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.
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.
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.
cost cheap clomiphene prices where can i buy clomiphene can i get cheap clomid no prescription how to buy cheap clomid pill rx clomid where to get generic clomiphene without dr prescription where buy generic clomid tablets
More posts like this would prosper the blogosphere more useful.
More text pieces like this would make the интернет better.
how to buy zithromax – flagyl online order oral metronidazole 200mg
order semaglutide online cheap – cyproheptadine oral buy periactin 4 mg online cheap
order domperidone 10mg generic – buy motilium 10mg online cheap buy cyclobenzaprine
propranolol usa – buy plavix 75mg sale order methotrexate 2.5mg generic
buy augmentin 375mg generic – atbioinfo buy generic ampicillin for sale
buy esomeprazole 40mg online cheap – nexiumtous buy generic esomeprazole for sale
generic warfarin 5mg – anticoagulant cozaar online order
order mobic pill – swelling buy mobic 7.5mg online cheap
buy deltasone 5mg without prescription – aprep lson deltasone 5mg us
best ed pill – fastedtotake.com erection problems
where can i buy amoxicillin – order amoxicillin online cheap cheap amoxil generic
diflucan brand – this buy fluconazole pill
cenforce 100mg for sale – https://cenforcers.com/ buy generic cenforce for sale
cialis canadian purchase – buy generic tadalafil online cheap cialis 50mg
zantac 150mg without prescription – https://aranitidine.com/ cost ranitidine 300mg
tadalafil (exilar-sava healthcare) version of cialis] (rx) lowest price – https://strongtadafl.com/# benefits of tadalafil over sidenafil
More posts like this would make the online elbow-room more useful. cenforce 100 comentarios
cheap legal viagra – https://strongvpls.com/ buy viagra plus
Greetings! Very gainful recommendation within this article! It’s the scarcely changes which wish make the largest changes. Thanks a quantity in the direction of sharing! order gabapentin 800mg online cheap
This website really has all of the low-down and facts I needed to this case and didn’t positive who to ask. https://ursxdol.com/cialis-tadalafil-20/
Thanks on putting this up. It’s understandably done. https://prohnrg.com/product/atenolol-50-mg-online/
This is a topic which is in to my heart… Many thanks! Quite where can I lay one’s hands on the contact details an eye to questions? acheter lasix en france avec livraison assuree
More posts like this would make the blogosphere more useful. https://ondactone.com/simvastatin/
The reconditeness in this piece is exceptional.
https://doxycyclinege.com/pro/ondansetron/
This is the amicable of glad I enjoy reading. http://3ak.cn/home.php?mod=space&uid=229259
forxiga 10 mg pills – https://janozin.com/ forxiga brand
order orlistat for sale – https://asacostat.com/# purchase orlistat online cheap