Airdrop imminent, overview of Blast's token economic model

Compiled by Deng Tong, Golden Finance; Data Source: Blast, Golden Finance

On June 26, 2024, Blast announced the token economics. The total supply of BLAST is 100 billion, with 50% being airdropped to the community, and the initial airdrop amount is 17 billion. Jinse Finance has compiled detailed information on Blast token economics for readers.

一、Introduction to Blast

Blast is a Layer 2 blockchain where users can earn profits by bridging assets. It offers incentives such as points, coins, airdrops, and returns to attract users and developers. There are many mining opportunities in the Blast ecosystem, including Ambient, Juice, Synfutures, nftperp, and Munchables.

Blast was developed by Pacman with the support of Paradigm, with the aim of creating native revenue for L2. When we deposit tokens into L2, we are actually depositing the corresponding tokens into the smart contract on L1 that corresponds to L2. These are idle tokens that are not used to earn revenue. Blast recommends converting ETH and stored stablecoins into stETH and DAI, respectively, to earn rewards from staking and the treasury.

二、Blast Token Economic Model

1. Community - 50,000,000,000 (50%)

The success of Blast is attributed to the user and builder community that contributes 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 distribution will go directly to the community. The community allocation will be linearly unlocked within 3 years from the TGE, and any allocation will be based on the 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 lock-up period, with 25% of core contributor tokens unlocking 1 year after the TGE date, followed by monthly linear unlocking over the next 3 years.

3. Investors - 16,519,773,158 (16.5%)

All tokens allocated to investors have a 4-year lock-up period, with 25% of investor tokens unlocking 1 year after the TGE date, followed by linear unlocking on a monthly basis for the next 3 years.

4.Blast Foundation - 8,000,000,000 (8%)

The foundation’s funding will be reserved for critical infrastructure and further development of the Blast ecosystem. The foundation’s allocation will be linearly unlocked over 4 years from the TGE.

3. Blast Phase 1 Airdrop Plan Details: 17,000,000,000 (17%)

1.Blast Points – 7,000,000,000 (7%)

Connecting ETH or USDB to Blast has brought initial liquidity to the Blast ecosystem and earned 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. Ownership

The top 0.1% of users (about 1000 wallets) will receive a linear airdrop within 6 months. According to the first phase of the activity, attribution needs to reach the monthly points threshold.

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 tracing and future airdrops.

Four, Blast development status and prospects

According to the data disclosed by Token Terminal, the monthly active user count and the stablecoin USDB supply of L2 network Blast have both doubled in the past 90 days, with user growth mainly driven by Blur, Thruster, Spacebar, YOLO Games, etc. Blast’s ecosystem stablecoin USDB is the fifth largest stablecoin by global trading volume, all of which comes from on-chain DEX trading volume. According to the latest data from Coingecko, the market value of USDC is approximately $405 million, with a circulating supply of 406,046,631 coins.

Blast pays great attention to both cryptocurrency users and builders. Bringing them together forms an explosive growth ecosystem. The Blast ecosystem is a super-strong economy with groundbreaking DAPPs.

Blast’s uniqueness lies in providing builders with new building modules: local revenue and gas income sharing. By integrating with Lido and MakerDAO on the backend, Blast offers 4% and 5% annualized returns for ETH and stablecoins, respectively, from anywhere on the chain. Therefore, Blast has a higher percentage of native dapps than any EVM chain (including L1 and L2).

Blast has mastered the complexity of cryptocurrency and tends to explore new forms of it.

Blast is particularly suitable for SocialFi projects, which are projects that aim to build at the intersection of social networks and DeFi. Some of these projects have recently emerged on Blast.

Fantasy Top is a competition in which users select their favorite cryptocurrency characters’ teams based on factors such as Twitter engagement to participate in the championship. The mainnet is about to go live after the airdrop announcement.

EarlyFans is a SocialFi platform that further tokenizes the relationship between content creators and their audiences through speculative advantages, and has just launched its Beta version ahead of the upcoming airdrop.

DistrictOne makes money through money games with features of sharing, investment, and accumulating bonuses, catering to the needs of communities and influential people who want to expand and leverage their influence.

Blast has the opportunity to become an indispensable DeFi hub.