Blast tokens and NFTs can now be entered to win Blast Gold through its new Jackpot mechanism.
Tokens within the Blast ecosystem are surging after the Ethereum Layer 2 introduced its latest function: Jackpot.
Following the announcement Blast tokens instantly ran with PacMoon
rising by over 30%, Juice Finance by roughly 40%, and notable NFTs akin to Blastopians elevated by almost 50%. Ether and Bitcoin have remained principally flat in that point.
Regardless of the rise in costs throughout the ecosystem, Blast’s complete TVL has solely risen by 1.7% over the past 7 days, in line with DeFiLlama.
Blast Gold
Customers can now submit their Blast tokens and NFTs right into a jackpot for the possibility to win a prize pool of Blast Gold, which is akin to factors. Gold is one in all two strategies to farm the Blast airdrop, with 50% of the airdrop to be awarded to Blast factors, and 50% to Blast Gold.
Blast factors can solely be earned by holding ETH or USDB, and previous to the addition of the jackpot, Blast Gold might solely be earned through ecosystem dApps. With the jackpot system, it may now be farmed by holding different belongings within the ecosystem akin to NFTs and memecoins. The extra incentives to carry these tokens has possible led to the worth surge.
New Experiment
The transfer is one more experiment within the airdrops and factors house, at a time when the dynamic has come beneath hearth. Token distribution occasions by main tasks together with EigenLayer, Kamino Finance and Pal.Tech have spurred group backlash. Web3 tasks are nonetheless making an attempt to determine find out how to steadiness incentives in a method that they’ll promote exercise, whereas attracting long-term customers, and in some instances, additionally complying with unsure laws.
Blast’s mainnet went dwell in February this yr. The Paradigm-backed L2 has confirmed to be controversial because it launched with a one-way deposit contract in November 2023. Nonetheless, its complete TVL has constantly elevated since its launch to its present $1.5 billion, the fourth largest Layer 2, in line with L2Beat.
In Blast’s new jackpot design, customers are required to submit their belongings right into a non-custodial deck that may maintain as much as eight completely different tokens or NFTs. On the conclusion of each block there’s a small probability to hit the jackpot, and a random Blast asset will likely be chosen because the winner. The “gold” will then be distributed to the deck of the asset proprietor and distributed on a proportion foundation.
Customers have hit the jackpot twice because it started on Friday, with awards distributed to the PacMoon and Fantasy.Prime communities. The worth of Blast Gold is speculative, however is at present equal to roughly 37,000 Blast factors, which is topic to vary based mostly on the availability of factors and “gold.”
