• In the past four months alone, the Blast community has grown to more than 1 million users and over $2 billion in total value locked.
• The $BLAST token airdrop will be facilitated through the Arcade Research-developed Blast App in the next 30 days. 

The Blast (BLAST) network, a fast-growing Ethereum-based layer two network backed by Paradigm Capital and Standard Crypto, unveiled its much-anticipated token airdrop on June 26, 2024. With more than 1 million community members, the full-stack chain announced that the eligible users could claim the phase 1 BLAST token airdrop in the next 30 days.

As a result, the second phase of the BLASH token was kicked off, and the protocol announced perks for early adopters. 

Closer Look at Phase 1 of Blast Token Airdrop

The first phase of the BLAST token airdrop will distribute 17 billion units, representing 17 percent of the total supply. Out of the 17 billion tokens, 7 billion units were allocated to the users that bridged their Ether and USDB coins to bootstrap the initial liquidity on the Blast ecosystem. 

The Blast team allocated 7 billion tokens to the users, contributing to the success of the decentralized applications on the network and earned points. Meanwhile, the Blur Foundation will receive 3 billion BLAST tokens, representing 3 percent of the total supply.

The Blast network informed its community that the top 1000 wallets, representing about 0.1 percent of the users, will vest part of their airdrop linearly over the next six months. 

Growing Web3 Ecosystem

The Ethereum network has grown to a significant web3 ecosystem with over $60 billion in TVL and around $80 billion in stablecoins market cap. However, the Ethereum network recently underwent the Dencun upgrade to ensure a sustainable future through the seamless adoption of its layer two networks.

However, the Blast network is further determined to revolutionize the Ethereum ecosystem and the Web3 space through its innovative products. According to the project’s second-quarter 2024 report, Blast Network has so far facilitated $3 billion in bridged TVL, and its Dapps have more than $2 billion in TVL. 

With over 200 decentralized applications, the Blast network has amassed more than 1.5 million users. Remarkably, the Blast network achieved its $1 billion TVL status faster than most of the top layer one and two chains already in the market. 

Some of the top Blast-based Dapps include Fantasy SocialFi, IKB GamiFi, and Kettle RWA, among many others.  

BLAST Price Action

The BLAST token has received a huge welcome in the crypto space, with the Bithumb exchange announcing a listing for the KRW pair. The launch of the BLAST token comes amid the ongoing crypto correction in a macro bull run fueled by institutional investors.

The upcoming listing of spot Ether ETFs in the United States will trigger a fresh altcoin rally as more cash flow is expected to proliferate in the altcoin industry. However, the BLAST token could suffer bearish sentiments if it is too early to engage in a selling spree after the airdrop.