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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

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    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

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    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

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    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

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    Meta Cancels Next-Gen Headset Amidst Changing Market Landscape

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    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

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    FC Barcelona unveils Barca Pass crypto wallet, NFT avatars

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    Official Hyperliquid NFTs Hit All-Time High of $65,000 on OTC Desks

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    NFTs Weekly Sales Surge 24% to $142M, Guild of Guardians & Immutable Dominate in Sales

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    NFT sales pump 37% to $144.8m, Immutable dethrones Ethereum

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    Pudgy Penguins Joins Lufthansa for Real Travel Rewards

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    Solsniper Closes NFT Marketplace After 3.5 Years, Shifts Focus to Trading Bot Development

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    Ethereum Token Platform Zora Sues Deloitte Over AI Trademark Dispute

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    How ‘MapleStory N’ Is Fighting Back Against Thousands of Hackers

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    Animoca Brands partners with Cross the Ages to support the launch of blockchain game

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    Civitas Migrates to Immutable zkEVM to Power Low-Cost, Scalable Web3 Gaming & Web3 Network Growth

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    Doodles NFT Sticker Launch on Telegram Sells Out in 24 Hours

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    Crypto Casinos Made Over $80 Billion in 2024

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    A16z-backed Spekter Games founder shares Telegram gaming ethos

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    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

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    Long and Short Positions in Crypto Explained for Beginners

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    What Is Fully Diluted Valuation (FDV) in Crypto?

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    What Is Yield Farming in Crypto? A Beginner’s Guide to DeFi Income

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    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

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    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

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    The Future of Gambling: How Casino Sites Are Leveraging Web3

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

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    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

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    Experience to Earn: Everdome’s Metaverse Frontier

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    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

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    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

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    SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

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    FC Barcelona unveils Barca Pass crypto wallet, NFT avatars

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    Doodles NFT Sticker Launch on Telegram Sells Out in 24 Hours

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    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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    Polyhedra Network launches Proof Cloud in open beta

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    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

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    SoonVerse Partners with Arris to Enhance User Experience

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    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

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    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

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    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

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    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

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  • Guides
    What Does DCA Mean in Crypto? A Simple Breakdown – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    A Step-by-Step Guide for Beginners

    Long and Short Positions in Crypto Explained for Beginners

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    What Is Crypto Staking? How to Earn Crypto by Holding It

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    What Are Liquidity Pools? A Guide to DeFi Explained Simply

    What Is Yield Farming in Crypto? A Beginner’s Guide to DeFi Income

    What Is Yield Farming in Crypto? A Beginner’s Guide to DeFi Income

    What Is Asset Tokenization? Types, Why It Matters Now [2025]

    What Is Asset Tokenization? Types, Why It Matters Now [2025]

    Key Innovations, Challenges, and What Comes Next

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  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

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    Benjamin Cowen Warns Majority of Altcoins Will Never See New All-Time Highs Again Amid ‘Serious Declines’

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Home Blockchain

New Ethereum Layer 2 Blast Attracts $30M Hours After Bridge Goes Live

November 22, 2023
in Blockchain
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New Ethereum Layer 2 Blast Attracts $30M Hours After Bridge Goes Live
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Investors have bridged over $30 million in ether and stablecoins to Blast, the latest Ethereum layer 2 network, just hours after the project went live late on Monday.

READ ALSO

Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

The inflow is evidence of strong demand for Layer 2 networks or protocols that operate on top of a layer 1 blockchain, such as Ethereum, to reduce bottlenecks related to speed, cost and scalability. Bridges are blockchain-based tools that allow users to transfer tokens between different networks.

Also driving the charm is Blast’s unique design: Depositors start earning yields on the transferred ether alongside BLAST points.

“Blast natively participates in ETH staking, and the staking yield is passed back to the L2’s users and dapps,” the team said in a post Tuesday. ‘We’ve redesigned the L2 from the ground up so that if you have 1 ETH in your wallet on Blast, over time, it grows to 1.04, 1.08, 1.12 ETH automatically.”

Users have to wait until the launch of the mainnet in February before they can withdraw any funds from the network or participate in on-chain activities. As such, Blast is invite-only as of Tuesday, requiring a code from invited users to gain access. Besides, the BLAST points can be redeemed starting in May.

Of the total funds bridged, data shows over $19 million in ether has been staked on Lido, where it is set to earn as much as 4% annualized yield. Another $3 million is on Maker, while a smaller tranche of $150,000 in dai (DAI) stablecoins sits idle in the wallet.

See also  Ethereum Price Makes New 2023 High, Sets Sights On $3,000

Users who bridge stablecoins receive Blast’s auto-rebasing stablecoin, USDB. The yield for USDB comes from MakerDAO’s on-chain T-Bill protocol.

Blast raised over $20 million in a round led by Paradigm and Standard Crypto and is headed by pseudonymous figurehead @PacmanBlur, one of the co-founders of NFT marketplace Blur.

@PacmanBlur said in a separate post that Blast was an extension of the Blur ecosystem, letting Blur users earn yields on idle assets while improving the technical aspects required to offer sophisticated NFT products to users.

BLUR prices rose 12% in the past 24 hours following the release of Blast.

Tags: 30MAttractsBlastBridgeEthereumhourslayerLive

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