Blast, an Ethereum Layer 2 network, announced today that it has established a foundation to oversee its protocol.
The announcement was made via Blast's X account just two days before the protocol's token airdrop, which is scheduled to take place later this week.
Previously the account and website were managed by Arcade Research, a company dedicated to the development of Blast. As part of the transition to a decentralized management structure, the management of the Twitter account, website and Blast protocol comes under the control of the newly established foundation.
According to a post, the foundation is being created to support the community in achieving the Blast Vision, which will be shared publicly on June 26.
Blast tokens will be divided into different categories, but the exact definitions remain unclear. A Blast token breakdown published on X on Sunday shows that there may be as many as four to five categories, depending on their division into different wallet addresses.
The post speculates that Blur farmers may be among the recipients of the tokens.
The project stated that “50% of the Blast Airdrop is allocated to Blast Points” and users will automatically earn points for each block based on their wallet balance. For decentralized applications (dapps), Blast Gold aims to spur additional dapp growth. “This means Dapps must give 100% of the Gold they earn to their users,” the project said.
*This is not investment advice.
