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Blast L2 Launches BLAST Token with 17% Airdrop to Early Adopters, $2B FDV

Jun 26, 2024, 06:25 AM

Blast L2, an Ethereum layer-2 solution backed by Paradigm, has announced the launch of its native token, BLAST. The Blast Foundation will oversee the governance and social media of the project. An airdrop of 17% of the total supply, amounting to 17 billion tokens, was distributed to early adopters on June 26 at 10AM EST, with allocations of 7% each to gold and points holders, and 3% to Blur stakers. The total supply of BLAST is 100 billion tokens, with 50% allocated to the community. The tokenomics also include a 4-year lockup for core contributors and a vesting schedule for top wallets. Trading for BLAST has commenced on multiple platforms including KuCoin, Bybit, and Bitfinex. The initial trading price of BLAST is around $0.02, giving it a fully diluted valuation (FDV) of approximately $2 billion.