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Blast drops ‘L2’ from X username, reduces withdrawal time from 14 to 7 days

July 16, 2024 Coin Telegraph

blast

After monitoring withdrawals for four months, the developers concluded that longer withdrawal times were no longer necessary.

Ethereum layer-2 Blast network has cut its withdrawal times in half, from 14 days to 7 days, according to a July 16 X post from the network’s development team. The network previously required longer withdrawal times “in order to provide a buffer for Lido withdrawals.” The team claims that this longer wait time is no longer necessary.

The team posted the message from a new X account, @blast, which replaces the @blast_l2 account that it previously used. The previous account announced the new account’s existence in its profile.

In an associated thread, the team stated that Blast core contributors have been monitoring withdrawals for the past four months and have now concluded that “a smaller buffer would be sufficient to handle nearly all withdrawal activity.” It cautioned that some withdrawals may still take longer than seven days, although this should happen only “in rare circumstances.” Meanwhile, deposits from Ethereum to Blast will still only take “minutes” to process, the post stated.

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Blast airdrop to launch June 26, distributing 17% of supply to early users

June 25, 2024 Coin Telegraph

Airdrop

The Blast team announced that its token airdrop would commence on June 26 and that users who bridged assets to the network or used its apps would receive tokens.

Ethereum layer-2 Blast network will launch an airdrop for its early adopters on June 26, according to a June 25 social media post from the team. Seventeen percent of the total supply will be released in the airdrop, 7% of which will go to users who bridged either Ether (ETH) or US Dollar Blast (USDB) to the network. Another 7% will go to those who “contributed to the success of DApps [decentralized applications]” on Blast and 3% will go to the Blur Foundation for future airdrops to its community.

An accompanying report stated that wallets ranked in the top 1,000 in terms of points will “vest part of their airdrop linearly” for six months, implying that these accounts will not be able to sell all of their tokens for another six months.

The Blur Foundation claimed that it is going to distribute its share of the token rewards to traders and holders who have used or will use its platform. One percent of the total supply will go to traders and holders in Season 3, 0.5% will be reserved for traders and holders in Season 4, and another 0.5% will be reserved for future use. Blur did not state how the remaining 0.5% will be utilized

blast