Blast announces Allocation of 10 Billion Tokens for Phase 2 Airdrop
Blast, an Ethereum Layer 2 network, has announced the allocation of 10 billion tokens during phase 2 of its reward for users. The platform, which was created by the founder of the NFT marketplace Blur, issued 17 billion BLAST tokens to its network's early adopters in the first phase.
The Blast Phase 2 guide for users is now live. Read the guide to understand how Phase 2 works in terms of Points, Gold, vesting, Golden Tickets, and more.
— Blast (@blast) July 2, 2024
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According to a blog post, Blast stated that Phase 2 is divided into Blast Points and Blast Gold, just like Phase 1. For Phase 2 rewards, 10 billion BLAST have been set aside, and its main goal is to assist in the creation of mobile Dapps and encourage users to use them by using the Blast App.
Blast Points are the beneficiary of half of the Phase 2 rewards (5 billion BLAST). Users' ETH, WETH, USDB, and BLAST (subject to a BLIP-2 Progress Council vote) balances can be used to accrue Blast Points. Furthermore, Blast Gold receives the other half of Phase 2 rewards (5 billion BLAST). Dapps have the potential to receive Gold through future Big Bang competitions and Blast Mainnet traction.
The invite bonuses for Phase 2 will only be earned by newly invited users. Invite bonuses aren't active right now, but in Q4, when the Blast App's full wallet functionality is released, a new invite bonus will be introduced. With the release of the Blast App incentives, users who invite new users to Blast in the interim will have their new invite bonuses applied retroactively, Blast said in the post.
Phase 2, which is scheduled to run for a full year, is primarily intended to assist with the Fullstack Chain's development. The Blast App is the first piece of infrastructure that will need to be created, and it will take time to support Dapps in developing new applications on top of that infrastructure. The Blast Foundation anticipates that achieving that objective will take a full year. In the event that advancements surpass initial projections, the Blast Foundation remains flexible in shortening the schedule in the future, explained the project.
According to CoinGecko data, the 17 billion BLAST that were distributed in the phase 1 airdrop a week ago account for 7% of the 100 billion BLAST tokens in total supply.
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