Blast Airdrop is coming, 17 billion Tokens distribution has attracted market attention

On June 26th, the highly anticipated Blast Airdrop finally launched. Previously, a trading platform had announced the listing of Blast Token trading, injecting strong momentum into its secondary market price.

Blast Airdrop officially starts

With the arrival of 10 PM on June 26th, accompanied by a speech, the Blast Airdrop is unfolding as scheduled. The specific correlation between points and Token airdrop is still unclear, but based on one user who received 50,000 BLAST tokens for approximately 2.3 million points (ranked 55,000+ globally), it can be inferred that the user with the highest ranking of around 23 billion points may receive approximately 50 million tokens, which would be worth about 1.5 million dollars at the initial issuance price of 0.03 dollars.

Blast has clarified its market maker strategy, allocating 220 million BLAST to 6 market makers for exchange market making. These market makers are transferring BLAST to centralized exchanges in preparation for the trading launch of 23 BLAST.

The airdrop distribution process has its ups and downs. Some users have lost significant amounts of money on counterfeit websites, prompting the officials to issue a warning to users to be vigilant against related scams. At the same time, some users expressed disappointment with the airdrop returns, believing they are not proportional to their investments.

Despite the controversy, Blast's market performance remained strong after the Token Generation Event (TGE). Within one hour of the Airdrop launch, the fully diluted valuation of BLAST (FDV) exceeded $2.6 billion, with a single-day increase of over 20%, peaking at $2.9 billion, in line with early market expectations.

A large international exchange has also announced the launch of Blast, further enhancing its market recognition. As of 11 AM the next day, approximately 12 hours after the Airdrop opened, over 2.5 million users have completed their claims, with a total of 12.4 billion Tokens claimed, accounting for 88.63% of the total of 17 billion.

Introduction to Blast and Token Economics

Blast is a Layer 2 blockchain that allows users to earn returns by bridging assets. It attracts users and developers to participate through various incentive measures. The Blast ecosystem includes multiple mining opportunities.

Blast was developed by a certain team and supported by a certain investment institution, aiming to create native yields for layer two networks. It suggests converting ETH and stablecoins into stETH and DAI respectively to obtain gains from staking rewards and the treasury.

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

1. Community: 50%, linear unlocking over three years
2. Core Contributors: 25.5%, four-year lock-up period
3. Investors: 16.5%, four-year lock-up period
4. Blast Foundation: 8%, linear unlocking over four years

Blast Airdrop Rules

The first round of airdrop will allocate 17% (17 billion) of the total BLAST supply to users, including:

• Blast Points: 7%
• Blast Gold Points: 7%
• Certain NFT trading platform foundation: 3%

The top 0.1% of users will receive a portion of the Airdrop linearly over 6 months. A certain NFT trading platform foundation will receive 3% of the Tokens for distribution.

Currently, the total staking value of Blast (TVL) has reached 2.56 billion USD, with the number of users approaching 1.6 million. Based on an initial price of 0.03 USD, each user could ideally receive up to approximately 300 USD in Airdrop, but considering the points weighting, the value received by low-point users may be lower.

Price Prediction and Market Analysis

The pre-market price is approximately $0.03. Based on a total supply of 10 billion and an initial distribution of 1.7 billion, the fully diluted valuation corresponds to $3 billion, with a circulating market cap of $510 million.

Compared to other Layer 2 projects, Blast's valuation is within a reasonable range. However, considering the market's declining recognition of Layer 2 tokens, the current price can still be viewed as a reasonable valuation.

Market Outlook and Potential Analysis of BLAST

In the long term, the market prospects for BLAST are influenced by various factors:

• Layer 2 solutions are becoming increasingly important in the blockchain industry.
• The design of Token economics reflects the importance placed on the community and core contributors.
• Facing fierce competition from other layer two projects
• The market's recognition of layer two tokens will affect their performance.

To succeed in a highly competitive market, Blast needs:

1. Continuous technological innovation
2. Expand application scenarios of the ecosystem
3. Strengthen community participation
4. Increase market promotion efforts
5. Ensure project governance transparency

Summary

The Blast Airdrop has attracted widespread follow, with its Token economics and market prospects highly anticipated. Despite facing challenges, Blast is expected to carve out a place in the Layer 2 market through various strategies. As more participants join, the development potential of Blast is worth looking forward to. We will continue to follow its dynamics and look forward to it bringing more value and opportunities to the blockchain industry.