Blast Token Airdrop Is Just a Week Away

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As an experienced analyst in the crypto space, I’ve seen my fair share of token airdrops and the impact they can have on communities. The delay in Blast Network’s airdrop from May to June is disappointing, but the team’s decision to increase the allocation of BLAST tokens as compensation shows their commitment to their users.

The Ethereum (ETH) Layer 2 protocol Blast Network is set to initiate its token airdrop next week, as announced by its creator, who is also the founder of NFT marketplace Blur. Originally planned for May, the airdrop launch was postponed and has been rescheduled for June 26.

Blast admitted that the postponement might impact their community negatively and issued an apology. To make up for the delay, they chose to boost the distribution of BLAST tokens.

Requirement for Blast Token Airdrop

In a recent post on its platform, Blast mentioned that in order to participate in their airdrop, users must complete certain tasks. Specifically, they need to log into their Blast dashboard using a valid Externally Owned Account (EOA) at least once. Only then will they become eligible for the airdrop distribution.

“To be eligible for the airdrop, I need to have signed into my Blast dashboard with the Ethereum Address (EOA) that holds Points or Gold at least once – either by accepting an invitation or linking it to an existing account.”

Significantly, Decentralized Applications (DApps) aim to disburse all allocated Gold and Points to users by June 25, 8 am Eastern Time. This action is taken to ensure that these digital assets are included in each user’s External Owned Addresses (EOAs) for the airdrop. Subsequently, any remaining Points and Gold within smart contracts after the airdrop cut-off will be disregarded during calculations.

As an analyst, I would explain it this way: I, as an analyst, would like to clarify Blast’s distribution plan for the airdrop. Fifty percent of the tokens will be allocated to developers through Blast Gold. On the other hand, the remaining fifty percent will be distributed among early users based on their wallet and DApp balances, using Blast Points as the mechanism for allocation.

Individuals who transferred funds to the Blast network prior to its official launch in early February will be among the recipients of benefits. A crucial aspect to remember is that Blast Gold serves as an incentive for the expansion of Decentralized Applications (DApps). Consequently, DApps are required to distribute 100% of any earned Gold directly to their users.

Blast Unlocks $2.3B in Locked Funds

By May, when the airdrop was delayed, over $2.3 billion worth of tokens had been transferred by participants in order to accrue points. This demonstrates the heightened excitement surrounding the token.

In March, Blast initiated the launch of its mainnet, resulting in the release of approximately $2.3 billion worth of cryptocurrencies that had previously been staked on the platform. This event granted Early Access users the freedom to transition to the mainnet and engage with DApps unique to Blast. Notable attributes showcased on their website include the functionality of automatic rebasing and staking.

Just like Blast has unveiled its plan for next week, which involves an airdrop, Binance, the world’s leading cryptocurrency exchange, has made an announcement regarding a similar initiative called “HODLer Airdrops.” Unlike the airdrop intended for all, this upcoming airdrop is designed exclusively to recognize and reward dedicated BNB holders for their unwavering support and commitment to the platform. The specific date for the potential distribution of these rewards has yet to be disclosed.

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2024-06-20 12:07