Airdrop Coin Project Entered the Market with 3 Billion Dollars

Blast, one of the Layer 2 projects in the Ethereum ecosystem, made a rapid entry into the market after the airdrop.

At the beginning of this year, Blast distributed tokens to its users who collected points by doing Ethereum staking.

Distributed billions of tokens

A total of 17 billion BLAST tokens were distributed during the highly anticipated airdrop organized by Blast. According to Parsec Finance data, 35% of the distributed tokens have already been received by users.

Blast token has a total supply of 100 billion. The project distributed 17% of the total supply in the first phase of the airdrop.

In the first phase of the airdrop, who would receive how many tokens was determined by how many points Blast users had accumulated.

According to Blast's statements, 25.5% of the total BLAST supply will be transferred to main developers, 16.5% to investors and 8% to the Blast Foundation. The rest will still be used for the community.

Quick entry into the market

According to Ambient data, BLAST token entered the market at a price of $0.03 per token. This gave it a diluted market value of $3 billion.

Blast was criticized last year for opening a bridge that allowed users to deposit money to the platform but not withdraw money. Blast collected deposits worth $2.3 billion in total between November and March.