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Blast

Category: Layer 2, Decentralized finance (DEFI)

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Overview

Total XP Rewards

220

Estimated Rewards

$100M

Funding

$20M

Current Stage

Season 2

Total value locked

$470M

Unique Users

1.2M

Chains

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Phase

Mainnet

Structure

Points based

Gas

Yes

Grade

A

Tasks

0/11

TGE

June-2024

Type

Layer 2

Confirmed

Yes

Date

10 months ago

Introduction

  • Blast is Ethereum L2 with native yield for ETH and stablecoins.

Tasks

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Fundamentals

Auto Rebasing

  • ETH itself, not WETH, STETH, or any other ERC20 is natively rebased on the L2. 
  • The ETH balance for EOAs is automatically rebased. Smart contracts can opt-in to this rebasing, making it easy for existing Dapps to deploy on Blast without any changes.
  • USDB, Blast’s native stablecoin, is automatically rebasing as well.

L1 Staking

  • Blast only became possible following Ethereum’s Shanghai upgrade. 
  • ETH yields from L1 staking, initially Lido is automatically transferred to users via rebasing ETH on the L2.
  • In the future, the Blast community will have the power to supplement or even fully replace Lido Blast-native solutions or other third party protocols.

T-Bill Yield

  • Users who bridge stablecoins receive USDB, Blast’s auto-rebasing stablecoin. 
  • The yield for USDB comes from MakerDAO’s on-chain T-Bill protocol. USDB can be redeemed for DAI when bridging back to Ethereum.
  • In the future, the Blast community will have the power to supplement or even fully replace, MakerDAO with Blast-native solutions or other third party protocols.

 

​Gas Revenue Sharing

  • Other L2s keep revenue from gas fees for themselves. 
  • Blast gives net gas revenue back to Dapps programmatically.
  • Dapps developers can keep this revenue for themselves or use it to subsidize gas fees for users.

 

Potential Rewards

  • Blast Points/Gold. Previously, users could earn Blast Points by bridging ETH to Blast, referring other users to blast.
  • Now, users can earn Blast Points & Blast Gold based on: Wallet balance, Dapp balance, Dapp usage.
  • 50% of the Blast Airdrop is allocated to Blast Points.
  • 50% of the Blast Airdrop is allocated to Blast Gold.
  • Gold is for Dapps, and unlike Points, Gold is distributed manually. The Blast incentives committee will distribute Gold on a 2-3 week cadence and announce publicly once Gold has been distributed.
  • You will earn +16% on top of any Gold your invites earn, and +8% on top of any Gold your invite’s invites earn. The more your invites use and earn Gold from Dapps, the more you earn.
  • You can earn Multipliers by using certain highlighted Dapps.

Airdrop scheduled for 26th June.

  • Pacman is behind Blast who created Blur NFT Marketplace. 
  • Blur season 1 & 2 airdrop value was over $700M.
  • Blast TVL- $2B
  • Blast has 1.2M users, just 20% of zksync(6M) and layerzero(5M).
  • Airdrop looks more attractive if you compare TVL and users.

Investors

  • Paradigm
  • Standard Crypto

Audit

  • Chainight

Features

  • High Scalability
  • Fast Transaction Speeds
  • Robust Security
  • Interoperability
  • Enhanced User Experience
  • EVM compatible
  • Energy Efficiency
  • Ease of Integration

Non-Financial Advice

  • Research:  Explore project's documentation, audits, and community.
  • Understand risks:  DeFi has vulnerabilities, market volatility, and token fluctuation.
  • Invest wisely:  Only invest what you can afford to lose.
  • Beware of scams:  Don't trust unsolicited outreach or guaranteed returns.

*ANZALI only provides suggestions and not financial advice. Use all of the information above at your own risk.

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