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After months of anticipation, one of the summer’s biggest crypto giveaways—the Blast airdrop—is landing tomorrow, June 26, at 10am ET sharp.
Crypto holders who use Blast—the Ethereum layer-2 scaling network from the creators of disruptive, incentivized NFT marketplace Blur—stand to earn big chunks of the 17 billion BLAST tokens that will comprise the network’s initial airdrop. These users’ airdrop allocations have been determined by the number of Blast Points they’ve earned.
But a full 50% of Blast’s initial airdrop has been specially earmarked for users of decentralized apps (dapps) in the Blast ecosystem. These tokens will be distributed via the numerous dapps that have received Blast Gold, and passed that Gold on to dapp users.
Here’s a handy breakdown of who is eligible for tomorrow’s airdrop.
Who gets BLAST?
BLAST will have a total token supply of 100 billion. Out of that, 25.5% of the supply will go to core contributors to the network, 16.5% will go to the network’s investors, 8% will go to the Blast Foundation supporting the network, and 50% has been set aside for community initiatives—including this initial airdrop.
The Blast “Phase One” airdrop will consist of 17 billion BLAST tokens, or 17% of the total BLAST token supply. Of that, 7 billion tokens will go to Blast Points holders, 7 billion will go to Blast Gold holders, and 3 billion tokens will go to the Blur Foundation, which supports Blast’s NFT marketplace predecessor and will reportedly use the funds for retroactive and future airdrops.
Who is eligible via Blast Points?
If you’ve held any amount of ETH, WETH, or Blast’s native stablecoin USDB on the Blast network since the mainnet launched in February, then you’ve already accumulated some amount of Blast Points. Users can check their Blast Points balance on their dashboard.
ETH and WETH balances on Blast earn a consistently proportional amount of Blast Points for every Blast transaction block. USDB balances earn a variable amount of points that fluctuates with the price of ETH. The USDB-to-ETH conversion rate for points updates whenever you send or receive more USDB.
IT’S TIME FOR $BLAST
The Blast Foundation will airdrop BLAST to the community tomorrow, June 26 at 10AM EST, 10PM HKT, 4PM CET.
Q2 highlights and tokenomics below 👇 pic.twitter.com/iH1SxCQ6uN
— Blast (@Blast_L2) June 25, 2024
One of Blast’s primary features is native yield for users who keep their funds on the network. As users’ funds accumulate interest (roughly 4% for ETH and WETH, and 5% for USDB), that interest will also produce proportional Blast Points gains.
Blast users can also increase their Blast Points by inviting friends to hold funds on the network. Users will earn the equivalent of 16% of any points earned by friends you invite onto Blast. When friends of those friends join and begin bridging money to the network, you will earn the equivalent of 8% of the points those users accumulate.
Finally, users can also earn Blast Points via dapps on Blast. When you transfer ETH, WETH, or USDB to a Blast dapp, that dapp starts earning Points based on your contribution to its total value locked (TVL). Those dapps should subsequently pass those Points earnings back on to you. You can check in your Blast dashboard if this is the case.
Blast users who have transacted with certain promoted dapps in recent months should have also won Points Multipliers, which increase both your points balance and the rate at which you earn additional points.
All in all, the more Blast Points users have accumulated, the larger share of the 7 billion BLAST tokens earmarked for points holders they can expect to receive tomorrow.
Who is eligible via Blast Gold?
Over the last few months, Blast’s team has selectively doled out Blast Gold to certain apps in the Blast ecosystem that have gained traction. These allocations have been manual and subjective, determined by factors including a dapp’s perceived long-term alignment with Blast, its design quality, and how well it has integrated Blast’s points scheme into its structure.
Successful 100% GOLD Distribution 🟡
We are excited to announce the successful distribution of 100% of the Fantasy GOLD allocation!
We are amazed by the success of the Fantasy Genesis season and eagerly anticipate the post @Blast_L2 TGE era.
We encourage all users to connect… pic.twitter.com/ds03WB3TpT
— fantasy.top (@fantasy_top_) June 25, 2024
Blast has encouraged these dapps to pass on 100% of accumulated Gold back to their users. Many have. Tomorrow, Blast Gold holders stand to receive some 7 billion BLAST tokens—just as many as have been set aside for users possessing Blast Points.
On five occasions since March, Blast has distributed millions of Gold tokens to dapps in its ecosystem based on varying criteria. Many of these now Gold-rich dapps, including the meme coin community Pacmoon and the SocialFi gaming experiment Fantasy Top, have spread this wealth to their users.
Blast users who have accumulated Blast Gold will receive airdrops tomorrow commensurate with the amount of Gold they possessed as of this morning at 8 am EST. There is far less Blast Gold in circulation currently than Blast Points, so Blast Gold whales can expect to receive a fair portion of tomorrow’s BLAST airdrop.
Edited by Andrew Hayward
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Source: https://decrypt.co/237026/blasts-token-airdrop-everything-you-need-know
