Blast, an Ethereum layer-2 network, is set to launch an airdrop for its early adopters on June 26, as per a social media post from the team on June 25. The airdrop will see the release of 17% of the total supply, with 7% going to users who bridged either Ether (ETH) or US Dollar Blast (USDB) to the network. Additionally, 7% will be distributed to those who contributed to the success of DApps on Blast, and 3% will be allocated to the Blur Foundation for future airdrops to its community.
According to a report, wallets ranked in the top 1,000 in terms of points will have part of their airdrop vested linearly for six months, meaning they will not be able to sell all of their tokens for another six months.
The Blur Foundation stated that it plans to distribute its share of the token rewards to traders and holders who have used or will use its platform. One percent of the total supply will go to traders and holders in Season 3, 0.5% will be reserved for traders and holders in Season 4, and another 0.5% will be reserved for future use. The remaining 0.5% usage was not specified.
The tokens will be claimable at 10 am ET (2 pm UTC), according to the social media post.
The Blast network is currently the fourth largest Ethereum layer-2 network in terms of total value locked (TVL), according to blockchain analytics platform L2Beat. Since its launch in November, its TVL has grown to over $2.9 billion.
The report also states that 50% of the Blast token supply will eventually be distributed to the community, with 17% being given out in “Phase 1,” starting on June 26. The remaining 33% will be distributed in other phases to be announced later.
More than a quarter, 25.5%, of the total supply is being distributed to core contributors, 16.5% to investors, and 8% to the Blast Foundation to build infrastructure and grow the Blast ecosystem. These tokens are vested and unlocked over a four-year period.
Some Blast users have expressed concern about the vesting requirement for the top 1,000 wallet holders. Airdrop hunter and user Olimpio stated, “Trying to be as unbiased as possible since I am top 500, but this is a spit on the face of people that brings liquidity […] Top 0.1% wallets are subject to this, but how much TVL do they represent from the chain?” However, Olimpio also expressed excitement to see how it goes.
On June 17, layer-2 network zkSync also initiated an airdrop, with over 491,000 wallets claiming their tokens at that time.