Seventeen percent of the total supply will be released in the airdrop, 7% of which will go to users who bridge either Ether (ETH/USD) or US Dollar Blast
Ethereum layer-2 network
Blast will begin distributing its native token,
BLST, to early adopters on June 26 via an airdrop, the
Blast team announced in a social media post on June 25. According to the post, 17% of the total
BLST supply will be airdropped. Of the total airdrop, 7% will be allocated to users who bridged either
Ether (ETH) or
US Dollar Blast (USDB) to the
Blast network. Another 7% will be distributed to those who “contributed to the success of decentralized applications (DApps)” on
Blast, while 3% will be given to the
Blur Foundation for future airdrops to its community. An accompanying
L2 Beat report stated that wallets ranked in the top 1,000 in terms of points will “vest part of their airdrop linearly” for six months, implying that these accounts will not be able to sell all of their tokens for another six months. The
Blur Foundation also claimed that it is going to distribute its share of the token rewards to traders and holders who have used or will use its platform. One percent of the total supply will be given to traders and holders in Season 3, 0.5% will be reserved for traders and holders in Season 4, and another 0.5% will be reserved for future use.
Blur did not state how the remaining 0.5% will be utilized. The tokens will be claimable at 10 am ET (2 pm UTC), according to the social media post. As previously reported by
Cointelegraph, the
Blast network quickly rose through the ranks of
Ethereum layer-2 networks following its launch in November 2023. According to blockchain analytics platform
L2 Beat,
Blast is now the fourth largest
Ethereum layer-2 network in terms of total value locked (TVL). Since launching in November, its TVL has grown to more than $2.9 billion. According to the report, 50% of the
Blast token supply will eventually be distributed to the community, with 17% being given out in “Phase 1,” beginning on June 26. The remaining 33% will be distributed in other phases to be announced later. More than one-quarter (25.5%) of the total supply is being distributed to core contributors, 16.5% to investors, and 8% to the
Blast Foundation to build infrastructure and grow the
Blast ecosystem. Tokens given to core contributors, investors, and the foundation are vested and unlocked over a four-year period. Some
Blast users have taken to
Twitter to air their grievances regarding the vesting requirement for the top 1,000 wallet holders. Among them is airdrop hunter and
X user
Olimpio, who stated: “Trying to be as unbiased as possible since I am top 500, but this is a spit in the face of people that bring liquidity[...] Top 0.1% wallets are subject to this, but how much TVL do they represent from the chain?” Despite their qualms,
Olimpio claimed that they were “excited to see how it goes.” On June 17, layer-2 network
zkSync also launched an airdrop, and over 491,000 wallets claimed their tokens at that time.
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