Project support and token airdrops, analysis of Blast BIG BANG competition rules

Original - Odaily

Author - Nan Zhi

According to official news, Layer 2 network Blast announced that its test network has been officially launched and will start the BIG BANG competition from January 17. Participating project parties will receive ecological support and promotion, Blast project token airdrops and Blast investor relations establishment , the competition will last until February 17th.

project data

DefiLlama shows that Blast’s TVL exceeded US$100 million on the second day after it was launched, and its TVL exceeded US$1 billion 34 days later. The current TVL has reached US$1.36 billion. According to L2BEAT data, this TVL ranks third in L2,Second only to Arbitrum and OP Mainnet, it has surpassed established L2s such as zkSync and Starknet.

In terms of users, the number of participating addresses reached 24,587 on the first day of launch, and as of the time of publication, more than 100,000 addresses have participated in Blast.

Blast stated that the winning projects in the BIG BANG competition will be promoted to all Blast users when the mainnet is launched. Whether it is a late-stage project or a just-born idea, the BIG BANG competition is the best way to interact with the Blast community. .(Odaily note: According to the project plan when Blast was first launched, it will be launched on the mainnet on February 24, 2024.)

Blast airdrop

Blast stated that 50% of the airdrop amount will be distributed to BIG BANG contest winners, and the other 50% will be distributed to interactive users. Blast further stated: “Use Blast airdrops to stimulate the growth of your DApp on the Blast mainnet and gain an advantage in the competition.” (Original text: Use the Blast Airdrop to incentivize growth for your dapp on the Blast Mainnet and gain an edge over competitors.).

This is the first time Blast has mentioned specific data related to airdrops. From its announcement copy, it can be concluded that part of the decision-making power of the selection may be made by interactive users, and participating projects can promise user incentives during the competition and publish them on the main network. Implemented offline (but whether it is mandatory to implement as promised is unknown).

Previously, Arbitrum conducted a large number of project development incentive token airdrops, which significantly promoted the protocol and ecological data, and users also obtained token benefits. Therefore, users can continue to pay attention to the participating projects and maintain interaction in subsequent activities, because it is expected that there will not be too many winning projects, or there will be excess returns.

For example, the leveraged trading protocol Particle promised to issue 100% of developer airdrops to community users; the trading Bot Tornado Blast announced that it would select testnet users and issue rewards to X platform interactive users when the mainnet goes online.

Participating project categories

This BIG BANG will set up eight groups, which will distinguish early or mature projects. The groups are:

• Perpetual Contract DEX (Perp DEX)

• Spot exchanges: e.g. AMM or order book DEX

• loan agreement

• NFTs and Gaming: NFT Collections, NFTfi, Infrastructure, and Blockchain Gaming

• SocialFi: The next generation of social products

• GambleFi: Random gambling game on the chain

• Infrastructure: TG robot, oracle, RPC, multi-signature wallet, account abstraction, analysis tools

• Others: Especially projects that leverage Blast’s native revenue in unique ways, or Gas Fees revenue sharing

The judging will be based on conceptual value, design and development, and Blast nativeness (having Blast features that cannot be implemented on other chains), but it is not disclosed how many winning projects will be set under each category.

X platform account@BlastdappsSome early ecological projects have been released, and users can stay tuned and choose the best to interact with.