Blast Announces Allocation of 10B Tokens for Phase 2 Rewards

An Ethereum Layer 2 network, Blast, has announced its Phase 2 user rewards, allocating 10 billion tokens divided into Blast Points and Blast Gold following Phase 1’s distribution of 17 billion tokens last week.

According to the official announcement, Phase 2 aims to boost mobile dApp development and incentivize users via the Blast App. Half of the second-phase rewards, or 5 billion Blast tokens, will be allocated to Blast Points. Users can earn these points based on their ETH, WETH, USDB, and BLAST balances.

The remaining 5 billion tokens will be set aside for Blast Gold, with dapps receiving Gold based on their performance on Blast’s mainnet and in future competitions, enhancing engagement and innovation in the ecosystem.

The Phase 2 airdrop will last for 12 months to support the development of the full-stack chain. Blast emphasized that building the initial infrastructure and supporting new dapps requires time.

Blast’s token price fell 11% in the past 24 hours to $0.019, with a circulating supply of 17.4 billion tokens, while DefiLlama reported its total locked value dropped to $1.35 billion from $2.3 billion since June 6.

The allocation of tokens in Blast’s Phase 2 underscores its strategic focus on fostering ecosystem growth and user participation in Ethereum’s Layer 2 space.

Also Read: Blast Token Soars 20%, Airdrop Hype Fuels $2 Billion FDV