Blast Airdrop lands, 17 billion Tokens allocation sparks market follow

On June 26, the highly anticipated Blast Airdrop finally arrived as promised. Previously, a certain trading platform had announced the launch of Blast Token trading in advance, injecting strong momentum into its secondary market price.

With the arrival of June 26th at 10 PM, accompanied by a speech, the Blast Airdrop officially begins. The specific correlation between points and Token airdrops has not yet been clarified, but as an example, a user with about 2.3 million points (ranked 55000+ globally) will receive 50,000 BLAST Tokens. For users with the highest points of about 23 billion across the network, it is estimated they could receive 50 million Tokens. Based on an initial issuance price of $0.03, this amounts to approximately $1.5 million.

Blast simultaneously announced its market maker strategy, allocating 220 million BLAST to 6 market makers for exchange market making. These market makers are gradually transferring BLAST to centralized exchanges in preparation for the 23:00 BLAST trading launch.

The airdrop distribution process has been mixed. Some users signed multiple phishing signatures on counterfeit websites, resulting in losses exceeding $200,000. The official Blast team promptly issued a reminder for users to be cautious of related scams. At the same time, some users expressed dissatisfaction with the airdrop returns; one partner claimed to have deposited over $50 million on Blast but only received $100,000 in airdrops.

Despite the controversy, Blast's market performance remains strong after the token issuance. Within just one hour after the airdrop began, the fully diluted valuation of BLAST exceeded $2.6 billion, with a one-day increase of over 20%, peaking at $2.9 billion, in line with early market expectations.

A certain international large exchange also announced the launch of Blast, further enhancing its market recognition. As of 12 hours after the Airdrop opened, over 2.5 million users have completed the claim, with a total of 12.4 billion Tokens claimed, accounting for 88.63% of the total 17 billion.

Blast is a Layer 2 blockchain that allows users to earn yields by bridging assets. It offers various incentives to attract users and developers to participate. Blast is developed by Pacman and has the support of a well-known investment institution, aiming to create native yields for Layer 2.

The token economics of Blast is mainly divided into four categories: the community accounts for 50%, core contributors account for 25.5%, investors account for 16.5%, and the Blast Foundation accounts for 8%. Community distribution will be unlocked linearly over 3 years from the issuance date, while the tokens for core contributors and investors have a 4-year lock-up period, and the foundation allocation will be unlocked linearly over 4 years.

The first round of airdrops will allocate 17% of the total BLAST supply (17 billion tokens) to users, including 7% in Blast points, 7% in Blast gold points, and 3% to a certain NFT trading platform foundation. The top 0.1% of users will receive a portion of the airdrop linearly over 6 months.

The total locked value of Blast has now reached $2.56 billion, with the number of users nearing 1.6 million. Assuming an average distribution of $0.03, each user could receive a maximum of about $300 in Airdrop, but considering the points weighting, users with lower points may receive a lower value.

Before the token issuance, the market expected the price of BLAST to be around $0.03. Based on a total supply of 10 billion and an initial allocation of 1.7 billion, the fully diluted valuation corresponds to $3 billion, with a circulating market capitalization 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 of BLAST are influenced by multiple factors. Layer 2 solutions are becoming increasingly important in the blockchain industry, and Blast may benefit from the growth of the entire industry. However, competition among Layer 2 projects is fierce, and Blast needs to continue its efforts in technology innovation, user experience, and ecosystem development.

To succeed in the highly competitive Layer2 market, Blast needs to continuously optimize technology, expand ecosystem application scenarios, strengthen community interaction, increase marketing efforts, and ensure transparency in project governance.

Overall, the launch of the Blast Airdrop has attracted widespread attention, and its Token economics and market prospects are highly anticipated. Despite facing challenges, Blast is expected to carve out a place in the Layer2 market through multifaceted strategies. As more participants join, the future development potential of Blast is worth looking forward to.