On June 26 at 10am ET sharp, the much-anticipated Blast airdrop will take place, showering crypto enthusiasts with a massive 17 billion BLAST tokens. This event is set to reward users of Blast, the Ethereum layer-2 scaling network created by the minds behind Blur, a disruptive and incentivized NFT marketplace. Crypto holders who have engaged with the Blast network stand to gain substantial amounts of these tokens, based on the number of Blast Points they have accumulated.
A significant portion of this airdrop, 50% to be exact, has been earmarked for users of decentralized apps (dapps) within the Blast ecosystem. These tokens will be distributed through various dapps that have received Blast Gold and passed it on to their users. For those wondering if they qualify for the airdrop, here’s a detailed look at who is eligible and how they can benefit.
The total supply of BLAST tokens will eventually reach 100 billion. Out of this, 25.5% is allocated to core contributors, 16.5% to the network’s investors, 8% to the Blast Foundation, and 50% for community initiatives, including this initial airdrop. The first phase of the airdrop will see 17 billion tokens distributed, with 7 billion each going to Blast Points and Blast Gold holders, and the remaining 3 billion directed to the Blur Foundation for retroactive and future airdrops.
For those eligible via Blast Points, it’s simple: if you’ve held any amount of ETH, WETH, or Blast’s native stablecoin USDB on the Blast network since the mainnet launched in February, you’ve been accumulating Blast Points. Users can check their Blast Points balance on their dashboard. ETH and WETH balances earn a consistent amount of points per transaction block, while USDB balances fluctuate with the price of ETH. The conversion rate updates with each transaction involving USDB. One of the standout features of Blast is the native yield for users who keep their funds on the network, with ETH and WETH earning roughly 4% interest, and USDB earning around 5%. This interest also translates into additional Blast Points.
Increasing your Blast Points doesn’t stop there. Users can invite friends to hold funds on the network, earning 16% of any points their friends accumulate. If those friends invite others, the original user earns 8% of the points the new users gather. Furthermore, transacting with certain dapps on the Blast network can boost Blast Points. When users transfer ETH, WETH, or USDB to a Blast dapp, the dapp starts earning points based on the contribution to its total value locked (TVL). These dapps are encouraged to pass the points back to users, and those who have interacted with promoted dapps might also enjoy Points Multipliers, increasing both their points balance and earning rate.
As for those eligible via Blast Gold, the process has been more selective. Over recent months, the Blast team has allocated Blast Gold to certain dapps within its ecosystem based on long-term alignment with Blast, design quality, and integration with Blast’s points system. These dapps have been encouraged to pass on 100% of accumulated Gold to their users. On June 26, holders of Blast Gold will receive a share of the 7 billion BLAST tokens designated for them, based on the amount of Gold they possessed as of that morning.
The distribution of Blast Gold has occurred five times since March, with millions of Gold tokens given to dapps meeting various criteria. Many of these dapps, like the meme coin community Pacmoon and the SocialFi gaming experiment Fantasy Top, have passed this wealth to their users. Those who have accumulated Blast Gold are poised to receive a generous portion of the BLAST airdrop, given the relatively lower circulation of Blast Gold compared to Blast Points.
VanEck, known for its innovative approach in the crypto space, initially won’t charge a fee for its Ethereum ETF, similar to its strategy with its Bitcoin ETF. This fee waiver is set to last until the fund reaches $1.5 billion in assets or until some unspecified time in 2025. Once either condition is met, the fund will implement a 0.20% fee. Matthew Sigel, VanEck’s head of digital-assets research, highlighted the firm’s intent to lead in crypto ETF fees, even at a potential initial loss. The aim is to recoup costs through high trading volumes, particularly in the decentralized finance sector.
The fee war among Ethereum ETF issuers is heating up, with VanEck and Franklin Templeton revealing their competitive fee structures. Franklin Templeton will charge a 0.19% fee, mirroring its Bitcoin ETF fee. Analysts are keenly observing BlackRock’s forthcoming fee announcement, which is expected to influence the entire market. Bloomberg Intelligence ETF analyst Eric Balchunas pointed out that firms typically disclose fees late in the launch process, and BlackRock’s fee decision will be a critical factor for other issuers.
Despite competitive pricing, some analysts question the appeal of Ethereum ETFs due to the inability to stake Ether for yields, which can reach up to 3% through exchanges and decentralized platforms. This raises a crucial consideration: why would institutions opt to pay ETF fees without the staking benefits? Adam Morgan McCarthy of Kaiko Research expressed skepticism, suggesting that even a 0.20% fee might deter some investors compared to potential staking yields.
However, Sigel argues that increased network activity from Ethereum ETFs could elevate Ether’s price, benefiting VanEck’s holdings. This potential for market stimulation and price appreciation is central to VanEck’s strategic approach.
As the market braces for the Blast airdrop and the launch of Ethereum ETFs, the crypto landscape is poised for significant shifts. Investors and enthusiasts alike are eagerly awaiting these developments, which promise to bring new opportunities and challenges in the ever-evolving world of digital assets.
The Blast airdrop marks a pivotal moment for the Ethereum layer-2 scaling network, rewarding its dedicated users and setting the stage for future growth. As the crypto community tunes in at 10am ET on June 26, the distribution of 17 billion BLAST tokens will undoubtedly spark excitement and anticipation for what lies ahead.
