Ethereum Layer 2 scaling network Blast released 17 billion BLAST tokens in its first airdrop. According to a post published by Blast, the tokens were distributed to the first users of the network at 17:00 today.
According to Parsec Finance's blockchain explorer, within hours of the token launch, approximately 35% of the airdropped tokens were claimed.
The 17 billion BLAST tokens distributed in the airdrop represent 7% of the total supply of 100 billion BLAST tokens, according to data from CoinGecko. BLAST was trading at $0.028 on pre-launch trading platform Whales Pro. This brings the total value of 17 billion BLASTs to an estimated $476 million. According to after-sales data, at the time of writing this article, it is traded at $ 0.0229 with a market value of $ 392 million.
According to Blast's website, users of the Blast network received most of the BLAST airdrop. The allocation of BLAST tokens in the first phase airdrop was determined by the number of Blast Points users had accumulated before the event, in accordance with the tokenomics of the network.
Going forward, Blast plans to allocate 25.5% of BLAST tokens to its core participants, 16.5% to the network's investors, and 8% to the Blast Foundation. The remaining 50% of BLAST's total supply will be reserved for community initiatives.
*This is not investment advice.