TheBlast(BLAST)network,afast-growingEthereum-basedlayertwonetworkbackedbyParadigmCapitalandStandardCrypto,unveileditsmuch-anticipatedtokenairdroponJune26,2024.
CryptocurrencyexchangeBithumbhasannouncedthelistingoftheBLAST(BLAST)token,makingitavailablefortradingagainsttheSouthKoreanwon(KRW).Thelisting,whichwentliveonJune27,willallowuserstotradetheBLASTtokenintheKRW-BLASTpair.BLASTisthenativetokenoftheBlastnetwork,ahigh-speedEthereumlayertwochainbackedbyParadigmCapitalandStandardCrypto.Thenetwork,whichaimstoprovideafast,secure,andlow-costplatformfordecentralizedapplications(Dapps),recentlyannouncedanairdropofitstokenstoearlyusers.AccordingtotheBlastteam,atotalof17billionBLASTtokens,or17%ofthemaximumsupply,willbedistributedinthefirstphaseoftheairdrop.Ofthe17billiontokens,7billionwillbeallocatedtouserswhobridgedtheirEtherandUSDBcoinstobootstraptheinitialliquidityontheBlastecosystem.Another7billiontokenswillbedistributedtouserswhocontributedtothesuccessofDappsonthenetworkandearnedpoints.Additionally,theBlurFoundationwillreceive3billionBLASTtokens,or3%ofthetotalsupply.TheBlastnetworkhasstatedthatthetop1000wallets,whichcompriseapproximately0.1%oftheusers,willhaveaportionoftheirairdropvestlinearlyoverthenextsixmonths.TheBlastnetworkisdesignedtooperateathighspeedswhilemaintaininglowtransactioncosts,makingitsuitableforawiderangeofDapps.WiththeintegrationofDeFi,GameFi,andSocialFiapplications,theBlastnetworkaimstocatertoadiverseuserbase.TheEthereumnetworkhasfosteredarobustWeb3ecosystem,withover$60billionintotalvaluelocked(TVL)andaround$80billioninstablecoinsmarketcapitalization.However,toensureasustainablefuture,theEthereumnetworkrecentlyunderwenttheDencunupgrade,whichfacilitatestheseamlessadoptionoflayertwosolutions.BlastnetworkisfurtherdeterminedtorevolutionizetheEthereumecosystemandtheWeb3spacethroughitsinnovativeproducts.Accordingtotheproject’sQ22024report,theBlastnetworkhasfacilitated$3billioninbridgedTVL,whileDappsonthenetworkhavemorethan$2billioninTVL.Withover200Dapps,theBlastnetworkhasmanagedtoonboardmorethan1.5millionusers.Significantly,theBlastnetworkachievedthe$1billionTVLstatusfasterthanmosttoplayeroneandlayertwochainsinthemarket.AmongthetopBlast-basedDappsareFantasySocialFi,IKBGamiFi,andKettleRWA,tonameafew.TheBLASTtokenhasbeenmetwithawarmreceptioninthecryptospace,withseveralexchangesexpressinginterestinlistingthetoken.AsreportedbyCointelegraph,BinancewasalsosettoopentradingfortheBLASTtoken,butthelistingwaslatercanceledduetounspecifiedtechnicaldifficulties.ThelaunchoftheBLASTtokencomesatatimeofmacrobullinstitutionalcryptorally,whichhasseenastrongpreferenceforlayertwosolutions.WiththeupcomingapprovalofspotEtherETFsintheU.S.,afreshaltcoinrallyisexpectedtobetriggeredasmorecashflowissettoenterthealtcoinindustry.However,theBLASTtokenmayalsoexperiencebearishsentimentsifitislistedtooearlyandusersdecidetoselltheirairdroptokensenmasse.
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