Morning Minute | Blast Announces Final $150M Distribution

Morning Minute | Blast Announces Final $150M Distribution

TylerD's Market Summary

Today's Morning Minute is brought to you by Wasabi, THE leading NFT leverage protocol.

Did you see NFT news and immediately want to go long Bored Apes or Mutants? Or did you want to short them? 

How about wanting to long $PAC after the recent breakout (with leverage)? 

Either way, Wasabi has you covered.

With Wasabi's Perps markets, savvy traders can now win in any market conditions and earn points and Blast GOLD while doing so. 

It's a huge unlock.

They recently crossed $100M in cumulative trading volume on the platform, so traders are figuring it out.

And vaulters keep winning, with $PAC Wasabi vaulters hitting 2 of the last 4 Jackpots with over 1.3M in Blast Gold ($13M) given out.

So why not join them and start trading today, and earn those rewards!

๐Ÿ’ฐ Blast Gold Distribution 3 Is Out

Dilution, dilution, dilution.

That's been the primary fear in the Blast ecosystem after the introduction of the hot new Jackpot game.

But after last night's news, those dilution fears should go away.

What Happened?

Last night, the Blast team announced Blast Gold Distribution 3 for Dapps.

TLDR:

  • 15M Gold to be distributed (in line w/ expectation)
  • Spot Dex, SocialFi and GameFi got the most
  • Fantasy Top got a whopping 2.1M, nearly 3x their last allocation
  • District One got 1.4M, nearly double their last allo

Most importantly NFT Stat's estimate of $10.70 per Gold should hold pending no more unexpected dilution (i.e. more daily Jackpot rewards) as he accurately predicted 15M Gold to be distributed in this allocation.

Farmer Concerns Alleviated?

Blast farmers were up in arms on the timeline the past 2 days after Blast Jackpot 4 hit and gave nearly 1M Blast Gold to $PAC holders.

Their complaints - memecoins were being rewarded significantly more than Dapps.

Well now the leading protocols got a major final allocation of Gold which should help those concerns to a degree.

Defi protocols like Thruster (2.6M), Juice Finance (865k) and Hyperlock (577k) got significant Gold rewards.

This should quiet the pitchforks for a few days - or until another major jackpot hits.

Market Impact

The clear winner here is Fantasy Top.

They got nearly 3x the Gold of Distribution 2 with the most hyped app on Blast.

The Fantasy Top card floor reflects this, jumping to 0.012 overnight.

If Heroes 2 are announced today along with the next tournament, expect a manic weekend of trading.

D1 is another big winner with 1.4M more Blast Gold to give out and many expecting its OLE token to hit a Blast Jackpot (though it's unclear D1 popularity is really spreading beyond farmers).

Perhaps the biggest winner?

The broader farmer base.

Pending no more surprise dilution, all of the Gold numbers are out there.

Every move can be calculated as we move towards a potential May TGE event.

Let the final march begin.

๐Ÿšš What else is happening in NFTs?

Here is the list of other notable headlines from the day in NFTs:

  • BTC led NFT trading volume with $6.9M on the day (-10%); ETH was next with $5.6M (-10%) and then Solana with $4.2M (+30%)
  • NodeMonkes led BTC trading volume with 13 BTC volume and rebounded slightly to 0.29 BTC; most leaders chopped on the day
  • OMB even at 0.398 BTC; Quantum Cats +5% at 0.35, and Bitcoin Puppets even at 0.2
  • The PUPS Runes debuted at $195M mc after beginning its migration (currently existing as BRC-20, SPL-20, Rune Pups & Runes)
  • ETH NFT leaders mostly chopped; BAYC +2% to 14.5 ETH; MAYC -6% to 2.57; Pudgy -1% to 11.3
  • Wolf Game led top movers, jumping 40% to 0.1 ETH after its announcement of a move to Blast
  • Solana NFTs were red on the day; Mad Lads -9% to 64 SOL, Tensorians even at 12; DeGods -2% to 43, and y00ts -6% to 10
  • Blast NFTs saw a mix of red and green, Blastopians +12% to 0.36, Apollo -12% to 0.06, Plutocats -2% to 2.22

๐Ÿ’ฐ Token, Airdrop & Protocol Tracker

Here's a rundown of major token or airdrop news from the day:

  • Blast memecoins pumped on Thursday following PAC's Jackpot 4 win, with $BAJA leading the way up 46%
  • The Juice team airdropped $1 of $JUICE tokens to all Wasabi $PAC vaulters to help with distribution ($JUICE +28%)
  • EIGEN token claims will go live today for ETH restakers
  • Dymention stakers have a new airdrop claim from Mande Network
  • Friend Tech's new Casual price curve has led to an explosion in new "meme clubs" with notable leaders Ansem's Beginning Club and Hog McCrankerson ($FRIEND +35% to $2.53)
  • One of Blast's leading perp dexes Bloom was exploited with $600k taken but white hats worked to try to recoup funds 
  • Whales Market added $MOCA to its pre-market listings
  • CyberKongz released a Manifesto for its Decentralized Rune (now at $42M mc)

๐ŸŒŽ Around Crypto and Web3

A few other Crypto and Web3 headlines that caught my eye:

  • Crypto majors are very green this morning; BTC +3.3% at $63,000; ETH +1.9% at $3,030, SOL +8% at $153
  • Memecoin majors were up even more with DOGE +3%, WIF +12%, PEPE +8%, BONK +6%; MICHI, EPIK, CHUCK outperform
  • Solana briefly flipped Ethereum in 24 hour DEX volume
  • Franklin Templeton DA dropped a "Base Season" 2-pager covering SocialFi and memecoins on Base, name dropping Friend Tech along the way
  • A new token launch game "rug dot fun" launched with 10 coins competing in each game where only the #1 and #10 coin "win" and the rest "rug

๐Ÿš€ Memecoin Movers 

  • $MICHI (+150%, $218M market cap, Solana)
  • $LOS (+270%, $16M market cap, Solana)
  • $EPIK (+100%, $23M market cap, Solana)
  • $PEANIE (+120%, $15M market cap, Solana)
  • $BAJA (+43%, $4M market cap, Blast)

๐Ÿ“ˆ NFT Floor Price Increase (ETH)

  • Wolf Game (40%, 0.1 ETH Floor)
  • Volted Dragons (38%, 0.12 ETH)
  • CyberV (38%, 0.36 ETH)
  • Swords of Grandia (30%, 0.3 ETH)
  • alignDRAW (24%, 2.1 ETH)

๐Ÿ—“ Upcoming NFT Mints and Reveals

Today is a busier day of mints and events.

OSF's Blast City is the highlight on Blast as he grows his holder base and increases chances at a Jackpot win.

The $EIGEN token claim for ETH restakers is another highlight, going live this afternoon.

See the full list and dive in for more details with Swizzy's daily mint monitor

  • Pradise Tycoon (9:00 a.m. ET)
  • Monster Rooms (10:30 a.m. ET)
  • OSF Blast City (12:00 p.m. ET)
  • ruiners (12:00 p.m. ET)
  • $EIGEN claim (1:00 p.m. ET)

Enjoy this write-up and/or want to sponsor the Morning Minute? Follow along with me on Twitter @tyler_did_it or reach out via email to tyler.warner@luckytrader.com.

Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice. AI may have assisted in the creation of this content.