By
Steve Muchoki
June 26th, 2024
Blast is on track for its token airdrop slated for June 26 as it looks to reward early adopters including developers and users.
Ethereum (ETH price data) Layer 2 protocol Blast Network is ready for the new date for the launch of its token airdrop. According to the network created by the founder of Non-Fungible Token (NFT) marketplace Blur, the token airdrop will go live in a week’s time. The event was initially scheduled to hold in May but the project announced the delay last month. June 26 was chosen as the new official launch date for the upcoming airdrop.
The team acknowledged the effect that such postponement could have on its community and had to apologize. To compensate for the delay, Blast decided to increase the allocation of the BLAST tokens.
Requirement for Blast Token Airdrop
In its X post, Blast noted that users are required to perform some actions to be eligible for the airdrop. Users need to have signed into their Blast dashboard with the eligible Externally Owned Account (EOA) at least once for them to be eligible for the airdrop.
“If you are a User and your EOA has Points or Gold, you must have signed into your Blast dashboard with that EOA at least once (either by receiving an invite or linking it to an existing account) in order for it to be included in the airdrop calculations,” Blast wrote on X.
Notably, Decentralized Applications (DApps) are expected to distribute all Gold and Points to users by June 25, 8 am ET. This is to ensure that the Gold and Points are counted and considered in user’s EOA for the airdrop. Consequently, all Points and Gold left in smart contracts by the airdrop date will be excluded from calculations.
Blast plans to allocate 50% of the airdrop to developers through Blast Gold. The other half will go to early users through Blast Points but it would be based on their wallet and DApp balances.
Beneficiaries will include those who bridged funds to the network before the Blast mainnet went live in early February. It is worth noting that Blast Gold is to be used as an incentive for the growth of DApps. Therefore, Dapps would need to give 100% of any Gold they earn to their users.
Blast Unlocks $2.3B in Locked Funds
As of May when the airdrop was postponed, participants had successfully bridged over $2.3 billion to earn points ahead. This reflects the hype around the token.
Blast launched its mainnet in March and ended up unlocking about $2.3 billion in staked crypto that was locked up on the network. This move gave Early Access users the capacity to freely bridge to the mainnet and use DApps that are exclusive to the Blast network. Some of the exciting features outlined on its official website are auto-rebasing and staking.
Similar to Blast’s plan for next week, leading global cryptocurrency exchange Binance has announced the launch of an airdrop initiative dubbed “HODLer Airdrops”. The upcoming airdrop is not meant for everyone but to reward loyal BNB holders for their contributions and support for the platform. The date for the potential airdrop is yet to be released.