Airdrops have been criticized, but Blast wants to be the Apple system in Layer2

Golden Finance Jessy

The Blast airdrop for multiple PUA users has finally ended. The airdrop cannot satisfy everyone. This Blast airdrop is sunny and bright. Anyone who participates in the interaction can basically get the airdrop, which is equivalent to zero-cost, but the money is really small, even less than 1U. The big users who received the most airdrops have about 23 billion points, which can get about 50 million tokens. According to the initial issue price of $0.03, it is about $1.5 million.

For this sunny airdrop method, the community has also criticized a lot, especially its "killing big users" behavior has caused strong dissatisfaction among big users. X user @Christianeth said that he deposited 50 million US dollars on Blast, but only received an airdrop of 100,000 US dollars. Some people also complained that Blast points were seriously inflated.

Including Blast, Ethereum Layer2 projects that have airdropped in recent months have been more or less complained by the Mao Mao Party. The reason for everyone's curse is simple, the returns they expected were not achieved. Indeed, the era of big Mao Mao during the ARB period is unlikely to reappear in the Ethereum ecosystem.

The landing of Blast's airdrop also marks the change of the airdrop era. After the coin is issued, what should be paid more attention to is the development of Blast itself. Is the founder Tie Shun really a liar as everyone says? Is Blast really just a Ponzi scheme?

The airdrop problem is actually not big

In this round of airdrops, 17% of the total BLAST supply (17 billion) will be allocated to users. The 17% consists of: 7% Blast points, 7% Blast gold points, and 3% Blur Foundation

The specific details are as follows:

1. Blast points: 7,000,000,000 (7%). Users who connect ETH or USDB to Blast guide the initial liquidity of the Blast ecosystem and earn Blast points in the first phase. These users will be rewarded with 7% of the total BLAST supply.

2. Blast gold points: 7,000,000,000 (7%). Users who contribute to the success of Dapps will earn Blast gold points and will be rewarded with 7% of the total BLAST supply.

3. Vesting: The top 0.1% of users (approximately 1,000 wallets) will vest a portion of the airdrop linearly over 6 months. Vesting is subject to reaching a monthly points threshold based on Phase 1 activities.

4. Blur Foundation: 3,000,000,000 (3%). The Blur Foundation will receive 3% of the total BLAST supply to be distributed to the Blur community for retroactive and future airdrops.

Currently, the top few personal airdrops are as follows:

From the above ranking, we can see that the real big score holders can actually get more tokens and returns, although the behavior of killing big holders also exists. For example, user X @Christianeth said that he deposited 50 million US dollars on Blast and only received an airdrop of 100,000 US dollars.

Since the launch of the Blast mainnet in March, there have been many criticisms about Blast airdrops. At that time, when the Blast mainnet was launched, users who had pledged Ethereum on the testnet found that they needed to transfer their assets and points obtained from staking to the mainnet by themselves. To do this, they needed to burn a large amount of Gas, which even exceeded 50U at the highest. Blast was also questioned for its low contract security. Before the mainnet was launched, it was just a smart contract. The contract stated that after the user's money was deposited, it would be deposited into a multi-signature wallet, and after the money was received, it would be deposited into Lido to start financial management.

However, these harmless problems did not stop Blast's development. This year, the airdrop finally landed. And it was thanks to the airdrop method that Blast's marketing was successful.

The biggest difference between Blast and the previous Layer2 airdrop method is that it provides a platform for staking and earning interest. When users deposit mainstream assets into Blast, they not only have the expectation of airdrops, but also put the assets deposited by users on the Blast chain into platforms such as LDO for staking and earning interest.

When users stake tokens into Blast, they will be involved in other staking agreements according to the type of tokens. For example, if you deposit DAI, Blast will put it in MakerDAO, and if you deposit ETH, it will be put in Lido. Blast's native stablecoin USDB will settle the income and pass it back to the user.

Blast uses the most straightforward airdrop incentives to attract users to enter the market and increase the amount of locked positions on it. Moreover, the incentive method of airdrop is a simple and crude "three-tiered pyramid scheme model", which has been proven to be effective many times. At present, Blast's TVL ranks third in Ethereum Layer2, after ARB and Base.

From this point of view, this influence is undoubtedly very effective. Although Blast has been criticized by the money-grabbing party, airdrops are a win-win situation. Not only Blast's airdrops, from the airdrops in recent months, the money-grabbing party should recognize that the era of zero-cost or low-cost money-grabbing through a large number of accounts is over in the short term, and now it is the amount of funds and the depth of participation that count.

On the surface, it is Stake Layer2, but it wants to build a full-stack chain

Blast positions itself as a new narrative of "Stake Layer2" that is different from other Layer2s, but in fact, it is to use Blast users to carry out Ethereum staking mining and contract mining. This is the same as users depositing money into platforms such as Lido, but because they deposit money through Blast as an intermediary, they can earn airdrop points.

In addition to this airdrop marketing method to create a super high TVL, Blast's technical implementation itself is also innovative in Ethereum Layer2.

While many technical teams are constantly optimizing their own chains, Tieshun is actually using OP Stack to quickly build the Blast chain, and then laying out the full-stack chain on this basis. The Blast Foundation announced that it will do this in the second phase, and said that it will work with the community to develop desktop and mobile wallets designed for crypto-native users, aiming to provide a better experience than Metamask and accelerate user adoption through incentives. It can be seen that Blast is not satisfied with just being an L2 public chain, but hopes to be a full-stack chain that can be fully integrated from chain to wallet to cex.

One ​​commonality among the current public chains is that they all have similar end-to-end user experience. Each chain focuses on optimizing the chain's technology itself, while relying on third parties to complete the rest of the stack. This approach is actually similar to Android, where they optimize the operating system and rely on third parties to do the rest.

So far, the Android approach has been effective for public chains, but it has also led to a fragmented and friction-filled ecosystem.

Unlike Android, Apple takes a full-stack approach. They built everything from software to hardware. And optimized throughout the stack. This approach has greatly accelerated the evolution to mobile and formed the most valuable mobile ecosystem in the world.

It seems that what Blast wants to do next is what Apple is doing.

It seems that Tieshun is actually a very ambitious developer. Although the price of his NFT market project Blur has been falling, perhaps he can pay more attention to the innovation of the industry he is working on and whether it has really landed.