Check out how much on average users were able to gain by participating in the Blast opportunity!
Blast
Expired
Progress mission: 0 of 13
Updated:
Expired
Rewards
Reward Results
$6 $3,500
Details
Minimal cost
~$500
Time required
30 min.
Category
Mainnet
Rating
5/10
Risk
Medium
Blast Airdrop Results
- Airdrop Distribution: Blast conducted its airdrop on June 26, 2024, distributing 17% of the total token supply to early supporters of its deposit campaign. This significant event aimed to reward the users and incentivize further participation in the network.
- Token Performance: The $BLAST token debuted at an initial price of $0.03, achieving a fully diluted market cap of $3 billion. However, shortly after the airdrop announcement, many users sold their tokens, causing the price to drop from $0.03 to $0.018. This rapid decline led to concerns among investors, with many expressing disappointment over the airdrop's immediate impact on the market.
- Market Reaction: The swift sell-off following the airdrop announcement highlighted the volatility of the market. The significant price drop from $0.03 to $0.02 raised questions about the airdrop's effectiveness and the overall market strategy, leading to a wave of dissatisfaction among the investor community.
- Claim Statistics: On average, users claimed 16,016.75 $BLAST tokens, though the median claim amount was much lower at 313.17 $BLAST tokens. In total, over 500,000 users participated in the airdrop, showcasing a broad base of participants.
- Vesting Details: For the top 0.1% of users, approximately 1,000 wallets, part of the airdrop will be vested linearly over a six-month period. This vesting process is contingent on meeting a monthly Points threshold based on Phase 1 activity, ensuring continued engagement and participation in the network.
In summary, while the Blast airdrop aimed to reward early supporters and stimulate market activity, the immediate sell-off and subsequent price drop underscored the challenges of managing large-scale token distributions in a volatile market.
Pros
Confirmed Token and Airdrop
The token and airdrop are confirmed and promoted on the website.
Short Waiting Time
The airdrop date (May 24) is on the publicly available roadmap.
Strong Backing
Backed by tier-1 fund Paradigm and led by creators of Blur.
Novice-Friendly
One participation option is a simple fund deposit for future rewards.
Cons
Requires Significant Investment
A substantial fund deposit is needed for efficient participation.
Huge Competition
Limited Funding
Only $20 million raised, which might be insufficient for the tight roadmap.
No Product
No developed product, just a deposit address.
Risk of Hacking and Loss
Funds locked for 3 months, risking potential loss.
How to participate?
- Minimum Deposit for Airdrop: To be eligible for airdrop, the minimum deposit should be above $500. However, to receive point multiplier benefits, it should be above 1 ETH.
- Two Participation Options: There are two ways to participate: depositing ETH or stablecoins through the Blast deposit, and staking BLUR tokens. Both options are equally important, and it's advisable to participate in both if possible.
- Simultaneous Participation for Experienced Users: Experienced users have the option to participate in both opportunities at the same time. If you stake BLUR tokens, you can hedge your position on platforms like Hyperliquid or Aevo.
- Confirmed Airdrop: The main benefit of this opportunity is a confirmed airdrop, with an expected token launch around May 2024. This means you'll receive tokens as a reward for your participation.