Blast L2 Project Concludes Airdrop of Its Token

On June 26, the developers behind the Blast Layer 2 network concluded the first phase of the BLAST token airdrop. The second season of the campaign has now commenced.

$BLAST is now LIVE

You have 30 days to claim your Phase 1 airdrop?

Phase 2 now begins: Enter the Fullstack Chain.

Our mission is to UNBANK THE BANKED.

Join us and earn Native Yield + BLAST in Phase 2! pic.twitter.com/tU1Tsqpkbp

— Blast (@Blast_L2) June 26, 2024

The claim process for the coins opened at 17:00 (Kyiv/Moscow). An hour later, trading began on exchanges such as Bybit, Gate.io, Uniswap v3 (Blast network), KuCoin, and Bitfinex.

At the time of writing, BLAST is trading around $0.021. The coin’s market capitalization is approximately $377 million, ranking it 176th on CoinGecko, with a fully diluted valuation (FDV) of about $2.2 billion.

In total, 17 billion tokens (17% of the total supply) were distributed during the campaign. Of this, 7 billion tokens were allocated to holders of Blast Points, earned by providing initial liquidity in the form of ETH or the stablecoin USDB.

Another 7 billion BLAST were distributed among users rewarded with Blast Gold for interacting with decentralized applications on the network.

3 billion coins are designated for the Blur Foundation for future distributions among the NFT marketplace Blur community, including through airdrops.

How to Claim the Airdrop?

To claim tokens, ecosystem participants should visit the distribution page and watch a video lasting about 2 minutes detailing some project features.

Subsequently, a table will appear showing the amount of coins to be received and an invitation to tweet before claiming.

After this, users need to scan a QR code and install the Blast app.

Before sending tokens to the wallet, four words must be entered into empty fields from the phone.

Users have 30 days to claim the coins from the first phase of the airdrop.

Ecosystem Growth

The project team boasted that in just four months, the Blast community has reached 1 million users. According to the developers, this represents “the fastest growth in cryptocurrency history.”

In only 4 months, the Blast community has grown to over 1 million strong, and Blast is already the 6th largest onchain economy across ALL chains by Dapp TVL, Dex Volume, and Fees Paid. pic.twitter.com/F2J7NuArse

— Blast (@Blast_L2) June 26, 2024

By total value locked (TVL), the Blast ecosystem ranks sixth on the DeFi Llama leaderboard, with a figure of $1.58 billion.

The Blast project was launched in November 2023 by Blur’s founder under the pseudonym Pacman. Initially, the protocol lacked even a testnet and offered users the opportunity to deposit coins for passive income of 4-5% via a bridge.

As reported in February 2024, the developers launched the Blast mainnet.