Blast Airdrop is live, Token distribution is receiving a lot of follow

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

With the arrival of 10 PM on June 26, the Blast Airdrop officially begins. The specific correlation between points and Token airdrop is still unclear, but looking at a user who has approximately 2.3 million points (ranked over 55,000 in the entire network) receiving 50,000 BLAST Tokens, it seems that the highest-ranked user in the entire network may receive around 50 million Tokens. Based on the initial issuance price of $0.03, this is valued at approximately $1.5 million.

Blast simultaneously announced its market maker strategy, allocating 220 million BLAST tokens to 6 market makers for exchange market making. These market makers are gradually transferring BLAST to the trading platform in preparation for the launch of BLAST trading at 23:00.

After the Airdrop was launched, the market reacted strongly. In just one hour, the BLAST FDV surpassed $2.6 billion, with a daily increase of over 20%, reaching a peak of $2.9 billion. An international large exchange also announced that it would list Blast. By 11 AM the next day, over 2.5 million users had completed the claim, with a total of 12.4 billion Tokens claimed, accounting for 88.63% of the total 17 billion.

However, some issues also arose during the Airdrop process. Some users signed multiple phishing signatures on fake websites, resulting in losses exceeding $200,000. Other users complained that the Airdrop returns were not as expected and even questioned the credibility of the project.

Blast is a Layer 2 blockchain where users can earn yields by bridging assets. The project is developed by Pacman and supported by Paradigm, aiming to create native yields for Layer 2. Blast suggests converting ETH and stored stablecoins into stETH and DAI respectively to obtain yields from staking rewards and the treasury.

The tokenomics of Blast is mainly divided into four categories: 50% for the community, 25.5% for core contributors, 16.5% for investors, and 8% for the Blast Foundation. The first round of airdrop will allocate 17% of the total BLAST supply to users, including 7% Blast Points, 7% Blast Gold Points, and 3% for the Blur Foundation.

Currently, Blast's TVL has reached $2.56 billion, with nearly 1.6 million total users. Based on a pre-market price of $0.03, under the condition of distributing 17 billion Tokens evenly, each user could receive a maximum of about $300 in Airdrop, but considering the weighting of points, the value received by low-point users may be lower.

Professionals and institutions have predicted the price of Blast. The pre-market price is approximately $0.03, corresponding to an FDV of $3 billion and a circulating market cap of $510 million. Compared to other Layer 2 projects, this valuation is considered to be within a reasonable range.

In the long term, Blast's market prospects are influenced by multiple factors. The importance of Layer 2 solutions in the blockchain industry is increasing, and Blast may benefit from the growth of the entire industry. However, competition among Layer 2 projects is fierce, and Blast needs to continue to make efforts in terms of technological innovation, user experience, and ecosystem development.

To succeed in the highly competitive Layer 2 market, Blast needs to continue technological innovation, expand its ecosystem, strengthen community engagement, increase marketing efforts, and ensure transparency and fairness in project governance.

As more users and developers join, the future development potential of Blast is worth looking forward to. We will continue to follow its dynamics and anticipate that Blast will create more value and opportunities in the blockchain industry.