Blast, a Layer 2 network on Ethereum, is gearing up to launch its highly anticipated token airdrop on June 26. The project announced that decentralized applications (dApps) built on Blast must distribute Blast Gold and Blast Points to users by June 25 to qualify for the airdrop. The tokens will be divided equally between users and developers, with 50% allocated to developers through Blast Gold and 50% going to users via Blast Points.

To be eligible for the airdrop, users must sign into the Blast dashboard with an eligible Externally Owned Account (EOA) wallet, which is a non-custodial wallet controlled by a private key. Developers are responsible for distributing Blast Points to users based on internal metrics, while Blast Gold is distributed manually to smart contracts every two weeks.

The airdrop was initially scheduled for May but was delayed last month, with the project increasing users' airdrop allocations. Blast has been controversial since its launch in November, with critics questioning its lack of transparency and dubious yield mechanism. Despite this, the project has gained significant traction, with a total value locked (TVL) of $3.12 billion, making it the fourth-largest DeFi protocol.

Blast's TVL has remained steady since reaching $3 billion in early March, with 96.5% of its assets locked in DeFi protocols. This positions Blast as the sixth-largest smart contract network and the second-ranked Layer 2 by DeFi TVL. In comparison, other Layer 2 networks like Arbitrum, Base, and OP Mainnet have significantly less assets locked in DeFi protocols.

In conclusion, Blast's upcoming token airdrop is highly anticipated, with users and developers set to benefit equally. Despite controversy surrounding its launch, Blast has established itself as a significant player in the DeFi space. As the project continues to evolve, it will be interesting to see how its token airdrop impacts its growth and adoption.