Blast Network Announces Community Claim within the Blast Token Airdrop

UTC by Steve Muchoki · 2 min read
Blast Network Announces Community Claim within the Blast Token Airdrop
Photo: Freepik

In an official announcement, Blast Network, Ethereum (ETH)-based layer two (L2) network, has invited phase 1 participants claim their airdrop.

The Blast network, an Ethereum (ETH)-based layer two (L2) network that incorporates native yields, has announced that its community can claim the $BLAST token airdrop in the next 30 days. The Phase 1 of the BLAST airdrop will be facilitated by the Blast App developed by Arcade Research.

As a first step, Arcade Research has released the Blast App, which community members can use to claim their Phase 1 airdrop.

After claiming, community members can claim ongoing Phase 2 rewards through the app, and in 4 months, full wallet functionality will go live.

— Blast (@Blast_L2) June 26, 2024

The Blast network will distribute 17 billion BLAST tokens in the first phase of the airdrop. Out of this 17 billion, approximately 7 percent will be allocated to the users who helped bootstrap the network’s liquidity through bridging Ether and its native stablecoin USDB.

The Blast network has allocated 50 percent of the total 100 billion supply to the community, with more airdrops set to take place in the  next three years. The core contributors of the Blast network received a whopping 25.5 percent of the total supply. Meanwhile, the Blast Foundation and early investors received a total of 8 percent and 16.5 percent of the total tokens supply.

The Blast network has grown to a vibrant layer-two ecosystems on the Ethereum blockchain with more than $2 billion in total value locked. According to the Blast network, it has accumulated more than 1.5 million users and registered over 200 decentralized applications (dApps).

Remarkably, Blast network’s USDB stablecoins are the 5th most used and 4th most held stablecoin globally. Despite being an EVM-compatible chain, the Blast network is highly reliant on its native Dapps led by Thruster DEX, Juice Finance, Hyperlock Finance, and Ring Protocol, among others.

Other Major Airdrops

As Coinspeaker previously reported, Notcoin (NOT), a Telegram-based tap-to-earn meme project, distributed 11.5 million tokens to its users. Remarkably, the Notcoin project allocated over 90 percent of the NOT total supply to the community through in-game mining, launch pools, and trading activities. The project has grown to a midcap altcoin with around $1.6 billion and over $600 million in daily average traded volume.

The LayerZero project recently announced its airdrop that allocated 38.3 percent of the 1 billion total supply to the community members. The LayerZero team allocated 32.2 percent of the total ZRO tokens to strategic partners within three years of unlocking. The remaining 25.5 percent was allocated to core contributors with three years of vesting.

Altcoin News, Cryptocurrency News, News
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