The Blast Foundation, the governance body behind the Layer 2 network Blast, has unveiled the details for its eagerly awaited airdrop. On Wednesday, June 26, at 10 a.m. ET (10 p.m. HKT and 4 p.m. CET), the foundation will disperse 17 billion BLAST tokens as part of its phase 1 airdrop, as announced in a recent social media post. This airdrop marks a significant event for the Blast community, aiming to reward early participants and boost engagement within the network.

Out of the 17 billion tokens, 7% will be allocated to users who contributed to the protocol's liquidity by bridging Ethereum (ETH) or Blast's stablecoin USDB. Another 7% of the initial airdrop will be distributed to users who earned Blast Gold by participating in decentralized applications. The remaining 3% will be given to the Blur Foundation, intended for both retroactive and future airdrops to the Blur community, as outlined in Blast's tokenomics report. This structured approach ensures a broad distribution of tokens, incentivizing various user activities within the ecosystem.

In addition to the immediate airdrop details, Blast has provided further insights into its tokenomics strategy beyond June 26. The protocol has allocated 50% of its total 100 billion token supply to the community, with more airdrops planned over the next three years. Core contributors will receive 25.5% of the total token supply, while investors and the Blast Foundation will receive 16.5% and 8%, respectively, during the same period. This comprehensive token distribution plan underscores Blast's commitment to fostering a robust and engaged community.

Blast was founded by Tieshun Roquerre, who is also the founder of the NFT marketplace Blur. The platform aims to establish a native yield model for Ethereum and stablecoins, providing users with innovative opportunities to generate returns on their digital assets. The mainnet of Blast was launched on February 29, signaling the start of its journey to revolutionize the DeFi space.

Currently, Blast maintains over $1.67 billion in total value locked (TVL), according to data from DeFiLlama. This substantial TVL reflects the platform's growing influence and the trust it has garnered within the cryptocurrency community. The upcoming airdrop is expected to further enhance Blast's prominence and user engagement, solidifying its position as a key player in the DeFi sector.