Blast Phase 2 Will Split 10 Billion Tokens Between ‘Points’ and ‘Gold’

Blast has allocated 10 billion tokens for its Phase 2 rewards to incentivize the use and development of mobile Dapps.

Ethereum layer 2 network Blast launched its native token last week, which debuted with a fully diluted valuation (FDV) of $2 billion at the time. The price of BLAST rallied 40% at launch, but declined in the hours that followed, and was still one of the more successful airdrops of late, distributing 17% of the 100 billion token supply to its community.

Users that bridged ETH or USDB to Blast earned Blast Points during Phase 1, while users that contributed to decentralized applications (Dapps) earned Blast Gold. Both Gold and Points users were rewarded with a 7% token allocation, while Blur, another protocol founded by Blast founder Tieshun ‘Pacman’ Roquerre, was allocated 3% of the supply. 

While Phase 1 considers all user activity on Blast from the time of its launch in November 2023 until the airdrop, Phase 2 will take in account activity until June 2025, and distribute rewards to users who contribute to the ecosystem during that time.

According to a July 2 blog post from Blast, the team has earmarked 10 billion BLAST tokens to be split evenly between Points and Gold users.

“The primary purpose of Phase 2 is to support the development of mobile Dapps and incentivize users to those Dapps via the Blast App,” said Blast.

Points can be accrued based on users ETH, WETH, USDB, and BLAST balances, with a vesting threshold of 80% of the rolling average of the vested user’s Points in Phase 1. Meanwhile, Gold rewards can be earned based on Dapps traction on the Blast mainnet and from competitions to incubate new Dapps.

Phase 2 will also feature ways to accelerate rewards like Golden Tickets, Jackpots and Multipliers. 

“The primary purpose of Phase 2 is to support the development of the Fullstack Chain,” said the Blast team. 

“The Blast Foundation expects that 12 months will be required to accomplish that goal. However, if progress proceeds faster than anticipated, the Blast Foundation is open to reducing the timeline in the future.”

At the time of writing, the total value locked (TVL) on Blast was just over $1.34 billion, according to data from DeFiLlama. The price of BLAST was down 10% over the last 24 hours to $0.019, according to data from CoinMarketCap.