- The foundation for the Ethereum Layer 2 network Blast is announced ahead of this week’s planned token airdrop.
- More information about the imminent transfer of Blast protocol governance to the foundation will be available this Wednesday, June 26.
The creator of the controversial NFT marketplace Blur, Blast, an Ethereum Layer 2 network, announced on Monday that it is building a foundation to assist in governing the protocol.
Two days ahead of this week’s token airdrop for the protocol, the announcement was made via Blast’s X account.
According to the message, Arcade Research, a Blast development business, was in charge of managing this account and website up until this point. This Twitter, the website, and the Blast protocol’s governance are being transferred to foundation control as part of the shift to a decentralized governance structure.
According to a post, Blast stated that the foundation is being established to assist the community in realizing the Blast Vision, which will be made public on June 26.
Tokens known as Blast will be categorized, however names are still up in the air. As per their separation into distinct wallet addresses, a breakdown of Blast tokens uploaded to X on Sunday suggests that there may be four or five distinct categories.
The post speculated that Blur farmers might receive tokens.
According to a letter, the Blast project has declared that it would split the airdrop in half, giving developers access to half through Blast Gold and early users access to the other half through Blast Points, which will be awarded based on their wallet and Dapp balances.
The project stated that Blast Points will receive 50% of the Blast Airdrop and that users’ wallets will automatically accrue points for each block according on their balances. Blast Gold is designed to encourage further dapp growth for dapps. According to the idea, Dapps should pay its users 100% of whatever Gold they make.
Blur’s originator, who created Blast
Tieshun Roquerre, the creator of the Blur NFT marketplace, created Blast. Early access to the Layer 2 protocol began in November 2023. DefiLlama data indicates that early this year, its total locked value was more than $2 billion.
Recent years have seen an increase in the popularity of blast-based games. Following a successful testnet phase, the cryptocurrency trading card game Fantasy debuted on Blast’s mainnet in April. According to daily fee generation, the protocol recently made it into the top 10 platforms.
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