The Layer 2 network Blast has revealed plans for its upcoming token distribution event.
According to an official announcement, the Blast Foundation will initiate the first phase of its airdrop on Wednesday, June 26, at 10 a.m. ET (2 p.m. UTC).
This initial distribution will see 17 billion BLAST tokens allocated to various stakeholders. Users who contributed to the protocol’s liquidity by bridging ETH or Blast’s stablecoin USDB will receive 7% of the airdrop.
Furthermore, another 7% will be designated for users who earned Blast Gold through participation in the network’s decentralized applications. The Blur Foundation, associated with the NFT marketplace Blur, will receive 3% for distribution to its community.
Of the total 100 billion token supply, 50% is allocated for community distribution over the next three years. Core contributors will receive 25.5%, investors 16.5%, and the Blast Foundation 8% during this period.
The tokenomics report also indicates that wallets ranked in the top 1,000 by points will have their airdrop partially vested linearly over six months, potentially impacting immediate token liquidity for these accounts.
Also Read: Blast Sets Foundation to Govern Protocol, Airdrop Scheduled
