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**Token Economics of Blast Revealed: A Comprehensive Overview**
On June 26, 2024, Blast announced its token economics, detailing its plans for the community and stakeholders. Blast boasts a total supply of 100 billion tokens, with 50% earmarked for community airdrops, starting with an initial allocation of 17 billion tokens.
**1. Introduction to Blast**
Blast operates as a Layer 2 blockchain, facilitating asset bridging for users to earn rewards. It incentivizes participation with points, coins, airdrops, and yields, fostering engagement among users and developers. Within the Blast ecosystem, various mining opportunities exist, including Ambient, Juice, Synfutures, nftperp, and Munchables.
Developed by Pacman and supported by Paradigm, Blast aims to pioneer native yields for Layer 2. When tokens are deposited into L2, they are effectively held in smart contracts corresponding between L1 and L2. These idle tokens can earn yields through stETH and DAI conversions from ETH and stored stablecoins, leveraging staking rewards and treasury yields.
**2. Blast Token Economic Model**
– **Community – 50,000,000,000 (50%)**
50% of Blast’s total supply is reserved for the community, distributed through incentive activities, with 100% directly benefiting community members. These allocations will unlock linearly over three years from the Token Generation Event (TGE), as per a schedule determined by the Blast Foundation.
– **Core Contributors – 25,480,226,842 (25.5%)**
Tokens allocated to core contributors undergo a 4-year lockup period, with 25% unlocking one year after TGE and the remainder unlocking linearly over the subsequent three years.
– **Investors – 16,519,773,158 (16.5%)**
Similarly, tokens allocated to investors are subject to a 4-year lockup, with 25% unlocking one year post-TGE and the remainder unlocking monthly over the following three years.
– **Blast Foundation – 8,000,000,000 (8%)**
The Foundation’s allocation is reserved for critical infrastructure and further ecosystem development, unlocking linearly over four years from the TGE.
**3. Phase One Airdrop Details: 17,000,000,000 (17%)**
– **Blast Points – 7,000,000,000 (7%)**
Users connecting ETH or USDB to Blast contribute initial liquidity to the Blast ecosystem, earning Blast Points during the first phase, constituting 7% of Blast’s total supply.
– **Blast Gold – 7,000,000,000 (7%)**
Users contributing to the success of Dapps receive Blast Gold, also constituting 7% of Blast’s total supply.
– **Attribution**
The top 0.1% of users (approximately 1,000 wallets) will gradually receive a portion of the airdrop over six months, contingent on monthly points thresholds during the first phase.
– **Blur Foundation – 3,000,000,000 (3%)**
The Blur Foundation receives 3% of Blast’s total supply for distribution within the Blur community for retrospection and future airdrops.
**4. Current Development and Future Prospects of Blast**
According to Token Terminal data, Blast’s L2 network has seen a twofold increase in monthly active users and USDB stablecoin supply over the past 90 days. Growth is driven by platforms like Blur, Thruster, Spacebar, and YOLO Games. Blast’s USDB stablecoin ranks fifth globally in trading volume, predominantly from on-chain DEX transactions. Coingecko’s latest data values USDC at approximately $405 million with a circulating supply of 406,046,631 tokens.
Blast focuses intensely on crypto users and builders, combining them to create an explosively growing ecosystem. Its unique offerings include native modules for builders, such as local yields and gas income sharing. Through integrations with Lido and MakerDAO, Blast offers 4% and 5% annualized yields for ETH and stablecoins, respectively, from any on-chain position. This positions Blast with a higher native dapp percentage than any EVM chain, including L1 and L2.
Blast has mastered the complexities of cryptocurrency and seeks to explore its new forms. It particularly suits SocialFi projects aiming to tokenize relationships between content creators and their audiences, evident in recent projects like Fantasy Top and EarlyFans emerging on Blast.
Blast stands poised to become an indispensable hub in the DeFi landscape.