Upcoming Airdrop Exploring Blasts Token Economy Model

CoinDesk reports:
Compiled by: Deng Tong; Source: Blast
On June 26, 2024, Blast announced the token economics. The total supply of BLAST is 100 billion, with 50% to be airdropped to the community, and the initial airdrop amount is 17 billion. The details of Blast’s token economics are compiled to benefit readers.
I. Introduction to Blast
Blast is a Layer 2 blockchain where users can earn rewards by bridging assets. It provides incentives such as points, coins, airdrops, and rewards to attract users and developers. There are many mining opportunities in the Blast ecosystem, such as Ambient, Juice, Synfutures, nftperp, and Munchables.
Developed by Pacman and supported by Paradigm, Blast aims to create native rewards for L2. When we deposit tokens into L2, we are actually depositing the corresponding tokens into the smart contract corresponding to L1 and L2. These are idle tokens that are not used to earn rewards. Blast recommends converting ETH and stored stablecoins into stETH and DAI to earn rewards from staking and treasury.
II. Blast Token Economic Model
1. Community – 50,000,000,000 (50%)
The success of Blast is attributed to users and builders in the community who contribute to the ecosystem. 50% of the total supply of BLAST is reserved for the community and will be distributed through incentive activities. 100% of this allocation will go directly to the community. Community allocations will unlock linearly over a period of 3 years from the TGE date, with any allocations being subject to a schedule determined by the Blast Foundation.
2. Core Contributors – 25,480,226,842 (25.5%)
All tokens allocated to core contributors have a 4-year lockup period, with 25% of the core contributor tokens unlocking 1 year after the TGE date and then unlocking linearly on a monthly basis over the next 3 years.
3. Investors – 16,519,773,158 (16.5%)
All tokens allocated to investors have a 4-year lockup period, with 25% of the investor tokens unlocking 1 year after the TGE date and then unlocking linearly on a monthly basis over the next 3 years.
4. Blast Foundation – 8,000,000,000 (8%)
The foundation’s allocation will be reserved for critical infrastructure and further development of the Blast ecosystem. Foundation allocations will unlock linearly over a period of 4 years from the TGE date.
III. Details of Blast’s First Phase Airdrop of 17,000,000,000 (17%)
1. Blast Points – 7,000,000,000 (7%)
Users who connect ETH or USDB to Blast have provided initial liquidity to the Blast ecosystem and received Blast points in the first phase. These users will receive a 7% reward of the total supply of BLAST.
2. Blast Gold – 7,000,000,000 (7%)
Users who contribute to the success of Dapps will receive Blast Gold and a 7% reward of the total supply of BLAST.
3. Attribution
The top 0.1% of users (approximately 1000 wallets) will receive a linear portion of the airdrop over 6 months. Attribution requires meeting a monthly point threshold based on activities in the first phase.
4. Blur Foundation – 3,000,000,000 (3%)
The Blur Foundation will receive 3% of the total supply of BLAST for distribution to the Blur community for retroactive and future airdrops.
IV. Current Development and Future Prospects of Blast
According to data disclosed by Token Terminal, the monthly active user count and USDB supply of the L2 network Blast have doubled in the past 90 days, with user growth mainly driven by Blur, Thruster, Spacebar, YOLO Games, and others. Blast’s ecosystem stablecoin USDB ranks fifth globally in trading volume, all of which comes from on-chain DEX trading. According to the latest data from Coingecko, the market value of USDC is approximately $405 million, with a circulating supply of 406,046,631 tokens.
Blast is highly focused on crypto users and crypto builders. Bringing the two together has formed an explosively growing ecosystem. The Blast ecosystem is a powerhouse with groundbreaking DAPPs.
What sets Blast apart is the new building blocks it provides for builders: native yield and gas income sharing. By integrating with Lido and MakerDAO on the backend, Blast offers 4% and 5% annualized yield for ETH and stablecoins, respectively, anywhere on-chain. As a result, Blast has a higher percentage of native dapps than any EVM chain (including L1 and L2).
Blast has mastered the complexity of cryptocurrencies and is inclined to explore its new forms.
Blast is particularly suitable for SocialFi projects, those looking to build projects at the intersection of social networks and DeFi, some of which have recently emerged on Blast.
Fantasy Top is a competition where users select their favorite crypto personalities’ teams based on engagement metrics such as Twitter, and is set to go live after the upcoming airdrop.
EarlyFans is a SocialFi platform that tokenizes the relationship between content creators and their audience through speculative advantage, which launched its Beta version just before the upcoming airdrop.
DistrictOne makes money through money games featuring sharing, investing, and accumulating bonuses, catering to the needs of the community and influential people looking to expand and leverage their influence.
Blast has the opportunity to become an indispensable hub for DeFi.