The Blast Network, an up-and-coming Ethereum layer-2 solution, announced an airdrop for its early users on June 26th. This event will distribute 17% of the total Blast token supply to these early adopters.
Blast Network, a growing Ethereum layer-2 network, rewarded early users with a 17% token airdrop on June 26th. Users who bridged assets or participated in Blast DApps received the most tokens. The top wallets will have their tokens released gradually over 6 months. Half of all Blast tokens are set aside for community distribution, with more airdrops planned. Some users are worried about the gradual release schedule for the top wallets.
Early Users Get Rewarded
The airdrop rewards those who helped Blast’s early success. According to the Blast team, 7% of the tokens are given to users who moved assets like Ether or US Dollar Blast to the network. Another 7% goes to those who used decentralized applications (DApps) on Blast. The remaining 3% is set aside for the Blur Foundation for future community airdrops.
Airdrop Distribution
The biggest winners of the airdrop, the top 1,000 wallets, won’t get all their tokens at once. Instead, they’ll receive them gradually over six months, like a slow drip.
This is to make sure everyone gets a fair chance to use Blast tokens without a giant surge affecting the price.
Blast Token Distribution
The Blur Foundation, responsible for distributing its share of the airdrop, announced a breakdown of their allocated tokens.1% for traders and holders during Season 3, another 0.5% for Season 4, and another 0.5% reserved for future use. The details regarding the remaining 0.5% are yet to be revealed.
The announcement on social media says users can start claiming their airdrop tokens at 10 am ET (2 pm UTC) on June 26th.
Blast Network’s Growth Trajectory
The Blast Network has grown rapidly, becoming the fourth largest Ethereum layer-2 network by total value locked (TVL). Since its launch in November, the network’s TVL has surged to over $2.9 billion.
Looking Ahead: Token Distribution Strategy
It’s worth noting that half of all Blast tokens are set aside for distribution to the community. The first phase of this plan involves a 17% airdrop, with the remaining 33% to be distributed in future phases that haven’t been announced yet.
Allocation for Other Parties
The rest of the token supply is divided as follows: 25.5% goes to core contributors, 16.5% to investors, and 8% to the Blast Foundation for developing infrastructure and growing the ecosystem. Tokens allocated to these groups will be vested gradually over four years.
User Concerns Regarding Vesting
Some users of Blast, especially those in higher tiers, have voiced concerns about the vesting rules. An airdrop hunter named Olimpio questioned the fairness of how top wallets are treated, pointing out their contribution to providing liquidity to the network.
The Blast Network’s airdrop is a major milestone for the project, rewarding early adopters who played a key role in its growth. With a clear token distribution plan and a thriving ecosystem, Blast Network is set up for ongoing success.
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