Blast, an Ethereum Layer 2 network, recently announced a foundation to manage the protocol and transition governance towards a more decentralized model. The foundation’s goal is to help the community achieve the ‘Blast Vision’ and increase decentralized decision-making and community participation. As part of this transition, social media pages and the website of Blast, previously managed by Arcade Research, will now be under foundation control.
The upcoming token airdrop, scheduled for this week, has garnered significant interest within the crypto community. Blast plans to categorize tokens for the airdrop, with theories suggesting that Blur farmers may be among the beneficiaries. The airdrop will consist of 50% Blast Gold for developers and 50% Blast Points for early users. Users can earn points in their wallets based on their balances, encouraging more engagement with the platform. Dapps are also encouraged to reward their users with Blast Gold to promote ecosystem growth.
To be eligible for the airdrop, users must hold Points or Gold in Externally Owned Accounts (EOAs) and sign in to the Blast dashboard at least once using those accounts. Points and Gold held in smart contracts will not qualify, and users with Privy wallets need to complete the linking process for eligibility. Blast places a strong emphasis on maintaining a secure ecosystem and will review any suspicious or insider distributions by Dapps. Offenders will be blacklisted from future airdrops to ensure a fair and trustworthy distribution system.
Blast has gained widespread adoption in the DeFi space and currently ranks sixth in the DeFi network rankings with a TVL of $2.085 billion, according to DeFiLlama. The network’s potential to become a leading solution in the Ethereum Layer 2 ecosystem is evident. A recent upgrade enabled support for Binary Large Objects (blobs), enhancing data storage and transaction processing capabilities. This upgrade is expected to further boost user appeal and adoption of the Blast network.
In conclusion, Blast’s establishment of a foundation to manage the protocol and transition towards decentralized governance showcases its commitment to community involvement and decentralized decision-making. The upcoming token airdrop has generated excitement within the crypto community, with details of categorization and eligibility requirements outlined for users. Blast’s position in the DeFi network rankings and recent upgrade to enhance platform capabilities highlight its potential for growth and adoption in the Ethereum Layer 2 ecosystem.
