Blast mainnet goes live, unlocking $2.3b in crypto

2 Min Read

The layer-2 challenge Blast has introduced the launch of its mainnet.

Blast has introduced in an X publish on March 1 that it’s going to airdrop tokens after the launch of its mainnet. In line with the publish, half shall be distributed amongst customers, and the second will help decentralized functions (dapps) equivalent to Blast Gold. The entire airdrop allocation sum is unknown.

Launched on Nov. 22, 2023, Blast is an EVM-compatible scaling protocol that leverages Optimistic Rollups. The platform presents passive revenue of 4-5% each year. In November 2023, Blast, from the top of the biggest non-funglible token (NFT) market, Blur, Tieshun Rokerra (Pacman), attracted greater than $130 million in consumer funds simply 24 hours after launch.

The launch of the mainnet unlocked $2.3 billion in property saved in protocol to earn staking and airdrop rewards.

“Throughout our Early Entry section, 181,888 group members bridged $2.3b to Blast. These group members are incomes $85 million per 12 months in native yield + Blast Factors.”

Blast group

On the similar time, greater than 3,000 groups started engaged on Blast forward of the mainnet launch. Builders have created dapps that may solely exist on Blast utilizing Blast’s personal fuel mining and distribution primitives, the Blast group mentioned.

Shortly earlier than the launch, the group of the decentralized change Sushi introduced a partnership with Blast. The collaboration particulars are unknown, however customers suspect the platform will combine the Blast resolution into its performance.

The official launch announcement for Blast states that the challenge has raised $20 million from funding funds Paradigm and Commonplace Crypto.

Originally of the week, the Blast community’s layer 2 challenge, RiskOnBlast, faced a big rug pull. About 500 Ethereum (ETH) have been misplaced as a result of hack. The troubling occasions unfolded when some group members seen the sudden erasure of RiskOnBlast’s social media presence.

Follow Us on Google News

Source link

Share This Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *