On June 26, the long-awaited Blast airdrop is finally here. Prior to this, Upbit exchange had announced the launch of Blast token trading. These news undoubtedly injected a shot in the arm into the secondary market price of Blast.
Blast airdrop is online
After the airdrop arrived as scheduled, and with the punctual arrival of 22:00 on June 26, along with Tieshun’s speech, Blast’s airdrop arrived as scheduled. It is still unclear the specific correlation between points and token airdrops, but according to the author Judging from the fact that about 2.3 million points (ranked 55,000+ in the entire network) can obtain 50,000 BLAST tokens, users with the highest ranking of about 23 billion points in the entire network can probably obtain 50 million tokens, based on the initial issuance price of US$0.03. About $1.5 million.
At the same time, the strategy of Blast market makers has also been clarified. Blast has allocated 220 million BLAST to 6 market makers for exchange market making. Currently, market makers are gradually transferring BLAST to CEX to prepare for the 23-point BLAST online transaction. The distribution situation is: 80 million → Wintermute; 50 million → Manifold Trading; 30 million → GSRMarkets; 20 million → AurosGlobal; 20 million → AmberGroup; 20000 Thousand → FlowTraders.
With the continuous distribution of airdrops, some people are happy and others are worried, especially the proliferation of fraudulent phishing websites. A user signed multiple phishing signatures on the fake Blast phishing website and lost US$217,947. Even Blast official issued a message to remind users to be careful of fake Blast accounts and users need to be wary of related scams. At the same time, some users complained that the airdrop returns were not sincere: NextGenDigitalVenture partner Christian2022.eth said that he deposited more than $50 million on Blast, but only received $100,000 in airdrops. Even thought Blast was a scam. TheBlock Editor-in-Chief TimCopeland also said that every airdrop farmer must be forced to watch the Blast video when applying for the BLAST token associated wallet. In addition, he claimed that Blast can claim tokens on the App, but is not connected to the APP (the default token collection It needs to be done through BlastAPP). TimCopeland also said that he may have clicked on a fraudulent link.
Despite some criticism, Blast's market performance remains strong after TGE. Just one hour after the airdrop started, BLASTFDV exceeded US$2.6 billion, a single-day increase of more than 20%, and FDV rose to a maximum of US$2.9 billion, in line with the early market prediction of 28±3.
In addition, Coinbase also announced that it will list Blast, which is the recognition of Blast by another major international exchange besides Upbit. As of 11 a.m. today, about 12 hours after the airdrop opened, more than 2.5 million users have completed Claim, and a total of 12.4 billion tokens have been claimed, accounting for 88.63% of the total 17 billion.
Introduction to Blast and Token Economics
Blast is a Layer2 blockchain that allows users to earn income by bridging assets. It provides incentives such as points, gold coins, airdrops and profits to attract users and developers to participate. There are many mining opportunities in the Blast ecosystem, such as Ambient, Juice, Synfutures, nftperp and Munchables, etc.
Blast is developed by Pacman and supported by Paradigm with the goal of creating native benefits for Layer 2. When we deposit tokens into Layer2, we actually host the corresponding tokens in the smart contract corresponding to Layer2 on Layer1. These are idle tokens and are not used to earn revenue. Blast recommends converting ETH and stored stablecoins into stETH and DAI respectively to earn income from staking rewards and vaults.
Blast’s token economics are mainly divided into four categories:
Community: 50,000,000,000 (50%). Blast's success is due to the community of users and builders who contribute to the ecosystem. 50% of the total BLAST supply is reserved for the community and will be distributed through incentive campaigns. 100% of this allocation will go directly into the community. Community distribution is unlocked linearly within 3 years from the date of TGE, and any distribution will be carried out according to the schedule determined by the Blast Foundation;
Core contributors: 25,480,226,842 (25.5%). All tokens allocated to core contributors have a 4-year lock-up period, with 25% of core contributor tokens unlocking 1 year after the TGE date, followed by linear monthly unlocking over the next 3 years;
Investors: 16,519,773,158 (16.5%). All tokens allocated to investors have a 4-year lock-up period, with 25% of investor tokens unlocking 1 year after the TGE date, followed by linear monthly unlocking over the next 3 years;
Blast Foundation: 8,000,000,000 (8%). Grants from the Foundation will be reserved for critical infrastructure and further development of the Blast ecosystem. Foundation allocations unlock linearly over 4 years from the date of TGE.
Blast airdrop rules
In the official Q2 report, details of the first round of airdrops were revealed. This round of airdrop will allocate 17% of the total amount of BLAST (17 billion pieces) to users. The composition of 17% includes: 7% Blast points, 7% Blast gold points, and 3% Blur Foundation. The specific details are as follows:
Blast points: 7,000,000,000 (7%). Users who connect ETH or USDB to Blast bootstrap the initial liquidity of the Blast ecosystem and earn Blast Points during the first phase. These users will be rewarded with 7% of the total BLAST supply.
Blast Gold Points: 7,000,000,000 (7%). Users who contribute to the success of the Dapp will earn Blast Gold Points and will be rewarded with 7% of the total BLAST supply.
Vesting: The top 0.1% of users (approximately 1000 wallets) will receive a linear vesting portion of the airdrop within 6 months. Based on the first phase of activity, vesting is subject to monthly points thresholds.
Blur Foundation: 3,000,000,000 (3%). The Blur Foundation will receive 3% of the total BLAST supply for distribution to the Blur community for retroactive and future airdrops.
Overall, Blast's current points collection is relatively low. Taking the author as an example, I currently have a total of 2.3 million points, which is only ahead of 8.5% of users in the Blast total points rankings. The number one user’s points have been calculated in hundreds of millions. After more than half a year of staking, Blast’s TVL has now reached $2.56 billion; the total number of users is close to 1.6 million. Assuming that 17 billion tokens are evenly distributed at US$0.03 before the market opens, in the most ideal situation, each user can receive an airdrop of about US$300. However, if the weight of points is included, users with low points can obtain even more value. Low.
Price forecast and market analysis
Before the opening of the market, many professionals and institutions predicted the price of Blast: in the pre-market market of WhalesMarket, the current lowest price of pending orders is US$0.0297, and the latest price of completed historical orders is also close to this value. Therefore, in the pre-market market The price can be determined to be $0.03.
Based on the total amount of BLAST100 billion and the initial allocation of 17 billion, the corresponding FDV is US$3 billion and the circulating market value is US$510 million.
The reference data for the circulating market capitalization of other Layer2 projects are as follows: ARB is US$2.7 billion, OP is US$2 billion, STRK is US$950 million, and ZK is US$630 million. According to data provided by L2BEAT, Blast’s TVL is lower than Arbitrum and Optimism, but higher than ZKsync and Starknet, making it slightly underpriced. However, considering that the market’s recognition of Layer2 tokens is getting lower and lower, it can still be considered that the current price and circulating market value are within a reasonable valuation range.
Analysis of market prospects and potential of BLAST
In the long term, the market prospects and potential of BLAST are affected by many factors.
First, Layer 2 solutions are increasingly important in the blockchain industry. They can improve the scalability and performance of main chains such as Ethereum and reduce transaction costs. As more users and developers flock to the Layer 2 ecosystem, BLAST, as a member, may benefit from the growth of the entire industry.
Secondly, Blast’s token economics design reflects the emphasis on the community and core contributors. Community allocation accounts for 50% of the total token supply, showing that the project team hopes to attract and retain users and developers through incentive mechanisms. This design helps build an active and continuously growing ecosystem and enhances the value of BLAST tokens.
However, the market also faces challenges.
First of all, competition among Layer 2 projects is becoming increasingly fierce. Projects such as Arbitrum, Optimism, and ZKsync are all constantly optimizing their technologies and ecosystems. Blast needs to continue to work hard in technological innovation, user experience and ecosystem establishment to stand out from the competition.
In addition, the market’s recognition and acceptance of Layer2 tokens will also directly affect BLAST’s market performance. Although the current price and float market capitalization are considered reasonable valuations, market sentiment and investor confidence may cause price fluctuations. Therefore, Blast needs to enhance market confidence through transparent governance and continuous technological innovation. Future Development and Strategies In order to succeed in the highly competitive Layer 2 market, Blast needs to develop and implement a series of strategies:
Technological innovation: Continuously optimize Layer2 technology to improve transaction speed and security. Explore interoperability with other blockchain projects to enhance the breadth and compatibility of the ecosystem.
Ecosystem construction: Expand the application scenarios of the Blast ecosystem through cooperation with more Dapps. Incentivize developers to build innovative applications on Blast, increasing the diversity and activity of the ecosystem.
Community participation: Strengthen interaction with the community and listen to feedback from users and developers. Through incentive mechanisms and transparent governance, the community’s sense of participation and belonging is enhanced.
Marketing: Increase marketing efforts to increase the visibility and influence of BLAST tokens. Cooperate with major exchanges and media to expand Blast’s market coverage and user base.
Governance transparency: Ensure the transparency and fairness of project governance and enhance the trust of investors and communities. Regularly publish project progress and financial reports to demonstrate project transparency and responsibility.
Summarize
The launch of the Blast airdrop has attracted widespread attention, and its token economics and market prospects are highly anticipated. Despite competition and market challenges, Blast is expected to succeed in the Layer 2 market through strategies such as technological innovation, ecosystem building, and community participation. As more users and developers join, Blast's future development potential is worth looking forward to. We will continue to pay attention to the dynamics of Blast and look forward to its creation of more value and opportunities in the blockchain industry.
(The above content is excerpted and reprinted with the authorization of our partner PANews, original text link | Author: TrendX)
Statement: The article only represents the author's personal views and opinions, and does not represent the objective views and positions of the blockchain. All contents and opinions are for reference only and do not constitute investment advice. Investors should make their own decisions and transactions, and the author and Blockchain Client will not be held responsible for any direct or indirect losses caused by investors' transactions.
〈The Blast airdrop is coming, who will spend the 17 billion tokens? 〉This article was first published in "Block Guest".
