BLAST Launches Airdrop, Distributing 17% of Tokens to Early Users
The layer 2 protocol, Blast, has just distributed 17% of its native token, BLAST, as an airdrop to early users who accumulated points by staking ETH earlier this year.
Initial Valuation of BLAST
The Blast token debuted at around $0.03 with an initial fully diluted valuation (FDV) of $3 billion, according to CoinGecko. The token’s price quickly dropped by approximately 30% to near $0.02, resulting in a market capitalization of $350 million and an FDV of $2.1 billion at the time of writing.
Last year, the Blast project garnered attention after the launch of a one-way token bridge, which allowed users to deposit funds but not withdraw them until the blockchain was live. Despite this controversy, Blast managed to attract a total of $2.3 billion in deposits between November and March, demonstrating strong investor confidence.
How to Claim Your BLAST Token Airdrop
To claim your BLAST tokens, visit the official Blast.io website (only from your computer/mac) and click on “Claim Phase 1 Airdrop.” Connect your wallet (currently only MetaMask and WalletConnect are available). You will need to watch an entire video without the option to skip.
You will then need to link your X account and post a tweet. Afterwards, you will need to download the Blast application on your smartphone using a shared QR code.
Once these numerous and tedious steps are completed, you will finally have the opportunity to retrieve your BLAST tokens (only from your computer).
Blast’s Positioning in the Market
Currently, Blast has a Total Value Locked (TVL) of $1.62 billion, making it the second largest layer 2 network after Arbitrum.
