Blast is an L2 network created by the founder of the NFT marketplace Blur and launched on February 29 of this year. Blast uses optimistic-rollup transaction processing solution for Ethereum scalability

In the first 100 days of its existence, the total value locked (TVL) in applications built on Blast reached $2.9 billion. No other L1/L2 network was able to achieve this figure in a similar period

Blast also claims to be the first and only L2 network to offer native yields for ETH and stablecoins, as well as a gas fee subsidy for dApps.

How it works?

Native ETH yield: when a user sends their ETH to an address on the Blast network, the coins are automatically deposited into the Lido protocol, and you can earn 3-4% per annum without much experience with staking protocols (but the withdrawal time is far from 1-5 days, like in Lido)

That is, Blast simplifies the staking process by independently processing transactions on behalf of users

Profitability with stablecoins USDT, USDC and DAI works approximately the same way: Users sending these stablecoins to Blast receive USDB. The yield comes from the MakerDAO on-chain treasury bill protocol, and the USDB amount is automatically “capitalized”, that is, if in a day you earn 10 DAI, the USDB amount is rebased against the accumulated

USDB can be exchanged for USDT/USDC/DAI when returning to Ethereum (withdrawals from Blast take 14 days, and during these two weeks you will not receive a cent. I think you can guess how the Blast team makes money 😉)

Gas revenue distribution:

Other L2s keep gas fee revenue for themselves (as there is no base fee burning mechanism like there is on the Ethereum mainnet)

Blast returns the net income from the collected gas back to the dApps developers. They can keep the income for themselves or use it to cover user costs

How could you get an airdrop?

By transferring ETH or stablecoins to the Blast network, you could earn points that accumulated over time as long as you held the coins on Blast.

It was also possible to earn “Blast Gold” points for various active actions in dApps. Points were awarded by the apps themselves

What is the BLAST token used for?

As with other L2s where the underlying token is intended to control the future of the network through voting, Blast is no exception.

But since Blast is not an ordinary L2 network, you can vote not only for the allocation of amounts for development, updates and changes to tokenomics, but also for the mechanics of built-in profitability and changes in its suppliers (Blast plans to move from MakerDAO to its own protocol)

BLAST trading has already started on many top exchanges. With an initial supply of 17 billion tokens (17% of the total supply), the market capitalization reached $390 million, and the token took 147th place in this indicator