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Home > News
Published: 01/03/2024
-
Author: Kane
Blast Releases Mainnet, Expected Airdrop Redemption Schedule
Blast announces mainnet launch, also opens access for users to withdraw locked ETH from late November last year.
Azcnews Breaking (32)
Blast, the layer-2 solution affiliated with the NFT platform Blur, officially launches its mainnet after a 3-month trial period. Starting today, users can withdraw their staked assets.
Blast gained prominence since late November 2023 due to its Ethereum (ETH) staking model and “interest compounding” stablecoin. While Ethereum offers a basic interest rate of 3-4%, Blast utilizes customer funds for staking elsewhere, thereby generating additional profits to redistribute.
At that time, Blast began attracting users to bridge assets to accumulate Blast Points, which are the criteria for token airdrop redemption in May 2024.
Additionally, Blast introduced a “referral recruitment” program, offering additional points based on the number of friends they refer. Blast commits to adding an extra 16% bonus if users successfully refer someone and an additional 8% if that person invites others.
Blast’s operating model has been heavily criticized as a “ponzi airdrop farming” scheme, particularly because the project does not allow users to withdraw funds until the mainnet launch. Even the investment fund Paradigm has voiced opposition. Nevertheless, the platform’s Total Value Locked (TVL) continues to soar.
As of now, Blast holds over $2.3 billion TVL from 182,000 community members, including 469,000 ETH, 77.3 million USDC, 67.1 million USDT, 148,000 stETH, and 24.7 million DAI.
Tvl Blast
Dune Analytics
Dune Analytics
Related: What Is Blast? What’s Remarkable About The Layer-2 Project Calling For 20M Capital?
Blast Announces Airdrop
Regarding the airdrop, the project announces a 50% allocation based on Blast Points and 50% for Blast Gold (for ecosystem dApps). The project plans to redeem Blast Points on May 24th.
Arnold Toh, representing The Block, provides insight on Blast:
Blast has accumulated over $2 billion TVL even before the mainnet launch, directly competing with layer-2 giants like Arbitrum One and OP Mainnet. It remains to be seen how this ecosystem will evolve, not to mention when the project announces its airdrop.
Blast has successfully raised over $20 million from reputable investment funds such as Paradigm, Standard Crypto, eGirl Capital, and various other prominent figures in the crypto community. The team behind Blast also includes the founder of the NFT platform Blur, Pacman.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Read Less
#Blast
4.7/5
(3 votes)
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BNB Coin BNB
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USDC Coin USDC
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AVAX Coin AVAX
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BTC Coin BTC
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ETH Coin ETH
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Search...
Home > News
Published: 01/03/2024
-
Author: Kane
Blast Releases Mainnet, Expected Airdrop Redemption Schedule
Blast announces mainnet launch, also opens access for users to withdraw locked ETH from late November last year.
Azcnews Breaking (32)
Blast, the layer-2 solution affiliated with the NFT platform Blur, officially launches its mainnet after a 3-month trial period. Starting today, users can withdraw their staked assets.
Blast gained prominence since late November 2023 due to its Ethereum (ETH) staking model and “interest compounding” stablecoin. While Ethereum offers a basic interest rate of 3-4%, Blast utilizes customer funds for staking elsewhere, thereby generating additional profits to redistribute.
At that time, Blast began attracting users to bridge assets to accumulate Blast Points, which are the criteria for token airdrop redemption in May 2024.
Additionally, Blast introduced a “referral recruitment” program, offering additional points based on the number of friends they refer. Blast commits to adding an extra 16% bonus if users successfully refer someone and an additional 8% if that person invites others.
Blast’s operating model has been heavily criticized as a “ponzi airdrop farming” scheme, particularly because the project does not allow users to withdraw funds until the mainnet launch. Even the investment fund Paradigm has voiced opposition. Nevertheless, the platform’s Total Value Locked (TVL) continues to soar.
As of now, Blast holds over $2.3 billion TVL from 182,000 community members, including 469,000 ETH, 77.3 million USDC, 67.1 million USDT, 148,000 stETH, and 24.7 million DAI.
Tvl Blast
Dune Analytics
Dune Analytics
Related: What Is Blast? What’s Remarkable About The Layer-2 Project Calling For 20M Capital?
Blast Announces Airdrop
Regarding the airdrop, the project announces a 50% allocation based on Blast Points and 50% for Blast Gold (for ecosystem dApps). The project plans to redeem Blast Points on May 24th.
Arnold Toh, representing The Block, provides insight on Blast:
Blast has accumulated over $2 billion TVL even before the mainnet launch, directly competing with layer-2 giants like Arbitrum One and OP Mainnet. It remains to be seen how this ecosystem will evolve, not to mention when the project announces its airdrop.
Blast has successfully raised over $20 million from reputable investment funds such as Paradigm, Standard Crypto, eGirl Capital, and various other prominent figures in the crypto community. The team behind Blast also includes the founder of the NFT platform Blur, Pacman.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Read Less
#Blast
4.7/5
(3 votes)
Leave a Reply
Your email address will not be published. Required fields are marked *
Comment *
Twitter
Telegram
Name
Save my name, email, and website in this browser for the next time I comment.
LATEST
Azcnews Korea
News | Bitcoin | Editor Choice | Policy & Regulations 01/03/2024
Cryptocurrency Exchanges in Korea Surge Amidst Bitcoin Rally
Amidst the surging momentum of Bitcoin, local cryptocurrency exchanges are witnessing a notable surge in returns.
Azcnews Breakin1g
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What is Axelar Network? Information about Token AXL?
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Azcnews Breaking (28)
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Binance Announces Listing of Axelar (AXL)
Binance cryptocurrency exchange announces the listing of Axelar (AXL), with detailed information on the listing time and trading instructions for this token available here!
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XRP Gears Up for Unprecedented Rally Following Bitcoin’s Momentum
Renowned Forbes senior contributor Billy Bambrough anticipates a potential surge in digital assets such as XRP, fueled by optimistic forecasts of Bitcoin reaching $150,000 by 2025.
Azcnews (2)
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