop program and revealed the detailed tokenomics for its BLAST token after a delay in mid-May.

Blast, developed using Optimistic Rollups technology by Tieshun Roquerre, the founder of the NFT exchange Blur, has introduced its native token BLAST, with a total supply of 100 billion tokens. Out of this, 50% (50 billion tokens) will be distributed to users through airdrop events. The token claim period starts at 14:00 UTC on June 26, 2024.

Blast Airdrop Details

In the first airdrop occurring today, Blast will distribute 17 billion BLAST tokens (17% of the total supply) to users who hold Blast Points and Blast Golds—reward points for users and dApps on the Blast network.

Blast Token

To be eligible for the airdrop, users must log in to the Blast Dashboard on the project’s website at least once to take a snapshot, as announced a week earlier.

Claim Your Blast Airdrop Here

The specific distribution for this airdrop is as follows:

  • 7% for Blast Points: For users who have accumulated Blast Points by transferring ETH or the stablecoin USDB to the Blast network.
  • 7% for Blast Golds: For users who have used dApps on Blast and earned Blast Gold rewards.
  • 3% for Blur Foundation: Allocated to the Blur community.

In addition to the user airdrop, other components within the Blast ecosystem will receive token allocations as follows:

  • Community (50%): 17% will be distributed in the first airdrop, with the remaining amount to be gradually distributed over the next 3 years.
  • Project Development Team (25.5%): 1/4 of the tokens will be unlocked after 1 year from the issuance date, with the rest unlocked monthly over the next 3 years.
  • Investors (16.5%): 1/4 of the tokens will be unlocked after 1 year from the issuance date, with the remainder unlocked monthly over the next 3 years.
  • Blast Foundation (8%): Tokens will be gradually unlocked over 4 years from the issuance date.

Related: Layer-2 Blast Calls for $20 Million in Capital

Highlights about Blast

June 2024 is shaping up to be the “airdrop month,” with three major projects launching token distribution programs, and Blast is the latest name following ZKsync and LayerZero. Although it remains uncertain if Blast can maintain sustained interest like the two “giants,” the project is currently garnering significant community support due to its transparency and clarity in announcing the airdrop criteria.

Despite facing criticism and being labeled as a Ponzi scheme, especially by the investment fund Paradigm, since its introduction in November 2023, Blast has managed to attract considerable attention. In just the first 3 days after its launch, the Total Value Locked (TVL) on the Blast network reached an impressive $360 million.

Tvl

Currently, after more than half a year in operation, Blast’s TVL has grown to nearly $2 billion, positioning it as the second-largest layer-2 platform on Ethereum. Contributing significantly to this success are the platforms fantasy.top and pump.fun, both of which have ranked in the top 10 for transaction fees and revenue generated on the Blast network.

Blast Listing on Bybit

Bybit

The Bybit exchange has also listed Blast (BLAST) for spot trading:

  • BLAST Deposits: Opens on June 26, 2024, at 8:00 AM UTC
  • BLAST Listing: June 26, 2024, at 3:00 PM UTC
  • BLAST Withdrawals: Opens on June 27, 2024, at 10:00 AM UTC

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