Welcome to Blast Beat.

If you’re reading this, know that it’s not too late to farm some Blast Gold…if there’s a Season 2. But it’s over for Season 1!

Nothing in the newsletter or on my Twitter account should be considered financial advice. This is my own opinion and I’m just writing about what I see out there. You are responsible for what you do with your money and crypto.

We’ll run this every day until TGE on June 26th.

Notable Numbers

Current Gold Estimate: $7.71

Remaining Gold Waves: 0

Jackpots Distributed: 23

Days Until TGE: 1 day

Blast Beat | June 25

This is it.

After months of farming, speculating, making money, losing money, rushing to new dapps, and overall just trying figure this all out together…

The $BLAST token officially hits wallets tomorrow at 10am EST. You can click on the tweet below to read the full announcement thread.

The Tokenomics

Earlier today, the Blast account released its full recap of “Q2”, a.k.a. season 1 (we think), and with it the tokenomics for $Blast.

TLDR:

• 50% of tokens to community, 17% of which drops tomorrow to community (chart below). The rest will unlock over 3 years via various incentive programs, and likely a Season 2 of farming (maybe).

• 25.5% to core contributors, which I’m assuming means the team and people who worked on Blast. This fully unlocks after 4 years, with the first 25% unlocking after the first year.

• 16.5% to investors, as in everyone who invested in Blast prior to any of this. Same schedule as the contributors.

• 8% to Blast Foundation, to be used towards infrastructure. This will likely be the governance portion, where the community puts forward proposals for how to grow Blast and uses the token as payment for the projects that are approved.

Tomorrow’s Airdrop

The news also included the plan for tomorrow’s TGE, and how much each type of asset will earn in $Blast tokens.

TLDR:

• 7% to Blast Points, which accumulated from dapps and from just holding ETH or USDB in your wallet.

• 7% to Blast Gold, which we all fought for over the last 4 months.

• 3% to the Blur Foundation, to be split up amongst farmers and $blur stakers from the last several months, and will also be used towards future distribution.

• Vesting tokens, but only for the top 0.1% of users (roughly the top 1000 wallets). Their tokens will release over a 6-month period and will require certain activities to be completed.

I expect some type of fancy presentation and claim on the blast website when this all goes down in the morning.

Community Reactions

Lots of hot takes and excitement here from the big brains and money movers.

Overall, everyone seems quite bullish on the 17% community allocation and general schedule of the token.

The Blur Farming Dilemma

This is a pretty significant wrinkle in the plan, with some calling it a partial rug on Pacman’s behalf.

Basically, there were two ways to farm the $Blast token on the Blur marketplace: 1) wash trading NFTs, 2) staking the $Blur token for an unknown reward (I’m in the second group).

These were originally thought to have equal weight upon TGE, but now 1.5% is apparently being allocated to stakers, while only 0.5% is going to farmers.

And regardless, many feel this is too little reward for propping up Pacman’s past venture.

What Happens Next 🔮

That’s the big question.

Obviously the main metric everyone will focus on is price.

More specifically, price over the first few days, and wether farmers have been totally wrecked by their efforts or not.

Blast has promised that more details will be revealed tomorrow alongside the airdrop, so we will wait and see.

In the meantime, here’s my very specific prediction and timeline of events going forward on Blast that I totally just made up:

1. Blast announces Season 2 of farming, which lasts until October 31, 2024, and will distribute an additional 15% of tokens through its course.

2. All dapps must re-apply for $Blast token farmingallocation. Some get banned entirely for the total bullshit they put us through (i.e. District One).

3. New token earning methods announced. Besides just using dapps, some new form of farming is introduced. Pacman gives us a totally new game. This includes the 3.5m gold jackpot that’s currently just sitting there.

4. $Blast surges on the first day, hitting the equivalent of $6/gold at its peak. It maintains this price for roughly a week.

5. $Blast slowly trickles down through July & August. With the long S2 farming timeline, many take profits and rotate them into farming new things like On Chain Summer on Base.

6. $Blast hits a low at the end of September. I’d say roughly $2.50/gold equivalent. Down 60% from ATH. FUDers rejoice.

7. Meanwhile, dapps release their native tokens. The big ones like Cambria, Fantasy Top, Thruster, etc. Their long-time users feast.

8. $Blast rises towards end of S2. Seems counter-intuitive, but Blast comes back near its ATH right as S2 wraps up, and could hit a new ATH by end of year (around $10/gold equivalent). A hopeful take, but that’s right when the next bull market will be hitting its stride.

From there I’m not sure.Pacman will continue to find ways to make Blast relevant and keep us on the dapps.

My Final Gold Tally

I started to take things a bit more seriously right around the time I started this newsletter. And writing this daily edition forced me to really dig deep into these dapps, which in turn made the newsletter far more effective and made me a better farmer. So thank you for reading!

I finished with a really awesome, but also somewhat modest, 2,855 gold.

I hope you all finished with a shit ton of gold as well.

This was by far the most fun and encompassing thing I’ve done in crypto since the 2021 breakout of NFTs, and I really hope it continues into this coming post-election bull run.

Is this the final edition of the newsletter?

We’ll find out tomorrow.

Thanks everyone for reading! Feel free to drop questions and feedback in the comments or on twitter.