Blast Airdrop Arrives: 17 Billion Tokens Distribution Sparks Market Follow

The long-awaited Blast Airdrop has finally arrived as scheduled on June 26. Previously, a certain trading platform had announced the launch of Blast Token trading in advance, injecting a boost into its secondary market price.

With the arrival of June 26 at 10 PM, accompanied by the launch event speech, the Blast Airdrop officially begins. Although the specific correlation between points and Token airdrops is still unclear, looking at a user with approximately 2.3 million points ranked 55,000+ across the network, who received 50,000 BLAST Tokens, it is expected that users with the highest ranking of approximately 23 billion points could receive 5 million Tokens. Based on the initial issuance price of $0.03, this is valued at about $1.5 million.

At the same time, Blast has clarified its market maker strategy by allocating 220 million BLAST to six market makers for exchange market making. These market makers are transferring BLAST to centralized exchanges in preparation for the 23-point BLAST listing.

The airdrop distribution process has been a mix of joy and sorrow. Some users have lost large sums of money on counterfeit websites, prompting the official announcement to remind users to be vigilant against related scams. There are also users complaining that the airdrop returns are not as expected, even questioning the sincerity of the project. A partner at a digital asset institution stated that they deposited over $50 million on Blast but only received $100,000 in airdrops, and believe this could be a scam.

Despite the controversy, Blast's market performance remains strong after the token generation event (TGE). Within just one hour after the airdrop began, the fully diluted valuation of BLAST (FDV) surpassed $2.6 billion, with a daily increase of over 20%, peaking at $2.9 billion, in line with early market predictions.

In addition, a well-known trading platform has also announced the launch of Blast, which is another recognition of Blast by an international exchange following the previous announcement. As of 11 AM the next morning, approximately 12 hours after the Airdrop opened, over 2.5 million users have completed their claims, with a total of 12.4 billion Tokens claimed, accounting for 88.63% of the total 17 billion.

Blast Introduction and Token Economics

Blast is a Layer 2 blockchain where users can earn rewards by bridging assets. It offers various incentives to attract users and developers to participate. The Blast ecosystem has multiple mining opportunities, such as projects like Ambient, Juice, Synfutures, and more.

Blast, developed by Pacman and supported by Paradigm, aims to create native yield for Layer 2. It suggests converting ETH and stablecoins into stETH and DAI respectively to earn yields from staking rewards and the treasury.

The token economics of Blast is mainly divided into four categories:

1. Community: 50%, will be distributed through incentive activities, linear unlocking over 3 years starting from TGE.

2. Core Contributors: 25.5%, 4-year lock-up period, 25% unlocked one year after TGE, then linear unlock each month over the following 3 years.

3. Investors: 16.5%, 4-year lock-up period, 25% unlocked one year after TGE, followed by monthly linear unlock over 3 years.

4. Blast Foundation: 8%, for critical infrastructure and ecosystem development, linear unlocking over 4 years starting from TGE.

Blast Airdrop Rules

The first round of airdrop will allocate 17% of the total BLAST supply, 117 billion coins, to users, including:

• Blast Points: 7%(70 billion coins)
• Blast Gold Points: 7%(70 billion coins)
• Blur Foundation: 3%(30 billion coins)

Users in the top 0.1% ( will have approximately 1000 wallets ) that will linearly vest part of the Airdrop within 6 months. Vesting requires reaching a monthly points threshold.

Currently, Blast's TVL has reached $2.56 billion, with a total user count of nearly 1.6 million. Based on a pre-market estimate of $0.03, each user can receive an average airdrop of about $300, but considering the point weighting, lower-point users may receive less value.

Price Prediction and Market Analysis

The pre-market price is approximately $0.03. Based on a total supply of 10 billion and an initial distribution of 1.7 billion, the corresponding FDV is $3 billion, and the circulating market cap is $510 million.

Compared to other Layer 2 projects, Blast's TVL is lower than some projects but higher than others. Given the market's decreasing recognition of Layer 2 tokens, the current price and circulating market cap are considered to be within a reasonable valuation range.

Market Prospects and Potential Analysis of BLAST

In the long term, the prospects of BLAST are influenced by various factors:

Advantages:

• Layer2 solutions are becoming increasingly important in the blockchain industry.
• The design of token economics emphasizes the community and core contributors.

Challenge:

• Competition among Layer2 projects is fierce.
• The market's recognition of Layer2 Tokens may affect performance.

Future Development Strategy:

1. Continuous technological innovation
2. Expand ecosystem application scenarios
3. Strengthen community participation
4. Increase market promotion efforts
5. Ensure project governance is transparent.

Summary

The Blast Airdrop has garnered widespread attention, with its Token economics and market prospects highly anticipated. Despite facing challenges, Blast is expected to succeed in the Layer2 market through various strategies. As more participants join, the future development potential of Blast is worth looking forward to. We will continue to follow its dynamics and hope it creates more value and opportunities in the blockchain industry.