Blast's Token Airdrop Delayed

The long-awaited drop will now take place June 26.
David C David C May 16, 20241 min read
Blast's Token Airdrop Delayed

Blast, the native yield ETH L2 from the founder of NFT marketplace Blur, announced the delay of their BLAST airdrop.

What's the scoop?

  • Airdrop Delay and Increased Allocation: The BLAST airdrop is now set for June 26, pushed back from May. The network apologized for the delay and announced an increased airdrop allocation, though it did not state the reason.
  • Blast Gold Points: Two more distributions of Blast Gold points will occur before the airdrop. Blast provides these points to dApp developers, who then distribute them to their dApp’s users.
  • Airdrop Allocation: Half of the token airdrop will go to developers through Blast Gold, and the other half will go to early users who bridged funds to the network before the mainnet launch.
  • Since November, users have bridged over $2.3B worth of crypto to earn points for the upcoming airdrop. This interest is driven by Blast's user incentives, similar to Blur, which handed out $818M in 2023. 
  • Blast has continued growth since its launch and become home to popular apps like Fantasy.Top, driving an increase in NFT trading volume.

Bankless Take:

Missing out on an initial estimate isn't great, and it's unclear whether the miss was caused by technical issues or the team hoping that kicking the can a month will place the drop in a more favorable market environment. We can only speculate on Blast's motivations. The bullish take would be them holding the airdrop for a more opportune time. A more bearish take might be that Blast is still nervous about what will happen to their network activity once the airdrop launches, and is still trying to foster what it sees as sustainable user activity.

David C

Written by David C

117 Articles View all      

David is a writer/analyst at Bankless. Prior to joining Bankless, he worked for a series of early-stage crypto startups and on grants from the Ethereum, Solana, and Urbit Foundations. He graduated from Skidmore College in New York. He currently lives in the Midwest and enjoys NFTs, but no longer participates in them.

No Responses