Blast Announces Airdrop, Will Distribute $BLAST to Early Adopters

Ethereum Layer-2 network Blast has announced that its long-awaited $BLAST token airdrop will take place on June 26.

Created by the team behind popular NFT marketplace Blur, Blast will be rewarding both early adopters and developers via this highly-anticipated airdrop.

Originally planned to take place in May 2024, the airdrop was postponed to ensure fairness, stability and equitable token distribution. To compensate for this delay, Blast hasdecided to increase the allocation of the $BLAST tokens.

What is Blast Network?

Blast Network is an Ethereum Layer-2 protocol that offers native yield for $ETH and stablecoins on its network.

The yield is generated through staking $ETH and a variety of Real-World Asset (RWA) protocols, with automatic rebasing for $ETH and $USDB – the network’s native stablecoin.

Blast was one of the first networks to offer native yield, and so whilst tokens held on other L2 networks do not generate interest, Blast stands out by offering 4% annual yield on $ETH and 5% on stablecoins. Additionally, while most L2 networks retain gas fees for themselves, Blast returns net gas revenue to its dApps.

Blast launched its mainnet in March, unlocking over $2.3 billion in staked crypto assets, and allowing Early Access users to access a variety of exclusive dApps on the network.

How do I qualify for the airdrop?

Blast plans to allocate 50% of the total $BLAST airdrop early adopters, based on their wallet holdings and dApp balances. The remaining 50% will be distributed to Blast developers to support the growth and development of dApps on the network.

According to a post on X from Blast, participants must have signed into their Blast dashboard using an eligible Externally-Owned Account (EOA) at least once to qualify for the airdrop, either by receiving an invite or through linking their EOA to an existing account.

DApps on the Blast Network are required to distribute all Blast Gold and Points to their users by June 25 for them to count for the airdrop calculations. Eligible early adopters include anyone who has bridged funds to the Blast Network before the mainnet launch in February.