Ethereum Layer 2 scaling network Blast raises 17 billion in its first airdrop BLAST launched the token. According to a post published by Blast, the tokens were distributed to the first users of the network at 17:00 today.
According to Parsec Finance’s blockchain explorer, within hours of the token launch, approximately 35% of the airdropped tokens were claimed.
The 17 billion BLAST tokens distributed in the airdrop represent 7% of the total supply of 100 billion BLAST tokens, according to CoinGecko. BLAST was trading at $0.028 on the pre-launch trading platform Whales Pro. This puts the total value of 17 billion BLAST at an estimated $476 million. At the time of writing, it is trading at $0.0229 with a market cap of $392 million, according to post-sale data.
According to Blast’s website, users of the Blast network received most of the BLAST airdrop. The allocation of BLAST tokens in the first phase airdrop was determined by the number of Blast Points users had accumulated before the event, in accordance with the tokenomics of the network.
Going forward, Blast plans to allocate 25.5% of BLAST tokens to its core participants, 16.5% to the network’s investors, and 8% to the Blast Foundation. The remaining 50% of BLAST’s total supply will be reserved for community initiatives.
*This is not investment advice.
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