June 26th Blast Airdrop: A 17% Reward for Early Adopters

The Ethereum layer-2 network, Blast, is set to launch a significant airdrop on June 26, rewarding its early adopters, as announced in a recent social media post by the team dated June 25.

This initiative is part of a broader strategy to distribute seventeen percent of Blast’s total token supply to its active community members.

Allocation of Tokens

The allocation for this airdrop is meticulously planned: 7% of the tokens are reserved for users who have transferred either Ether or the network’s proprietary US Dollar Blast (USDB) to the Blast network.

Another 7% will be awarded to those who have contributed to the thriving ecosystem of decentralized applications (DApps) on the platform. The remaining 3% is earmarked for the Blur Foundation, which intends to use these funds for future community-focused airdrops.

In addition to the general allocation, there is a special vesting plan for the top 1,000 wallets based on a points system. These wallets will experience a linear vesting of their airdrop tokens over a six-month period.

This approach suggests a phased availability of the tokens, restricting the immediate sale and potentially providing a stabilizing effect on the market upon the tokens’ release.

The Blur Foundation has elaborated on its strategy for utilizing the allocated tokens. It plans to distribute them among traders and holders who are currently using or intend to use its platform.

Specifically, 1% of the total token supply will be distributed during Season 3, with 0.5% set aside for Season 4, and another 0.5% reserved for future use. Details on the utilization of the final 0.5% of the foundation’s share remain undisclosed.

Claiming the Airdrop

The tokens from this airdrop will be available for claiming starting at 10 am ET on the designated date, providing a structured approach to their distribution.

According to data from the blockchain analytics platform L2Beat, Blast ranks as the fourth largest Ethereum layer-2 network in terms of total value locked (TVL), which has impressively grown to more than $2.9 billion since its launch in November.

The broader token distribution strategy indicates that 50% of Blast’s total token supply is slated for community distribution, with the initial 17% being dispensed in what is termed “Phase 1.” Plans for the distribution of the remaining 33% are to be announced in subsequent phases.

The distribution also includes significant allocations to core contributors, investors, and for infrastructural and ecosystem development through the Blast Foundation.

Core contributors will receive 25.5% of the total supply, investors are allocated 16.5%, and the Blast Foundation receives 8%. These tokens are subject to a four-year vesting period, which underscores a long-term commitment from the stakeholders and aims to foster sustained involvement and growth.

Community Reactions

However, this vesting scheme has not been universally welcomed. Some Blast users, particularly among the top 1,000 wallet holders, have expressed dissatisfaction with the vesting requirement.

Olimpio, an airdrop hunter and user within the top 500, criticized the approach as being potentially unfair to those who bring significant liquidity to the network.

Despite his criticisms, Olimpio remains hopeful about the potential outcomes of the airdrop, reflecting a blend of skepticism and optimism within the community.

This planned airdrop follows another significant event in the layer-2 sector, where the zkSync network conducted its airdrop on June 17.

This event saw claims from over 491,000 wallets, highlighting the active engagement and robust interest in decentralized financial platforms and their efforts to incentivize and reward community participation.