Blast Foundation to disperse 17 billion BLAST tokens in this week's airdrop
Quick Take
- The Blast Foundation will disperse 17 billion BLAST tokens in the phase 1 airdrop on Wednesday, June 26.
- Of the 17 billion, 7% will go to Blast Points holders, another 7% to those with Blast Gold, with 3% allotted to the Blur Foundation.
The Layer 2 network Blast has announced details for its highly anticipated airdrop.
Blast Foundation, the protocol's governance organization, will give out 17 billion BLAST tokens on Wednesday, June 26, at 10 a.m. ET, 10 p.m. HKT and 4 p.m. CET as a part of phase 1 airdrop, according to a social media post.
Of that 17 billion, 7% will go to users who helped bootstrap the protocol's liquidity by bridging ETH or Blast's stablecoin USDB. Users earning Blast Gold from participating in decentralized applications will get another 7% of the initial airdrop, with the final 3% going to the Blur Foundation "to distribute to the Blur community for both retroactive and future airdrops," according to Blast's tokenomics report.
Blast laid out additional tokenomics details beyond the June 26 airdrop. The protocol allocated 50% of the 100 billion total token supply for the community, with additional community airdrops slated within the next three years. Core contributors will receive 25.5% of the token supply, with investors and the Blast Foundation getting 16.5% and 8%, respectively, in that period as well, the tokenomics report continues.
Blast was created by Tieshun Roquerre, who also founded the NFT marketplace Blur. Blast seeks to create a native yield model for Ethereum and stablecoins. The platform's mainnet launched on Feb. 29.
Blast maintains over $1.67 billion in total value locked, according to the crypto data tracker DeFiLlama.
Disclaimer: Larry Cermak, CEO of The Block, is an angel investor in Blast.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
