17% of the native token supply of layer 2 blockchain Blast has been given to people who staked ether (ETH) earlier this year in order to farm points. According to Ambient Finance, the token had a $3 billion fully diluted market cap upon launch, with a launch price of about $0.03.
After the initiative launched a one-way token bridge last year that let customers deposit money but not withdraw it until the blockchain went online, it came under close scrutiny. Between November and March, Blast drew deposits totaling $2.3 billion. The blockchain is presently the second largest tier 2 network after Arbitrum, with a total value locked of $1.62 billion.