In short, the cross-chain ETH is staked, and then the income is distributed to everyone. It can be understood that certain points will be given on the basis of Lido. The future gameplay should focus on strong social interaction, and may also be similar to the Blur model.
The main focus is native yield, which can provide native returns.
Blast: Blur's only Ethereum L2 with native returns on ETH and stablecoins just received $20 million from Paradigm and Standard Crypto
Blast's revenue comes from Ethereum staking and the RWA protocol. The revenue from these decentralized protocols is automatically returned to Blast users, and the default interest rate for other L2s is 0%. On Blast, the interest rate for Ethereum is 4% and stablecoins are 5%.
Logic: When users deposit ETH or stablecoins across chains to Blast, they will be deposited into on-chain treasury bill protocols (T-Bill) such as MakerDAO, and the proceeds will be transferred back to Blast users through Blast's automatic base stablecoin USDB.
In short, the cross-chain ETH is staked, and then the income is distributed to everyone. A certain amount of points will be given on the basis of Lido, so the future gameplay may focus on strong social interaction, and may also be similar to the Blur model.
Compared to other L2 decentralized sequencers that have not made any moves, Blast will eventually keep the gas fees for itself. Blast directly returns the income to the developer through the program. The developer can keep this income or use it to subsidize the gas fees for users.
The model of using ETH to pledge POS is somewhat similar to the savings protocol Anchor of the former star project Luna. In essence, they are both staking income of blockchain POS. bETH is ETH in the staking state, which can obtain an annualized ETH income of about 5%, and at the same time, it can also obtain interest income paid by the borrower.
In the future, the concept of real return/native return will probably be mentioned more and more. Yesterday, I wrote a tweet [DeFi Evaluation Method ②: Analyzing Liquidity Protocol] in which I mentioned the concept of national public chain.
In the future, the concepts of RWA on-chain treasury bonds and on-chain native risk-free interest rates may be proposed more frequently, so that the construction of the on-chain native bond market will be more colorful.
