Blast Launches the L2 Native Yield Wave

Blast is the first L2 blockchain network that provides the possibility of passive income exclusively for funds in Layer 2 accounts. When users deposit funds into Blast, Blast will immediately lock the corresponding ETH on the Layer 1 network for network native staking, and automatically return the obtained ETH staking income to users on Blast. In addition to supporting natively staked ETH, Blast also provides opportunities for passive income on stablecoins.

This "barbarian" style of play is enough to shake the current status of traditional Layer 2. In the past, Layer 2 focused on improving performance, expanding RaaS, and multi-chain storytelling. At the beginning of 22, we were still discussing whether Blockchian’s future would be multi-chain or ETH + Layer 2.

Nowadays, Cosmos has retreated to the second line, and has been robbed of attention by Layer 2 such as Optimism/Arbitrum/Polygon/zkSync. Funds and developers have also voted with their feet and invested in and settled in Layer 2. But now Blast has taken a different approach, which may be a new paradigm for the development of new Layer 2.

Therefore, compared with the usual Layer 2 solutions, Blast, as an Optimistic Rollup, continues the operating habits of EVM users while opening up new income opportunities for users. Since its launch, Blast has gathered more than 1.3b TVL in just 2 months, breaking the fastest record of L2 and setting off a wave of other L2 Native Yields.

BIG BANG！

Blast’s Big Bang Competition

Big Bang is a month-long "arms race" hosted by Blast from January 17th to February 17th. The entire competition is divided into three stages:

  • 1. Intent registration

  • 2. Project Submission

  • 3. Selection of winners

At the same time, Big Bang provides 8 tracks for participating Dapps to choose from. Each project needs to choose one track when submitting the DEMO and demonstration video, and will also compete with projects on the same track.

Big Bang Opportunities

Blast provides generous rewards to dapps participating in the BigBang competition to encourage project parties to deploy and operate on Blast.

First, Blast will release ETH locked liquidity in February. Dapps deployed on Blast will have the opportunity to share the released 1.4b TVL and 104k users who participated in the lock-up. This is a good cold start opportunity for any project.

Secondly, project parties participating in Big Bang will receive one-to-one personalized guidance from Investors.

Finally, Blast has reserved 50% of the total AirDrop supply to incentivize developers. Except for less than 10% of which will be distributed to BigBang Winners, more than 90% of the remaining will be distributed to dapps on the Blast mainnet. This will It is the largest airdrop in history for developers.

In addition, users will not receive any rewards for interacting on Blast’s testnet, but they may have the opportunity to receive interaction incentives after the mainnet is launched.

Blast Ecosystem Overview

In less than two days since Blast announced Big Bang, more than 60 projects have announced cooperation with Blast and will build on Blast. Here are 7 projects we have selected that are worth tracking from the early stage:

  • PumpX: PumpX is a multichain consumer liquidity protocol, which is to organize idle funds scattered in different places of the blockchain in a decentralized manner, provide financial support for consumers' asset transactions on the chain, and support the transaction depth and activity of assets on the chain. The PumpX protocol provides project-level lending functions in the checkout page for project parties, decentralized wallets and trading markets, and imports consumer-level liquidity collected on Blast. PumpX is also one of Binance's most valuable projects (MVB), invested by top institutions such as IOSG, HashKey, and Distributed Capital. Some smart contracts of PumpX have been deployed to the Blast test network for debugging. PumpX has announced the subsequent linkage with Blast's airdrop, which deserves continued attention.

  • Pyth Network: Pyth is dedicated to providing real-time market data to financial dApps on the blockchain. This means that whether it is cryptocurrencies, stocks, ETFs, forex pairs or commodities, Python can provide users with more than 380 low-latency price feeds.

  • Quick Node: QuickNode is a blockchain development platform that provides reliable infrastructure, managed RPC services, elastic APIs, and powerful analytics needed for successful expansion for projects of all sizes. With globally distributed multi-chain infrastructure and automatic expansion, QuickNode can support the entire growth process of applications from MVP to mass adoption throughout the Web3 ecosystem.

  • Thruster: Thruster is a Blast native DEX that benefits traders, LPs, and developers by leveraging Blast native yields, custom liquidity solutions, and a simpler UI/UX.

  • The Graph: The Graph is called "decentralized Google" by the crypto world because it uses indexing and querying methods similar to Google, but provides more open and Accessible ways to query and leverage data. Developers can create and query their own data subgraphs (Subgraph) through The Graph, making the entire Ethereum ecosystem more open and interconnected.

  • Ambient: Ambient is a decentralized trading protocol that allows two-way AMMs that combine centralized and ambient constant product liquidity on any pair of blockchain assets. Ambient runs the entire DEX within a single smart contract, where a single AMM pool is a lightweight data structure rather than an independent smart contract. This design makes Ambient the most efficient Ethereum-based DEX currently.

  • RedStone: RedStone is an oracle that provides frequently updated, reliable and diverse data sources for DApps and smart contracts on multiple L1 and L2.

Other early-stage projects to keep an eye on

  • Spot Dex direction:

Monoswap, a V3 liquidity hub with native yield.

IgniteFi, Dex based on community ecology.

RingProtocol, a Dex with breakthrough features.

MidNight, a decentralized exchange based on the Ve33 model with Blast native income.

StarSwap, multi-chain Dex.

Blasterfi can get up to 50 times the profit and 2 times the airdrop from Blast.

Roguex, an innovative Dex where spot and futures can be traded in the same pool.

Tntswap is a Dex that integrates Tokens, NFTs, games, and DAOs.

HyperBlastDex, an AMM model-based Dex with native income.

Blasted, Dex with benefits.

In addition, several Dex such as BlastSwap, Interport Finance, and BrewLabs have announced that they will be built based on Blast.

  • Futures Dex direction:

NFTPerp, provides contract transactions for NFT.

EasyX, without KYC, provides trading services with up to 100 times leverage.

CyberFinance, a derivatives protocol.

Particle, provides license-free leverage trading services.

Prism, a new trading dimension.

  • Infrastructure direction:

RilleProtocol, an innovative DeFi risk quantification/transfer solution.

MoonBlast, an EVM-based L2 LaunchPad.

BlastDomains and BNS, providing Blast domain name services.

BlastOff, LaunchPad with native earnings.

CSRfi, an infrastructure protocol that promotes sustainable gains.

  • Lending direction:

MIM Spell, a stablecoin lending protocol. Natrium Protocol, optimizing lending returns through flexible trading pairs. Wand, a liquidation-free asset structuring protocol. HadouKen, a comprehensive lending protocol. Zest, a stablecoin lending protocol. Maneki, a permissionless lending protocol.

  • NFT Direction:

Wassies，BlastPenguines，BlastoPians，

50x50,Defusion,DegenDNA,CSPEPE。

  • Game direction:

Kangiten，Vroom.bet，Blastoise，

BAC Games，Risk，Metaverse Headquarters。

In this new Layer 2 battle, the success of the Big Bang competition announced a new starting point for the Blast ecosystem. In just three days, Blast has attracted 60 projects from various circuits, injecting vigorous vitality into the ecosystem. However, we believe that this is just the prologue, and more high-quality projects will join in the future to jointly build a more prosperous and diverse Blast Layer 2 ecosystem.

With the integration of more projects, the Blast ecosystem will be further strengthened and consolidated. The future has arrived, and the footsteps of the bull market have already sounded. The takeoff guide for the Blast Layer 2 ecosystem has been drawn up. Let us welcome this bull market full of hope and opportunities together!