Blast is a blockchain project built on Optimistic Rollup technology on Ethereum. Blast's main goal is to generate profits for users holding ETH and stablecoins through staking and profit-sharing mechanisms.
Launching on November 21, 2023, Blast plans to introduce its token and distribute airdrops in the future. Early adoption gives users the opportunity to receive rewards from projects backed by Paradigm and Standard Crypto.
Blast Crypto Surgery ($BLAST)
This project designs the Blast Point system (Blast Community Airdrop program) to bring more interesting programs to users in the future. Airdrop schedule:
Additionally, Blast launched mainnet on February 29, opening a new era for the project and user community. Blast managed to reach $2 billion TVL on February 27 with 157,638 users actively engaged in accumulating profits and Blast Points.
Testnet Blast has been active since January, running alongside the BIG BANG Blast competition. More than 3,000 development teams compete and build products on the network.
Blast Advantage
In contrast to current layer 2 solutions that almost never pay interest to users holding ETH and stablecoins, Blast offers real interest (native yield) from layer 1 Ethereum. The project team states that Blast is the only layer 2 Ethereum that increases interest for ETH and stablecoins.
Blast Crypto Surgery ($BLAST)
When users deposit ETH and stablecoins (USDC, USDT, and DAI) into Blast, the project uses those funds for staking and generating profits. The funds generated are then distributed to users. For ETH, Blast directly stakes on Lido. For stablecoins, the project lends them on US dollar-backed bond protocols such as MakerDAO.
When users deposit stablecoins on the platform, they receive USDB stablecoins that automatically rebasing and profit sharing according to their USDB holdings. The expected interest rate in the initial stage is 4% for ETH and 5% for stablecoins. According to data recorded by DeBank, just one day after launch, Blast received more than $100 million, mostly in the form of ETH and DAI.
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