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Blast Airdrop Falls Short of Expectations
Big Brother Maji Takes Action Again
Ethereum Layer 2 Network Blast finally distributed token airdrops yesterday. However, many major holders criticized the disproportionate investment they made in the network compared to the airdrop. Blast has become another project condemned due to its airdrop activities, following in the footsteps of Zksync. Christian, co-founder of NDV, expressed on social media that he had invested assets worth $50 million in the Blast network but only received a $100,000 token airdrop during the TGE.
Christian accused Blast of being a scam project, and its founder, Pacman, as a “Rug Offender.”
On the other hand, Arthur, founder of Defiance Capital, also pointed out that BLAST’s opening price performance was not as expected. The fully diluted valuation (FDV) of many L2 projects at their opening is usually around 5 billion MAG, but BLAST only reached slightly over 2 billion MAG.
However, not everyone has given up on supporting Blast. According to information shared by on-chain analyst Yu Yin, Big Brother Maji, Huang Licheng, has been continuously buying BLAST since its launch last night. So far, he has spent 1,491 ETH to purchase 172 million BLAST tokens, with an average purchase price of approximately $0.027, making him the largest individual holder of BLAST.
It is worth mentioning that this is not the first time Big Brother Maji has acquired a large number of chips for a single project. Previously, he also bought a significant amount of SocialFi project FRIEND tokens on-chain and currently holds a total of 9.4 million FRIEND tokens, becoming the largest individual holder as well. However, the current price of FRIEND tokens is only $0.57, while Big Brother Maji’s holding cost is as high as $1.5, resulting in a floating loss of approximately $8.74 million.