BLAST Airdrop Distribution Breakdown
BLAST Airdrop– The long-anticipated native token of the Ethereum layer-2 network, Blast (BLAST), saw an impressive 40% surge after its launch, outperforming other recent high-profile airdrops.
BLAST debuted at $0.02 per token, giving it a fully diluted value (FDV) of $2 billion at launch, based on data from Ambient Finance and the perps trading platform Aevo.
Since then, the price of BLAST has risen over 40%, reaching $0.0281 at the time of writing, according to CoinMarketCap data.
In stark contrast to other recent high-profile token launches, such as Ethereum layer-2 network zkSync (ZK) and cross-chain interoperability LayerZero (ZRO), BLAST has performed exceptionally well. While BLAST surged, zkSync and LayerZero have seen their token values plummet by 46% and 43% respectively since their launches.
The BLAST airdrop released 17% of the token’s total supply. Of this, 7% was allocated to users who had bridged Ether (ETH) or USD on Blast (USDB) to the network starting late last year. Another 7% was given to users who contributed to the success of decentralized applications (DApps) on the network. The remaining 3% went to the Blur Foundation for future airdrops to its community.
BLAST’s Initial Value and Market Performance
The airdrop wasn’t without its critics. Many crypto market commentators on X expressed disappointment, feeling that the launch valuation fell short of their expectations.
Arthur Cheong, co-founder of the crypto investment firm DeFiance Capital, voiced his surprise at BLAST’s $2 billion fully diluted value (FDV). He had anticipated a valuation closer to the $5 billion mark.
The Blast network, co-founded by Blur creator Tieshun Roquerre—better known by his pseudonym PacMan—faced criticism from its own seed investors back in November. They argued that the network didn’t offer enough features to justify a one-way bridging mechanism, which required users to lock up their ETH for several months.
Scammers Target BLAST Airdrop
Much like other high-profile airdrops this year, such as the one by the cross-chain bridge protocol Wormhole, Blast’s airdrop event attracted a wave of scammers on X.
These scammers often take advantage of large-scale airdrop events by posing as legitimate-looking copycats. Airdrops typically require crypto users to connect their wallets and sign transactions to claim their tokens, making them prime targets for fraud.
One unfortunate user, identified by the crypto security service Scam Sniffer, fell victim to a Blast airdrop scam and lost over $217,000 after signing multiple phishing signatures.
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