Research Summary
The report discusses the upcoming launch of the Blast TGE, the potential impact of airdrop farming on the market, and the growth of Blast as a chain. It also highlights the performance of DeFi protocols on Blast and speculates on the future of the Blast token.
Key Takeaways
Blast TGE Launch
- Blast TGE Launch: The report announces the upcoming launch of the Blast TGE on June 27th. This event is the culmination of over six months of work by Blur stakers and Blast gold farmers.
Airdrop Farming and Market Impact
- Airdrop Farming and Market Impact: The report discusses the concept of ‘airdrop fractal’, a pattern observed in high-profile airdrop tokens. It suggests that as the market becomes more efficient, these ‘free’ trades get arbitraged away, leading to a cycle of airdrop farming.
Growth of Blast as a Chain
- Growth of Blast as a Chain: Despite many attributing Blast’s success to farming, the report notes that Blast is now the 6th largest chain by TVL, with over $2 billion. This puts it ahead of Base, Polygon, Optimism, and Avalanche.
Performance of DeFi Protocols on Blast
- Performance of DeFi Protocols on Blast: The report highlights the performance of top DeFi protocols on Blast, with Thruster and Juice amassing over $500 million and $470 million in TVL, respectively. It also notes the rise of underdogs like Wasabi, which has expanded its offerings since launching on Blast.
Future of Blast Token
- Future of Blast Token: The report speculates on the future of the Blast token, suggesting that it may be towards the end of the airdrop farming cycle. It also hints at the possibility of token vesting, based on potential testing contracts found by nyax.
Actionable Insights
- Monitor the Blast TGE Launch: Stakeholders should keep a close eye on the Blast TGE launch to assess its impact on the market and the performance of the Blast token.
- Understand the Impact of Airdrop Farming: Understanding the concept of ‘airdrop fractal’ and its impact on the market can provide valuable insights for future trading strategies.
- Track the Growth of Blast as a Chain: The growth of Blast as a chain, particularly its position relative to other chains, is a key indicator of its potential future performance.
- Assess the Performance of DeFi Protocols on Blast: The performance of DeFi protocols on Blast can provide insights into the overall health and potential of the Blast ecosystem.
- Speculate on the Future of Blast Token: The future of the Blast token, including potential token vesting, is a key area of interest for stakeholders and investors.
