Blast L2 network team announces the second phase of the 10 billion BLAST airdrop

What’s new? The team of the Blast layer 2 (L2) network on the Ethereum blockchain has revealed details of the second phase of the BLAST native token airdrop among users and ecosystem developers. The main goal of this phase, which is allocated 10 billion BLAST tokens, is to support the development of mobile decentralized applications (DApps) and engage users with them.

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What else is known? 50% of the total pool is allocated to users with Blast Points. These rewards are awarded based on balances in ETH, WETH, USDB, and BLAST coins, as well as their activity and liquidity during the previous phase of the distribution.

Another 5 billion coins are allocated to DApps developers with Blast Gold points. Points are allocated to app teams based on their popularity, participation in the ecosystem, and success in upcoming Big Bang contests. One such competition was already held in February, with 47 winners selected, including crypto exchanges, social networks, gambling platforms, infrastructure, and NFT projects. The new contest will emphasize mobile applications.

A staggered distribution of points to developers will be held the first week of each month, with the exception being the first distribution on July 8. Apps, in turn, are expected to distribute these rewards to users to stimulate activity fully.

The distribution will be handled by the Blast Foundation NPO, which was launched at the end of June to increase the decentralization of the project. It now also controls the Blast social networks and oversees the management of the protocol.

Blast developers note that users can leave feedback on the management forum about DApps, which will be reviewed before conducting giveaways. They encouraged DApps teams to increase the transparency of their projects by publishing on-chain data and information about reward distribution mechanisms.

In addition, to speed up the implementation of the Blast app, users will receive Golden Tickets for downloading it based on their ETH, WETH, USDB, and BLAST balances. These bonuses will allow doubling the Blast Points and Blast Gold bonus points, as well as receiving the project’s merch as a gift.

In total, the second phase of the airdrop will last 12 months. The team notes that its main goal is to encourage the development of a full ecosystem. It will take time to build the initial infrastructure, such as the Blast app, and to support developers in building DApps on top of that infrastructure. If progress comes faster than expected, the Blast Foundation will be willing to shorten the timeline.

According to L2Beat, Blast is the fourth-largest L2 network on the Ethereum blockchain by total value locked (TVL) at $2,79 billion.

The launch of the BLAST token and the first phase of the $2 billion Airdrop took place on June 26. At the time of writing, the asset ranks 187th in the overall cryptocurrency ranking with a capitalization of $325,9 million and is trading at $0,01862, having lost 11,5% over the day.