The Blast Airdrop is finally here, how will 17 billion Tokens be distributed?

On the evening of June 26, the highly anticipated Blast Airdrop arrived as scheduled. Prior to this, a trading platform had announced the launch of Blast Token trading, injecting strong momentum into its secondary market price.

As the clock struck 10 PM that evening, accompanied by a speech, the Airdrop of Blast officially began. It is currently unclear what the specific relationship is between points and Token airdrops, but based on one user's situation of earning 50,000 BLAST Tokens with approximately 2.3 million points (ranked 55,000+ globally), it can be inferred that the user with the highest global ranking of about 23 billion points may receive around 50 million Tokens, which would be valued at approximately 1.5 million dollars based on the initial issuance price of 0.03 dollars.

At the same time, Blast's market-making strategy has also been clarified. The project has allocated 220 million BLAST to 6 market makers for exchange market making. Currently, these market makers are gradually transferring BLAST to centralized exchanges in preparation for the trading of 23 BLAST.

During the Airdrop distribution period, there are mixed feelings. Some users signed multiple phishing signatures on counterfeit websites, leading to asset losses, prompting the Blast official to issue a reminder to users to be vigilant against related scams. At the same time, some users expressed dissatisfaction with the Airdrop returns, believing they are not proportional to their investments on the platform.

Despite the controversy, Blast's market performance after the token generation event (TGE) remains strong. Within just one hour after the airdrop commenced, the fully diluted valuation of BLAST (FDV) surpassed 2.6 billion USD, with a daily increase of over 20%, peaking at 2.9 billion USD, aligning with early market expectations.

In addition, another internationally renowned exchange has also announced the launch of Blast, which is yet another large exchange recognizing Blast following the aforementioned trading platform. As of 11 a.m. the next day, approximately 12 hours after the Airdrop opened, more than 2.5 million users had completed their claims, with a total of 12.4 billion Tokens claimed, accounting for 88.63% of the total 17 billion.

Blast is a Layer 2 blockchain where users can earn yields by bridging assets. It offers incentives such as points, coins, Airdrops, and yields to attract users and developers to participate. The Blast ecosystem has multiple mining opportunities, such as Ambient, Juice, Synfutures, nftperp, and Munchables.

Blast is developed by Pacman and supported by Paradigm, aiming to create native yields for Layer2. It suggests converting ETH and stored stablecoins into stETH and DAI respectively, earning yields from staking rewards and the treasury.

The token economics of Blast is mainly divided into four categories:

1. Community: 50%, 50 billion tokens, linear unlocking over 3 years from TGE.
2. Core Contributors: 25.5%, approximately 25.48 billion tokens, 4-year lock-up period.
3. Investors: 16.5%, approximately 16.52 billion Tokens, 4-year lock-up period.
4. Blast Foundation: 8%, 8 billion tokens, linear unlocking over 4 years from TGE.

The first round of airdrops will allocate 17% (17 billion) of the total BLAST to users, including 7% Blast Points, 7% Blast Gold Points, and 3% to the Blur Foundation.

According to a user's experience, having 2.3 million points places them ahead of only 8.5% of users on the Blast leaderboard. Assuming an average distribution based on a pre-market price of $0.03, ideally, each user could receive up to about $300 in Airdrop, but considering point weight, the value received by users with lower points may be much lower.

Before the opening, the market predicted the price of Blast. The pre-market price was approximately $0.03, based on a total supply of 10 billion and an initial allocation of 1.7 billion, corresponding to a fully diluted valuation of $3 billion and a circulating market cap of $510 million. Compared to other Layer 2 projects, this valuation is considered to be within a reasonable range.

In the long term, the market prospects for BLAST are influenced by multiple factors. Layer 2 solutions are becoming increasingly important in the blockchain industry, and Blast may benefit from the overall growth of the sector. However, competition among Layer 2 projects is fierce, and Blast needs to continuously strive for technological innovation, user experience, and ecosystem development.

To succeed in the highly competitive Layer2 market, Blast needs to implement a series of strategies, including technological innovation, ecosystem development, strengthening community engagement, marketing, and maintaining governance transparency.

Overall, the launch of the Blast Airdrop has attracted widespread attention, and its Token economics and market prospects are highly anticipated. Despite facing challenges, with continued efforts, Blast is expected to secure a place in the Layer2 market. As more users and developers join, its future development potential is promising.