The Ethereum layer-2 Blast network is set to launch an airdrop for its early adopters on June 26, as announced in a June 25 social media post from the team. The airdrop will release 17% of the total supply, with 7% going to users who bridged either Ether (ETH) or US Dollar Blast (USDB) to the network, 7% to those who contributed to the success of DApps on Blast, and 3% 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 vest part of their airdrop linearly over six months, meaning they will not be able to sell all of their tokens for another six months.
The Blur Foundation 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 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% will be utilized in an undisclosed manner.
The tokens will be claimable at 10 am ET (2 pm UTC) as per the social media post.
According to L2Beat, the Blast network is the fourth largest Ethereum layer-2 network in terms of total value locked (TVL). Since its launch in November, its TVL has grown to more than $2.9 billion.
The Blast token supply will eventually be distributed to the community, with 17% being given out in “Phase 1” starting on June 26, and the remaining 33% to be distributed in other phases to be announced later.
Over one-quarter (25.5%) of the total supply will be distributed to core contributors, 16.5% to investors, and 8% to the Blast Foundation to build infrastructure and grow the Blast ecosystem. Tokens given to core contributors, investors, and the foundation are vested and unlocked over a four-year period.
Some Blast users have expressed concerns about the vesting requirement for the top 1,000 wallet holders. Airdrop hunter and X 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?” Despite this, Olimpio claimed to be excited 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.