Blast announced the hiring of a Senior DevOps Engineer and a Senior Protocol Engineer to ensure a timely mainnet launch in February 2024.
Amid growing demand for floating staking on the Ethereum (ETH) network from institutional investors, Blast Protocol, a Layer 2 (L2) project backed by Paradigm Venture Capital and Standard Crypto, is a new player in the Total Value Locked (TVL) and cryptocurrency sectors. A record was set. Community members.
According to the latest market data provided via DeBank, there are approximately 308,114 Ethers worth approximately $727.7 million on the Blast protocol. Additionally, the Blast protocol deposited $94.7 million worth of DAI stablecoin into Maker for yield farming. As a result, the Blast protocol has over $822 million in total value locked (TVL) and over 67,000 community members, making L2 one of the top Ethereum validators with Lido DAO.
Blast protocol preparation for mainnet launch
The Blast Protocol has grown into a vibrant community supported by a dedicated team of venture capitalists and developers. Meanwhile, Blast Network has promised early access members that its roadmap for a February mainnet launch is on track. The company has also accelerated developer hiring to ensure the best possible product launch.
job posting
Blast achieved $634 million TVL through 67,757 community members.
We are hiring a Senior DevOps Engineer and a Senior Protocol Engineer.
If you’d like to contribute to the Blast https://t.co/sHd6FeJl2s, get in touch.
— Blast (@Blast_L2) November 30, 2023
The Blast network offers early access membership with a 4% yield on Ether and a 5% yield on stablecoins, with redemption of staked assets scheduled to begin in May next year. Notably, Blast’s Early Access membership has grown by invitation only and will be rewarded with Blast Points, which will be available for use next May. However, the Blast protocol has reassured community members that their assets are safe in other layer 2-like multi-signature wallets such as Arbitrum (ARB), Polygon (MATIC), and Optimism (OP).
Blast is EVM compatible and therefore compatible with other blockchains, so its mainnet launch is expected to produce farming on Ethereum and top-tier stablecoins. Early last month, Blast Protocol announced that it had raised approximately $20 million from 12 investors led by Paradigm and Standard Crypto.
market outlook
The remarkable growth of Blast’s total value to over $822 billion in a short period of time indicates that most institutional investors are very optimistic about Ethereum (ETH) and the DeFi market. Moreover, the total value locked on the Ethereum network has surpassed nearly $30 billion, and the stablecoin market capitalization has surpassed $66 billion. With Ethereum price closely following Bitcoin price movements, Blast’s TVL value is expected to easily surpass $1 billion in the next quarter. Nonetheless, it is worth noting that the Ethereum network faces tremendous competition from other smart contract networks such as Cardano (ADA) and Solana (SOL).
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