Two days after launch explosionEthereum layer 2 network From the founder of the dominant NFT marketplace blurHundreds of millions of dollars have flowed into newly created protocols existing on the network, and rumors are growing about several other projects appearing in the ecosystem.
The network already boasts a total value locked (TVL) of $2.4 billion, according to the Blast website. Many users flocked to Blast to take advantage of future airdrops that could reward early adopters of applications and protocols within the network.
Already, clear winners have emerged, with some DeFi protocols receiving significant investment and other games and tokens receiving significant attention on social media. Here’s a quick look at some of the projects that dominated Blast in its early days.
orbital protocol
With a TVL of over $200 million, Orbit is currently the most popular DeFi protocol built within the Blast ecosystem. The protocol allows users to lend and borrow assets while within Blast, incentivizing users by allowing them to earn liquid rewards in the process. It also boasts its own native token, ORBIT.
space bar
Spacebar, which calls itself an “on-chain playground,” is a gamified platform that encourages users to interact and engage with each other to earn different types of points. Users link their profile picture (PFP) NFTs to the ecosystem to create avatars and mint new NFTs within the spacebar game world.
Spacebar also encourages users to earn additional rewards by staking ETH within the platform. The main attraction of this project appears to be the promise of upcoming airdrops to early and active participants.
pack finance
Pac Finance, the first hybrid lending protocol launched on Blast, facilitates both peer-to-peer and peer-to-peer lending on the Blast network. The project includes features such as self-repaying loans, one-click leveraged trading, and instant lending loop. The platform is currently promising early adopters a quantity of Blast’s yet-to-be-released native tokens, which it received after winning the blockchain’s “Big Bang” app development competition.
packmoon
PacMoon, the self-described “community meme coin” of the Blast ecosystem, is a decidedly independent token project that made a splash this week. According to the project team, the PAC token has not been released yet and will be released via airdrop at some point “soon.” But at the same time, a post about the coin discovered by the PacMoon team sparked a frenzy on Twitter, where it is said to be rewarded with PAC allocations.
zero land
Zerolend, another lending marketplace on Blast, encourages users to borrow or lend a variety of tokens in return for receiving rewards in the protocol’s native tokens: ETH, BLAST, and ZERO. Unlike Orbit Protocol and Pac Finance, Zerolend already exists on two other blockchains: Manta and zkSync Era.
District One
DistrictOne is a gamified incentive group messaging platform built on Blast. By liking messages and engaging with posts, DistrictOne users can collectively earn rewards and compete for jackpots. A key element of the ecosystem is “gems” that reward users for high participation and earn them a spot in weekly and ongoing airdrops.
juice finance
Juice Finance is a protocol that enables leveraged cross-margin trading. Through Juice, users can farm and spot trade on other Blast protocols, and in the process, lenders and borrowers can earn various rewards. Holders of certain Ethereum NFT projects, including Pudgy Penguins, Wassies, CryptoPunks, Azuki, DeGods, and RektGuy, will be able to automatically claim the platform’s native Juice points. At the time of writing, Juice’s TVL stands at nearly $35 million.
Editor: Andrew Hayward
Stay up to date with cryptocurrency news and receive daily updates in your inbox.
