Layer 2 Network Blast Announces Token Distribution Event Starting June 26

The Layer 2 network Blast has revealed plans for its upcoming token distribution event. According to an official announcement, the Blast Foundation will initiate the first phase of its airdrop on Wednesday, June 26, at 10 a.m. ET (2 p.m. UTC).

Layer 2 scaling solution Blast has announced plans for its upcoming token distribution event, with the first phase of the airdrop set to begin on June 26.

According to the announcement, a total of 17 billion BLAST tokens will be distributed during the initial phase of the airdrop. Of this amount, 7% will be allocated to users who contributed to the protocol’s liquidity by bridging either ETH or Blast’s stablecoin USDB.

Another 7% of the airdrop will be allocated to users who earned Blast Gold through participation in the network’s decentralized applications. Additionally, the Blur Foundation, which is associated with the NFT marketplace Blur, will receive 3% of the airdrop for distribution to its community.

The Blast tokenomics indicate that 50% of the total 100 billion token supply will be allocated for community distribution over the next three years. Core contributors will receive 25.5%, investors 16.5%, and the Blast Foundation 8% during this period.

The announcement also notes that wallets ranked in the top 1,000 by points will have their airdrop partially vested linearly over six months, which may impact the immediate token liquidity for these accounts.