Everything You Need to Know About the BLAST Ecosystem Opportunity Airdropped This Week

2024-06-25, 07:41

[//]:content-type-MARKDOWN-DONOT-DELETE
![](https://gimg2.gateimg.com/image/article/17193010391690791857hotspot.jpeg)
## [TL；DR]: 
Blast was launched by Blur founder Pacman on November 21, 2023, specifically designed to provide passive revenue opportunities for funds in Layer2 accounts.

Blast's core advantages are more reflected in its revenue design and marketing communication of "earning points and attracting people."

The Blast official recently announced that it will launch an airdrop event on June 26th this week.

## Introduction
The <a href="/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> Layer2 public blockchain Blast, which rose in popularity last year, is finally about to issue coins. The official announcement of Blast recently announced that it will launch airdrop activities on June 26th this week, and its ecosystem projects are likely to be launched or coin-issued later. Can Blast, which exchanges points for airdrops, contribute to the popularity of the Ethereum sector? What are the highlights of this ecosystem's development? This article will delve deeper into this topic.
 
## I. Introduction to Blast
Blast was launched by Blur founder Pacman on November 21, 2023, and quickly gained widespread attention in the crypto community due to its specialized design to provide passive revenue opportunities for funds in Layer2 accounts.
![](https://gimg2.gateimg.com/image/article/17193010891.jpg)
Source: blast.io

Through this comprehensive strategy, Blast hopes to revolutionize the crypto industry, provide users with secure, convenient, and efficient wealth appreciation channels, and inject new liquidity into the crypto market through its automated revenue system, driving the development of the entire industry.
 
## II.  Blast Team
The total financing for the Blast project is $20M, and the team members have a deep background. They come from well-known companies such as FAANG and prestigious universities such as Yale University, Massachusetts Institute of Technology, Nanyang Technological University, and Seoul University. They have experience in developing DeFi protocols in Web3 ecosystems such as MakerDAO.

The founder of Blast is Pacman, who previously founded Blur, the largest NFT market protocol on the Ethereum chain, with over 330,000 users and $7B worth of NFT transactions. Blur also conducted the fifth-largest airdrop in Ethereum's history to date.
 
## III. Project Highlights
As the second layer blockchain of <a href="/price/optimism-op" target="_blank" class="blog_inner_link">Optimism</a> Rollup, Blast ensures seamless compatibility with the Ethereum network, making it easy for developers to migrate and deploy applications at low cost. However, this also means that the project does not have many technological highlights, and its core advantages are more reflected in its revenue design and marketing communication of "earning points and attracting people."

1.Native Revenue Mechanism: Blast provides users with native Ethereum (ETH) revenue, including a 5% automatic Annual Percentage Yield (APY), without additional user intervention.

2.ETH Yield: As a pioneer in the Layer 2 platform, Blast uses the Lido platform for Liquid Staking of user-deposited ETH, allowing ETH to automatically increase in value over time based on the ETH staking ratio.

3.Stablecoin investment: After users deposit Stablecoins such as USDC, USDT, and DAI on Blast, these assets will be invested in the RWA protocol, and the profits generated will be directly returned to the users.

4.Gas cost allocation: Blast reallocates all network generated revenue directly to DApp developers, allowing them to choose to retain revenue or allocate it to their respective DApp users.
![](https://gimg2.gateimg.com/image/article/17193011282.jpg)
Source: blast.io
 
5.Airdrop rewards: Blast launches an early incentive program to reward users with Blast points and GOLD tokens.
 
## IV. Ecosystem Development
In terms of ecosystem construction, Blast has formed a relatively complete ecosystem, covering multiple fields such as wallets, exchanges, DeFi, GameFi, Social, DAO applications, etc., with GameFi projects being particularly prominent.
 ![](https://gimg2.gateimg.com/image/article/17193011673.jpg)
Source: L2BEAT
 
According to data from DappRadar and L2BEAT, the TVL on the Blast chain is as high as $2.95B, ranking fourth. There are 121 Dapps, with a total wallet address of over 1.55M, a monthly active address (UAW) of over 1.29M, and a monthly transaction volume of over $25B.
 
## V. Token Economy Model and Token Launch Situation
The total supply of Blast tokens is suspected to be 100 billion, and the official website stated that community airdrops will be allocated to early visiting members (50%) and developers (50%), but no clear airdrop rules have been released yet.

Crypto KOL CBB0FE recently posted on X that its predicted BLAST token, which accounts for 14% of the total supply, will be used for airdrops. Considering some estimates and on-chain testing, approximately 4% of the total supply of BLAST tokens may be invested upon launch, meaning that the circulating supply accounts for 10%. In addition, 3% of BLAST may be allocated to market makers.

According to the official statement of Blast, if users have Gold or points and these assets are associated with externally owned accounts (EOAs), these users need to log in to Blast's dashboard at least once by receiving invitations or linking their EOAs to existing Blast accounts to ensure that their accounts are included in the calculation scope of airdrop activities. Meanwhile, all decentralized applications (DApps) must send all Gold or points to their users before 8 pm Beijing time on June 25.

Finally, it should be noted that Gate.io independently developed a secure and convenient noncustodial crypto wallet, Gate Wallet（ https://www.gate.io/web3 ）, which can be conveniently used for Blast ecosystem interaction and wallet login on the official website to check one's points and airdrop status.
 ![](https://gimg2.gateimg.com/image/article/17193012044.jpg)
Source: blast.io
 
## To Sum Up
The innovation of Blast lies in the use of headhunting to earn points, which opens up new marketing methods for communication. Meanwhile, it relies on transforming idle ETH and other assets into native income, solving the problem of interest rate free risk of crypto assets on Layer 2. This has attracted a lot of attention and capital, and is expected to change the return pattern of crypto assets, providing new ways for assets to seek returns.

Despite the controversy, Blast's commitment to transparency, innovation, and community governance foreshadows its continued development and impact of cryptocurrencies. With the launch of Blast, we look forward to witnessing the changes it brings.

<div class="blog-details-info">
<div>Author:**Carl Y.**, Gate.io Researcher
<div>Translator:Joy Z.
<div class="info-tips">\*This article represents only the views of the resea
rcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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