- On Wednesday, June 26, the Blast Foundation will launch the phase 1 airdrop, distributing 17 billion BLAST tokens.
- Of the seventeen billion, thirteen percent will benefit the Blur Foundation, seven percent will go to Blast Gold and seven percent will go to Blast Point holders.
Blast, a Layer 2 network, has released information on its much awaited airdrop.
As part of the phase 1 airdrop, the protocol’s governance body, Blast Foundation, will distribute 17 billion BLAST tokens on Wednesday, June 26, at 10 a.m. ET, 10 p.m. HKT, and 4 p.m. CET, as per a social media post.
Users who linked ETHor Blast’s stablecoin USDB to help launch the protocol’s liquidity will receive 7% of those 17 billion. As per Blast’s tokenomics study, users will earn an extra 7% of the initial airdrop if they obtain Blast Gold through their participation in decentralized applications.
The Blur Foundation will get the remaining 3% and will use it to fund airdrops in the future as well as retroactively provide it to the Blur community.
Blast disclosed information regarding tokenomics after the June 26 airdrop. The protocol reserved half of the 100 billion token supply for the community, and additional airdrops are scheduled for the following three years.
According to the tokenomics document, during that period, core contributors will receive 25.5% of the token supply, while investors and the Blast Foundation will receive 16.5% and 8% of the token supply, respectively.
Tieshun Roquerre, the man behind Blur, the NFT marketplace, is the creator of Blast. Blast aims to develop a native yield model for stablecoins and Ethereum. The mainnet of the platform went live on February 29.
The crypto statistics tracker DeFiLlama states that Blast has approximately $1.67 billion in total value locked.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
