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Blast L2 Launches Foundation Ahead of Major Airdrop

Published: Jun 25, 2024 | Last Updated: Jun 25, 2024
Howard Kane

The new Blast Foundation aims to support community and governance as Ethereum's Layer 2 network prepares for a significant token airdrop on June 26.

Ethereum's Blast L2 is making significant strides in its development by introducing the Blast Foundation. This new entity is set to play a pivotal role in supporting the community and realizing the 'Blast Vision.' The announcement comes just ahead of a major airdrop scheduled for June 26.

Transition of Control

The creation of the Blast Foundation signifies a shift in control from Arcade Research to the new foundation. This transition includes the management of the Blast Twitter account, website, and protocol governance. By transferring these responsibilities, the foundation aims to ensure a more decentralized and community-driven approach to managing the Blast ecosystem.

Role of the Blast Foundation

The Blast Foundation is expected to be a cornerstone in the ecosystem. Its responsibilities may include managing grants, distributing token incentives, and guiding the community towards achieving the Blast Vision. This vision will be unveiled on June 26, providing a roadmap for the future operations of the Blast network.

Upcoming Airdrop

As part of its strategy to enhance decentralized governance, Blast has scheduled a token airdrop for this week. This airdrop is designed to foster a robust ecosystem by rewarding early users and developers. Half of the airdrop tokens will be allocated to developers, while the rest will be distributed based on wallet activities of early users. This initiative is expected to incentivize participation and support within the community.

Blast's Rapid Growth

Blast has experienced rapid growth, with its total value locked (TVL) exceeding $2 billion. This impressive milestone places Blast among the top 10 platforms by daily fee generation. The foundation's creation and the upcoming airdrop are seen as crucial steps in maintaining this momentum and ensuring the continued success of the Blast network.

In summary, the introduction of the Blast Foundation and the upcoming airdrop are significant developments for the Ethereum Layer 2 network. These initiatives are designed to support the community, enhance decentralized governance, and drive the network towards achieving its long-term vision.

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