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etlxRDhE7vFS5Auh  $2qSButvD6UZp2NQX7XQPFv080   0.34%
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DeFi


BLUR AIRDROPPED $100M WORTH OF TOKENS. NEW BLOCKCHAIN BLAST PROMISES EVEN MORE
TO BLUR AIRDROP RECIPIENTS

Airdrop hopefuls are parking Blur tokens on Blast. Credit: Rita Fortunato/DL
News

HomeDeFiBlnerLEN9Gjaoph2ur airdropped $100m worth of tokens. New blockchain
Blast promises even more to Blur airdrop recipients
Author
OslnV069plR5RQmWato Avan-Nomayo
Tihz2GynBMYHa9fYcOm Craig
November 22, 2023 at 8:42 PM
Share

What you'll learn
 * NFyl5exwqMuSUT traders are depositing their Blur airdrops on Blast.
 * BlmrEkZnXiWyeVMawast is an upcoming layer 2 developed by Blur creator Tieshun
   Roquerre.
 * Blx3TTTD04n2Dast promises token rewards to early adopters when the chain goes
   live next May.

RejKo9xQHikgpgmIUlzcipients of Blur’s latest airdrop have begun positioning
themselves for additional rewards from Blast, a buzzy new layer 2 blockchain
developed by Blur creator Tieshun Roquerre, known online as Pacman.

OnqvkoPyZHXk6fYGZCv1tL Monday, NFT marketplace Blur distributed 300 million BLUR
tokens currently worth $107 million in its latest airdrop.

IntYyCkVufCygpGbstead of letting airdrop recipients claim tokens directly to
their wallets as in Blur’s first airdrop, the claims process for the latest
airdrop, by default, sends BLUR token rewards to a separate smart contract.

Frl9uyyJrrWVPCfXy2Z5ONom there, recipients can choose to withdraw their BLUR
tokens, or leave them locked up to accumulate points, which, according to the
Blur site, will convert to a new token for the Blast blockchain when it launches
next May.

Now read
Two-day-old Blast draws $135m as investors seek yields and airdrops
LebkoBPwWFEtqiG2eVhw0Tss than 48 hours after its announcement, the new
blockchain project Blast has won over investors...LekjfkBHao2sxx3Dquss than 48
hours after its announcement, the new blockchain project Blast has won over
investors lured by the promise what it...


SotouUihTrPX411idlJNW far, the Blast points contract contains $138 million worth
of BLUR tokens. These tokens come from the claims process for the Blur airdrop,
as well as other BLUR token holders who have deposited their tokens via the Blur
site.


BLTS1DCJCC7ZPSZPNACL5AST POINTS INCENTIVE

MamhVF1vVLp10Ta9ny of the biggest Blur airdrop recipients have chosen to leave
some or all of their BLUR token rewards on the Blast contract to earn Blast
points.

NFlyq9IZuzb92zZT trader Hanwe Chang, the largest recipient who received $8
million in tokens, deposited $7.4 million into the Blast points contract,
on-chain data shows. Another major NFT trader Jeffrey Huang, more commonly known
online as Machi Big Brother, has also deposited all of his $2 million airdrop.

BlkpO9f9NVl7MjfmWur airdrop recipients have an incentive to leave these tokens
on the Blast points contract. This is because early BLUR token holders on the
Blast contract will receive more Blast points rewards per hour until November
26. After this date, point rewards will only increase by 50% every month for
those who do not withdraw their tokens.

Ons4mTyFmmj1x-chain data shows more than 85% of the BLUR token airdrop has been
claimed.

Now read
Bored Ape fans blame Blur for falling NFT prices
BobUCu1pMuUIPred Ape Yacht Club, the top-traded NFT collection, is trapped in a
brutal bear market, and holders...BozDX5z1OY5R7ck1f8EheaAred Ape Yacht Club, the
top-traded NFT collection, is trapped in a brutal bear market, and holders are
blaming the recently...


LajqOKAL0fy4Ii1Geunched in October 2022, Blur is the largest NFT marketplace by
trading volume.

BlalZC9oFkUvo3PIPXfwLvur has distributed two airdrops since its launch — one for
early users that concluded when BLUR token launched in February, and another for
those who have traded NFTs on the marketplace since then.

ThkjbX36PGfIE1ze Blast points scheme is similar to how Blur determined how many
tokens users received in its previous airdrops.

ThmCOlvBQDFBspMTQGcjVose who traded NFTs on Blur received points, with more
points translating to a bigger airdrop. But as Blur didn’t reveal the conversion
rate between points and tokens, it left users in the dark about how many tokens
they would ultimately receive.


$8AJPAQ9UDFC4CR7 MILLION IN DEPOSITS

BlnugNnDsgymgMraBf6mur airdrop recipients aren’t the only ones being drawn in by
Blast’s expected reward largesse. Crypto investors have begun to pile into the
project despite the fact that it is not yet live.

WhgBmyB5ZWGUEBDy9s1Cile Blast plans to be an Ethereum layer 2, it currently
exists as a smart contract on Ethereum that only supports token deposits and not
withdrawals.

Now read
Coinbase’s Base had 24 hours of meme coin frenzy, rug pulls and $58m in deposits
ColWvdCDowB7bOinbase’s Base project became the scene of a multi-million meme
coin drama this weekend.Cob4At9GO5n9kCp6Rjmd7bEinbase’s Base project became the
scene of a multi-million meme coin drama this weekend.


ItdlwSqZu7gV38I0pJqj8 has attracted over $87 million in deposits from crypto
users since Tuesday. Such is the extent of the investment inflow that Blast has
become the 12th-biggest layer 2 in terms of locked-in investment, according to
crypto data analysis platform 21.co.

InxT5kijzUdGGXONmvestors throwing their crypto into a layer 2 chain before its
launch is not a new phenomenon. Similar situations have occurred on other layer
2 chains as well, including Coinbase’s Base chain which saw $58 million in
deposits before the blockchain’s official August launch.


NAYA1HKNNVYVVV7UE6QPG3QTIVE YIELDS ON DEPOSITS

Bly6ReOFZ3i0UxsXNNTast claims to separate itself from other layer 2 blockchains
by promising to offer native yield on Ether and stablecoin deposits.

Itlf7RuH60ffE480l6orrS plans to automatically convert Ether deposits on the
blockchain to Lido’s stETH — a so-called liquid staking token that automatically
accrues yield from Ether staking. Lido is the largest Ethereum staking protocol
with over $18 billion worth of user deposits.

EtfBuTLhibNbBCA5Ther staking isn’t the only planned yield source on Blast. The
blockchain will also convert stablecoin deposits into MakerDAO’s Dai stablecoin
and deposit them into the protocol’s Dai savings rate contract to earn 5%
annually. MakerDAO uses the coupons from its US Treasury holdings to pay the 5%
yield.

Osl2IJnHSE7lqSyWato Avan-Nomayo iiVPHDJJDgMhxZQrxeRs our Nigeria-based DeFi
correspondent. He covers DeFi and tech. To share tips or information about
stories, please contact him at osiMkfDFgNu4JR5GO3SQf2ato@dlnews.com.

Comments, queries, feedback?



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