Blast, an Ethereum Layer 2 network created by the founder of NFT marketplace Blur, has announced details of its second-phase rewards for users.
The project announced in a blog post that the second phase of user rewards (similar to the first round) will be split into Blast Points and Blast Gold, with 10 billion tokens allocated. Blast has allocated 17 billion tokens to the first phase of rewards, which began last week.
“The primary purpose of Phase 2 is to support the development of mobile dapps and incentivize users to use those dapps through the Blast app,” Blast said in the post.
Half of the Phase 2 rewards, or 5 billion Blast tokens, will be set aside for Blast Points. According to the project, users will be able to earn these points based on their ETH, WETH, USDB, and BLAST balances.
The remaining half of the rewards will be allocated to Blast Gold, the project said. Dapps will receive Gold based on their performance on the Blast mainnet and in future competitions.
The project stated that “Phase 2 airdrop is expected to last for 12 months” because “the primary purpose of Phase 2 is to support full-stack chain development” and that it takes time to build the initial infrastructure and support dapps building new applications on top of that infrastructure.
According to The Block’s price page, the Blast token has dropped 11% in the last 24 hours to $0.019, with a circulating supply of 17.4 billion.
Developed by Blur founder Tieshun Roquerre, Blast launched in early access mode in November 2023. According to data from DefiLlama, the total value locked in Blast reached $1.36 billion at the time of publication, up from $2.3 billion recorded on June 6.
Disclaimer: Larry Cermak, CEO of The Block, is an angel investor in Blast.
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