On June 26, the new Layer2 chain Blast finally announced its token economic model after a month of delay. Following LayerZero and ZKsync, the "Top Three Airdrops" drama in the first half of 2024 has come to an end. As one of the most anticipated airdrop and coin issuance projects by users, after the launch of Blast's token economics and airdrop plan, many whale users were dissatisfied because of the problem that large users locked positions and the airdrop allocated to the NFT platform Blur was far lower than that of Blast users.
BlockBeats compiled and edited Blast official documents to explain Blast token economics and airdrop distribution methods.
About Blast
Blast is a Layer2 network based on Optimistic Rollup. It was launched by Pacman, the founder of NFT market Blur, and participated in by investment institutions such as Paradigm and Standard Crypto. The total financing is US$20 million and the mainnet was launched in March this year.
Blast has attracted many users and developers to participate by providing incentives such as points, coins, airdrops and earnings. According to official data, as of press time, the total locked value of the Blast network exceeds $3 billion, the total locked value of Dapp exceeds $2 billion, the number of user addresses exceeds 1.5 million, and more than 200 Dapps have been launched. Calculated by the total locked value of Dapp and the transaction volume of decentralized exchanges, Blast has become the sixth largest public chain; calculated by fee payment, Blast is among the top five public chains.
Blast Token Economics
The total supply is 100 billion, 50% will be airdropped to the community
Community – 50,000,000,000 (50%)
Blast owes its success 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 to the community. The community allocation unlocks linearly over 3 years from the date of the TGE, and any allocation will be based on a schedule determined by the Blast Foundation.
Core Contributors – 25,480,226,842 (25.5%)
All tokens allocated to Core Contributors have a 4-year lockup period, with 25% of Core Contributor tokens unlocking 1 year after the TGE date, followed by a linear monthly unlock over the next 3 years.
Investors – 16,519,773,158 (16.5%)
All tokens allocated to investors have a 4-year lockup period, with 25% of investor tokens unlocking 1 year after the TGE date, followed by a linear monthly unlock over the next 3 years.
Blast Foundation – 8,000,000,000 (8%)
The Foundation's allocation will be reserved for critical infrastructure and further development of the Blast ecosystem. The Foundation allocation unlocks linearly over 4 years from the date of the TGE.
Blast Phase 1 Airdrop: 17% of total supply
· 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 in Phase 1. These users will be rewarded with 7% of the total BLAST supply.
· Blast Gold – 7,000,000,000 (7%)
Users who contribute to the success of the Dapp will be awarded Blast Gold and will be rewarded with 7% of the total BLAST supply.
Large-scale airdrops will be attributed linearly
The top 0.1% of users (approximately 1,000 wallets) will vest a portion of the airdrop linearly over 6 months. Based on the first phase of activity, vesting is subject to reaching a monthly points threshold.
Blur Foundation – 3,000,000,000 (3%)
The Blur Foundation will receive 3% of the total BLAST supply to be distributed to the Blur community for retroactive and future airdrops. 1% will be distributed to Season 3 Blur traders and BLUR holders (0.5% each), 0.5% has been reserved for Season 4 Blur traders, 0.5% will be reserved for future use, and the remaining 1% has been reserved for Season 4 BLUR holders.
When will the airdrop be claimed?
According to the official announcement, the Blast Foundation will airdrop BLAST to the community at 22:00 on June 26.
The above situation
South Korean crypto trading platform Upbit will launch Blast (BLAST), supporting KRW, BTC and USDT trading pairs.
Bitget will launch Blast (BLAST) in the Innovation Zone and Layer 2 Zone. The deposit channel is now open, and the trading channel will be open at 23:00 (UTC+8) on June 26.
Bybit will launch Blast (BLAST) at 3:00 PM (UTC) on June 26. Deposits and withdrawals will be made through the Blast Network.
Who are market makers?
According to monitoring by ai_9684xtpa, Amber Group may be the only market maker for BLAST. It received 220 million tokens transferred by the project party 4 hours ago and then distributed them to 3 addresses. Its receiving address 0x584 has received 0.149 ETH as mining fee from Amber's cross-chain to the Blast network four hours ago. Amber Group is also the market maker for the popular tokens ENA, ETHFI, and AEVO in this round.
