Blast, the layer two blockchain scaling solution for Ethereum, just announced the winners of the Big Bang competition.
The Big Bang Competition is a competition held by the blockchain to screen projects that want to start building on Blast.
More than 3,000 teams submitted their projects but there were only 47 winners of the competition, showing how tough the competition was and how detailed the screening process was.
47 Winners of The Big Bang Competition
It was announced that there were 47 winners out of the 3,000+ teams that competed with the winners showcasing projects from different categories in crypto.
The list of winners can be accessed here where it shows the 47 winners of the competitions and the runner ups while also showing honorable mentions regarding crypto projects that seemed impressive but still not better than the winners.
There are seven categories of projects and decentralized applications that were selected as winners.
The first one is a spot DEX which is a decentralized exchange that is focused on only providing a platform for Blast native users to transact spot crypto assets on the blockchain.
In this category there were five projects that were selected as winners, some of them are still in the development stage.
One of the projects that stood out is Ambient Finance, which is a DEX that has been running for quite a while with more than $500 Million in trading volume and $1.17 Million generated in fees.
The next category is the perpetual DEX, which is a decentralized exchange that is focused on providing a platform for Blast native users to transact perpetual contracts on the blockchain, such as futures perpetual contracts.
In this category there were six projects that were selected as winners, most of them are still in the development stage.
One of the DApp that stands out is 100x which is a pre-launched DApp for people to trade perpetual contracts on-chain with leverage up to 100x.
Another category to complete the DeFi or Decentralized Finance ecosystem of Blast is the lending category which selects eight projects as winners regarding lending.
Aside from that there were six projects selected as winners in the GambleFi category which are platforms used for gambling on-chain and 10 NFT or Gaming projects with different types of mechanisms.
Projects regarding infrastructures are also prominent in the Blast ecosystem, where 10 projects were selected to be winners and represent the category.
Last is one SocialFi project called Fantasy and a Music Project called Thunder to complete the whole Blast ecosystem.
Note that other projects that did not win the competition can still build on Blast, but there are some advantages to winning the competition.
First of all, winners are guided by the Blast core team to be able to create projects faster on the blockchain.
Winners are also rewarded with an airdrop of the Blast utility token as funding to boost the growth of the project.
But, new information has spread that all the participants will receive airdrops as well but not as much as the winners.
On top of that, for non-winners, the airdrop will only be claimable if the project decided to continue and build their project on Blast and launch it, so if the team decided to call it quits, then they will not be able to claim their airdrop.
Rug Pulls Drags the Sentiment Down
The news of this competition should be positive for Blast, as there will be more projects running on the ecosystem, hence increasing the transaction volume of the native token and the blockchain itself.
Sadly, after the announcement of the Big Bang competition winners, there was an incident that dragged the whole sentiment of the chain down to be seen as negative by the community.
One of the projects on the Blast ecosystem experienced a rug pull, which means the developers took off with user’s money, leaving some users empty handed after using the platform.
The rug pull was detected by many on-chain analytical platforms, including PeckShieldAlert which warned the market that a project called RiskonBlast has just rug pulled its investors and users.
RiskonBlast was a GambleFi project, which is a platform that is used to gamble on the Blast blockchain for users that want to gamble the outcome of events such as sports.
Sadly they rug pulled their investors and community, taking 420 ETH worth approximately $1.3 Million and transferring them into different accounts and wallets to make it untraceable.
While rug pulling all of their stakeholders, RiskonBlast also deleted all of their social media accounts, websites, platforms, and any other information available online, making it seem that they disappear from the internet.
To clarify, RiskonBlast is not one of the winners of The Big Bang Competition as it is an older project that has been running for quite some time on The Blast Blockchain.
Right now Investors are furious but still hopeful that the winners of The Big Bang Competition could recover the good reputation of Blast.
Blast Airdrop and Mainnet Invite Code
Even though there was a rug pull, just like any other blockchains, it did not stop Blast from developing their ecosystem and continuing on their launch.
Blast has just launched their mainnet where now users can use the blockchain and potentially earn rewards.
The rewards will come from the 50% allocation for aidrops as shown in the image above where 50% goes to the Big Bang Winners and 50% is allocated towards public airdrops for ecosystem users.
This is a great opportunity to earn free crypto on Blast, especially with a lot of new projects built on it with their own potential airdrop.
Blast did not specify on how users can be eligible for the airdrop, but it is good to prepare by using their ecosystem to earn potential points, one of the ways is by using their bridge.
Also you can use the mainnet through other protocols, but you have to have an invitation code to be able to access it.
Here are some invitation codes you can use: SFA3G, 4HSJG, 934HD, DB4HD, ZFG4J, 4YSDH, DHJ60, 8FHW2.
Conclusion
Overall the Blast ecosystem seems to have a promising future ahead of them with the narrative of layer two Blockchain still being popular and the airdrop season still being relevant.
To maximize on their launch users need to interact with the network to potentially earn airdrops of Blast’s Token or potentially other tokens in the ecosystem.
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