Blur announces new L2 called Blast alongside S3, backed by Paradigm
Blur, with backing from Paradigm and Standard Crypto, has launched a new Ethereum Layer 2 (L2) named Blast.
Blur, with backing from Paradigm and Standard Crypto, has launched a new Ethereum Layer 2 (L2) named Blast.
This article is authored by an independent contributor.
smolloop
Share
Blur, with backing from Paradigm and Standard Crypto, has launched a new Ethereum Layer 2 (L2) named Blast.
Why Blast?
Built on the idea that markets move toward efficiency, Blast tackles the issue of stagnant interest rates on existing L2s. Unlike others with a 0% baseline interest rate, Blast introduces native yield, automatically compounding balances and earning additional Blast rewards.
How Does Blast Work?
Blast taps into Ethereum's staking potential, allowing users to earn 3-4% on their ETH holdings. The L2 actively participates in ETH staking, with the yield benefiting both users and dApps. It's not just ETH—stablecoins bridged to Blast earn yield through on-chain T-Bill protocols, distributing rewards via Blast's stablecoin, USDB.
Early Access and Timeline
Blast's Early Access is now live, offering invite-only access with rewards in Blast Points. Bridging assets during this period yields 4% for ETH and 5% for stablecoins. The Mainnet launch is set for February 24, 2024, allowing dApps to go live and enabling withdrawals. Redemption for Blast Points is slated for May 24, 2024.
Recommended by Pluid
News
by tah_eth
News
Oct 4, 2024
News
by tah_eth
News
Oct 8, 2024
News
by Nattynatman
News
Oct 9, 2024
News
by Nattynatman
News
Oct 7, 2024