that much Ethereum ETH
-1.04%
Layer 2 network Blast launched its mainnet on Thursday.
The platform’s assets are approximately 469,000 ETH, or $77.3 million. 
USDC
-0.04%
67.1 million 
USDT
+0.04%
148,000 stETH and 24.7 million stETH 
die
+0.00%
, According to the Dune Analytics dashboard. Now with the live mainnet launch, users can withdraw their funds.
Created by Tieshun Roquerre, founder of NFT marketplace Blur, Blast aims to provide a native yield model for ether and stablecoins, offering 4% interest for the former and 5% for the latter. According to the platform’s website, early access to the platform has attracted over 180,000 community members and over $2.3 billion in total value locked in (TVL).
Ahead of the mainnet launch, users mentioned something unofficial. leg Its emergence on the platform is similar to what happened before Coinbase launched its layer 2 base in early August 2023.
“Blast has amassed over $2 billion in TVL even before its mainnet launch, placing it just behind L2 giants like Arbitrum One and OP Mainnet,” said Arnold Toh, blockchain research analyst at The Block. “It’s safe to say that we should expect some level of enthusiasm and speculation around the official launch, let alone the eventual airdrop.”
creation of explosion
Early access to Blast will begin in late November 2023, allowing users to connect their assets to other networks and earn through bridging and Blast Points, rewards for referring users to the platform.
“Blast is built on the principle that markets move toward efficiency. More specifically, liquidity flows where it can yield the highest returns,” the platform says. said on social media at the time. “At Blast, your balance is automatically added up and you receive Blast rewards.”
Some users have claimed that the platform’s model is similar to a Ponzi scheme, especially since individuals cannot withdraw their rewards until the platform’s mainnet is launched. Roquerre, also known as Pacman, denied the claims. state The returns are “not unsustainable” and come from liquid staking protocol Lido and DeFi protocol MakerDAO.
explosion occurs 20 million dollars November 2023, led by Paradigm and Standard Crypto, venture companies specializing in cryptocurrency. The Blast Points redemption feature will tentatively begin on May 24th.
Disclaimer: Larry Cermak, CEO of The Block, is an angel investor in Blast.
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