Ethereum Layer 2 network Blast, created by the Blur NFT marketplace founder, establishes a governance foundation to facilitate decentralized protocol management

On Monday, Blast, an Ethereum Layer 2 network developed by Tieshun Roquerre, the visionary behind the Blur NFT marketplace, announced the formation of a new foundation dedicated to governing its protocol. This strategic move is set to coincide with Blast's token airdrop, scheduled for later this week.

The announcement was made via Blast's official account on X, marking a significant transition towards a decentralized governance structure. The post highlighted that until now, Arcade Research, a Blast development company, managed Blast’s online presence. Moving forward, control of Blast’s Twitter, website, and protocol governance will be handed over to the newly established foundation.

"The foundation is being created to support the community in achieving the Blast Vision, which will be shared publicly on June 26," the post stated. This vision will likely outline the protocol's roadmap and community goals.

Details about the Blast tokens remain somewhat vague, with a recent post on X indicating a division into several categories based on different wallet addresses. Speculation suggests that Blur farmers might be among the recipients of these tokens.

The project has clarified that the airdrop will be divided into two main categories: Blast Gold and Blast Points. Half of the airdrop allocation will go to developers through Blast Gold, incentivizing the growth of decentralized applications (dapps) on the network. The other half will be distributed to early users through Blast Points, which are earned based on wallet and dapp balances.

"50% of the Blast Airdrop is allocated to Blast Points," the project stated, explaining that users’ wallets will accumulate points automatically for every block based on their balances. For dapps, Blast Gold aims to foster further growth, with an expectation that dapp developers will pass the earned Gold to their users.

Blast, which entered early access in November 2023, has already made a significant impact. The protocol's total value locked (TVL) surpassed $2 billion earlier this year, according to DefiLlama, a leading DeFi analytics platform.

Moreover, Blast has gained traction in the gaming sector. The crypto trading card game "Fantasy" launched on Blast's mainnet in April following a successful testnet phase, contributing to the protocol's popularity. Recently, Blast has ascended into the top 10 platforms by daily fee generation, underscoring its growing influence in the blockchain space.

As the community eagerly awaits the detailed Blast Vision and the upcoming airdrop, the establishment of the governance foundation marks a pivotal step in Blast’s journey towards decentralized management and community-driven development.