Blast users can still earn points as part of its Phase 2 rewards campaign for the next four months.<\/p>\n
The long-awaited airdrop from Blast, the popular but controversial Layer 2 network, is finally live.<\/p>\n
The first phase of Blast\u2019s airdrop became claimable on June 26, with claims set to remain open for 30 days.<\/p>\n
The airdrop distributed 17% of BLAST’s total supply to early adopters. Both Blast Gold (developers) and Blast Points (users) holders were allocated 7% of tokens each, with the remaining 3% allocated as rewards for stakers on Blu<\/a>r \u2014 the market-leading NFT marketplace also developed by the Blast team.<\/p>\n According to CoinGecko, BLAST debuted at a market cap of roughly $420 million, equating to a fully-diluted valuation of roughly $2.48 billion. The token has posted a modest pull-back of 3.6% in 20 minutes since launching.<\/p>\n Blast published its tokenomics<\/a> as part of the project\u2019s Q2 2024 recap<\/a> on June 25, revealing that half of BLAST\u2019s 100 billion total supply is earmarked for Blast\u2019s community.<\/p>\n Blast also announced that the second phase of its airdrop and launch campaigns are now live, with users able to earn \u201cPhase 2 rewards\u201d for the next four months.<\/p>\n \u201cOur mission is to unbank the banked,\u201d Blast tweeted<\/a>. \u201cOur goal is to accelerate the market\u2019s transition from an offchain economy to an on-chain economy, which we believe is the most efficient market structure for global finance.\u201d<\/p>\n Blast added that it plans to establish itself as a \u201cfull-stack chain\u201d during Phase 2.<\/p>\n \u201cUnlike Android, Apple takes a full-stack approach,\u201d Blast said<\/a>. \u201cThey build everything from the software to the hardware and optimize across the full stack. This approach drastically accelerated the transition to mobile\u2026 The focus of the next phase of Blast, Phase 2, is to create the full stack chain.\u201d<\/p>\n Blast added that it will work with ecosystem projects to develop desktop and mobile wallet applications, seeking to offer a superior to Metamask \u2014 a market-leading web3 wallet provider.<\/p>\n Blast enjoyed an explosive but controversial launch in November. The network quickly amassed $500 million in deposits over five days, attracting users with promises of a future airdrop and native yield for ETH and stablecoin deposits.<\/p>\n Blast claims to have been the fastest-growing chain among Layer 1s and Layer 2s. tagging a $1 billion total value locked (TVL) in just 13 days, and Blast-native decentralized applications (dApps) boasting a $2 billion TVL after 100 days.<\/p>\nPhase 2<\/h2>\n
Blast\u2019s controversial beginnings<\/h2>\n