The Ethereum layer-2 Blast network plans to reward its early adopters with an airdrop on June 26, as announced in a social media post on June 25. The airdrop will consist of 17% of the total token supply, with 7% going to users who bridged either Ether (ETH) or US Dollar Blast (USDB) to the network. Another 7% will be distributed to those who contributed to the success of DApps on Blast, and 3% will be given to the Blur Foundation for future airdrops to its community.
According to a report, wallet accounts ranked in the top 1,000 in terms of points will have their airdrop tokens vest linearly over a period of six months. This means that these accounts will not be able to sell all of their tokens for six months.
The Blur Foundation has stated that it will distribute its share of the token rewards to traders and holders who have used or will use its platform. One percent of the total token supply will go to traders and holders in Season 3, 0.5% will be reserved for Season 4, and another 0.5% will be reserved for future use. The utilization of the remaining 0.5% has not been disclosed.
The tokens will be claimable at 10 am ET (2 pm UTC) as mentioned in the social media post.
According to L2Beat, a blockchain analytics platform, the Blast network is currently the fourth largest Ethereum layer-2 network in terms of total value locked (TVL). Since its launch in November, the TVL of the network has grown to over $2.9 billion.
Out of the total token supply, 50% will eventually be distributed to the community, with 17% being allocated in Phase 1 starting on June 26. The remaining 33% will be distributed in future phases that will be announced later.
A significant portion (25.5%) of the total supply is being distributed to core contributors, 16.5% to investors, and 8% to the Blast Foundation for infrastructure development and ecosystem growth. Tokens given to core contributors, investors, and the foundation will be vested and unlocked over a four-year period.
Some Blast users have expressed dissatisfaction with the vesting requirement for the top 1,000 wallet holders. One user, Olimpio, who is among the top 500 wallet holders, stated that it is unfair to those who provide liquidity. However, Olimpio also expressed excitement to see how the airdrop unfolds.
On June 17, another layer-2 network, zkSync, also conducted an airdrop, with over 491,000 wallets claiming their tokens at that time.
In other news, the SEC has dropped its investigation into Ether but is still seeking billions in penalties from Ripple, according to reports.