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BLAST Token Airdrop Distributes $415M to Users as Soon as It Goes Live
Key points
- On launch day, the Blast token airdrop distributed $415 million to users.
- The price of the BLAST token dropped by 7.7% immediately after its release, but remains relatively stable.
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The Blast layer 2 blockchain airdrop it went live today and users have 30 days to claim their tokens. The BLAST token has a total supply of 100 billion tokens and 17% has been allocated to users in this initial airdrop. Considering the launch price of $0.0244, over $415 million was distributed to users.
Less than four hours after the launch, the price of BLAST has dropped by 7.7%, currently sitting at $0.02254. While the token’s price appears to be holding up relatively well compared to recent airdrops, the total value locked (TVL) on the Blast ecosystem has dropped by 23.7% over the past seven days.
The token distribution involved Blast Points holders and Blast Gold holders each receiving 7% of the distributed supply, while Blur Foundation users received the remaining 3%. Notably, more rounds of airdrops are expected, as BLAST tokenomics shows that 50% of the token supply will be distributed to the community.
This is the second Ethereum layer-2 blockchain airdrop to happen in June. The zkSync airdrop happened earlier this month and the token distribution took place under heavy fire by the community, as users claimed to be excluded from the rewards system in favor of Sybil addresses.
Sybils are wallets created by the same user to become eligible with different addresses, receiving a large amount of tokens.
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