Upbit, the cryptocurrency exchange based in South Korea, has officially announced the launch of Blast, a new digital currency. The exchange will support trading pairs for Blast against the Korean won (KRW), Bitcoin (BTC), and Tether (USDT). Trading of Blast’s governance token, known as BLAST, is expected to commence on Wednesday.
Upbit is recognized as one of the fully licensed cryptocurrency exchanges in South Korea and boasts a total trading volume of $1.25 billion, accounting for 48% of the market share, according to CMC.
The distribution of Blast tokens will take place on June 25, with developers and users receiving Blast Gold and Blast Points, respectively. Initially scheduled for May, the airdrop was postponed due to a token generation event (TGE) that occurred last month. As a result, users will receive a higher allocation in the airdrop.
To be eligible for the airdrop calculations, users must have logged into their Blast dashboard using their Ethereum account (EOA) at least once. This can be achieved by accepting an invitation or linking their EOA to an existing account, as clarified by Blast.
Blast, which operates on the Ethereum layer 2 blockchain network, achieved record-breaking numbers in terms of daily transactions and active users last week. The total value locked on the Blast platform currently stands at $2.09 billion, compared to $2.3 billion on June 6, according to DefiLlama data.
In other news, CoinShares reported a significant profit of 116% from the sale of FTX claims.
