The Blast developers announced the creation of the Blast Foundation, in order to support the network's transition to a decentralized governance structure.
This June 26, the developers of Ethereum's Layer2 network, Blast, are expected to expand the details of the new organization and the vision that the project is adopting to guarantee its future in the Web3 ecosystem.
However, its developers anticipated the creation of the Blast Foundation, an organization that was born with the objective of supporting the transition of the blockchain network towards a decentralized governance structure, with which the control and management of the cryptocurrency will be transferred to the crypto community of users. construction and development of the L2 network.
The Blast developers made a publication through the social platform X, on June 25, to introduce the new organization, the Blast Foundation. According to the publication, this organization was created to support the community to achieve the new expectations embodied in the “Blast Vision”, a manifesto that will be shared publicly today, June 26.
The Blast Foundation will also take control of the Blast website and its official X account, which until now had been managed by Arcade Research.
The Blast Foundation is created within hours of the airdrop
Blast is just hours away from launching its BLAST token and handing out 17 billion tokens to users in an initial airdrop scheduled for later this week. According to the L2 project roadmap, BLAST will serve as the network's governance token and will be used to control key parameters of its development, as well as to align the incentives of participants and users.
The total supply of BLAST, according to the project roadmap, will be 100 billion units and 50% of these tokens will be distributed to the Blast community, which has been the key to the success of the blockchain project.
The 6th largest DeFi blockchain
Blast has risen in the crypto ecosystem as one of the most innovative and fastest growing blockchain networks today. In less than 3 months, Blast achieved its first milestone, when its dapps reached a TVL (Total Value Locked) of $2.000 billion.
Currently, according to data from the DeFi platform Llama, Blast is the 6th largest blockchain of the DeFi ecosystem, in terms of TVL. But, in addition to the value deposited in its smart contracts, Blast has also seen a significant increase in its user base, which highlights how this second-layer blockchain network has been conquering the crypto market with its high performance and reliability.
The growing adoption of Blast has boosted activity within the chain, which exceeds 1 million transactions processed and registers more than 140 thousand active addresses per day.
Blast was developed by Tieshun Roquerre, the blockchain visionary known as “Pacman,” who is also behind the NFT marketplace Blur. This blockchain introduces several novel features that improve performance opportunities for users. For example, Blast has its own stablecoin, called USDB, which is currently positioned as the 5th most used in the crypto industry worldwide.
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