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Blast network, an Ethereum layer-2 solution, will commence its airdrop on June 26, distributing 17% of the token supply to early users.
Early Users Set to Benefit from Blast's Airdrop
The Ethereum layer-2 Blast network announced on June 25 that they would launch an airdrop for early users on June 26, per Cointelegraph.
Users who bridged Ether or US Dollar Blast (USDB) to the network will receive 7% of the entire supply, while 17% will be released in the airdrop. With 3% going to the Blur Foundation to fund future airdrops for its community and 7% going to those who "contributed to the success of DApps [decentralized applications]" on Blast, everyone's fair game.
Six-Month Vesting for Top 1,000 Wallets
Wallets that are rated in the top 1,000 in terms of points will "vest part of their airdrop linearly" for a period of six months, according to a report that accompanied the announcement. This implies that these accounts will not be able to sell all of their tokens for another six months.
Those who have used or will utilize the Blur Foundation's platform, including traders and holders, will get the token awards that the foundation has promised to deliver.
In Season 3, 1% will be distributed to holders and traders, in Season 4, 0.5 % will be set aside for the same, and another 0.5 % will be kept for future usage. Blur has not specified what would be done with the other 0.5%.
The social media post states that the tokens will be available for claim at 10 am ET, which is 2 pm UTC.
L2Beat, an analytics tool for blockchains, ranks the blast network as the fourth biggest Ethereum layer-2 network by total value locked (TVL). Its TVL has increased to over $2.9 billion since its November start.
Future Phases of Token Distribution
It has been reported that half of the Blast token supply will be released to the community in the future. Of that total, 17% will be issued in "Phase 1," which starts on June 26. Other phases, to be announced later, will allocate the remaining 33%.
Core contributors are receiving over a quarter of the supply (25.5%), investors 16.5%, and the Blast Foundation 8% to fund infrastructure projects and ecosystem growth. There is a four-year vesting period that allows core contributors, investors, and the foundation to release their tokens.
A few Blast users have voiced their displeasure with the need for the top 1,000 wallet holders to undergo vesting. Olimpio, an airdrop hunter and X user commented, "Trying to be as unbiased as possible since I am top 500, but this is a spit on the face of people that brings liquidity [...] Top 0.1% wallets are subject to this, but how much TVL do they represent from the chain?"
Notwithstanding, Olimpio asserted that they were "excited to see how it goes."
Over 491,000 wallets received their tokens when the airdrop for layer-2 network zkSync was released on June 17.
Photo: Blast/X
