blast logo

Blast (N/A)

Active
Total Raise: $25,000,000
Date: 30 May - 30 May

Blast is an EVM-compatible Ethereum Layer 2 blockchain designed specifically for native Ethereum and stablecoin staking. It allows users to receive a 4% APR for ETH and a 5% APR for stablecoins, without risks and reward fluctuations related to other methods of earning.

It was founded by Tieshun Roquerre (aka Pacman) - the creator of BLUR, an NFT marketplace, and portfolio tracker that gained recognition in the crypto space due to the 5th largest airdrop in Ethereum history.

Blast has raised over $25M from funds and partners, including Paradigm, eGirl Capital, Standard Crypto, and more.

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Blast Overview

Ticker: N/A
Country: N/A
Industry: Blockchain Service
Founded: 2023
Whitelist: No
Blockchain Network: Ethereum
KYC: No
Bounty: Yes
MVP: Yes
Type: Equity
Security Audit: No

Blast Review

Blast is an Ethereum Layer 2 blockchain technology with native ETH and stablecoin staking, founded by Tieshun Roquerre, aka Pacman, CEO and founder of BLUR. Blast offers the opportunity to earn a fixed 4% APR for ETH and a 5% APR for stablecoins. This opportunity comes without the risks associated with alternative methods of earning, such as liquidity pools or farming, and without the high Ethereum chain fees.

To enable native staking of Ethereum and stablecoins on its L2 chain, Blast uses auto rebasing on its L2 network. After Ethereum's Shanghai upgrade, Blast automatically transfers ETH staking yields from Layer 1 (initially via Lido) to users on the L2. Users can also bridge stablecoins to the Blast network to receive Blast's auto-rebasing stablecoins $USDB,  that can be redeemed for USDC when bridging back to Ethereum. In the future, Blast plans to fully replace Lido and MakerDAO with its own native solutions or any other protocols if the community deems it necessary.

To incentivize early adoption of the protocol during its initial stages, Blast has already announced an airdrop (retrodrop) of Blast tokens to early adopters and developers in May 2024. To qualify for the airdrop, users must earn airdrop points by bridging ETH and stablecoins to Blast as well as participating in a referral program.

Since its inception in 2023, Blast has managed to raise over $25M from top-tier funds and backers such as Paradigm, eGirl Capital, and Standard Crypto, while garnering significant attention from the crypto community on Twitter and YouTube. 

Despite positive narratives from media and funds, doubts about the actual trustworthiness of the network persist among influencers and the community. Their main concerns include:

  • The Layer 2 network poses a serious security threat to user assets due to its centralization.
  • Blast's smart contract is modifiable.
  • The L2 protocol isn't actually launched and currently operates via Lido and MakerDAO protocols.
  • Users can't return funds bridged to Blast for three months after they are sent.
  • There's no documentation yet of the proposed earning mechanisms.

You can find more info about Blast's main concerns here

Blast Token Economy

Total Raise: $25,000,000
Total Supply:
Private/Pre-sale: 25,000,000 (0%)
Public Sale: (0%)
Fully Diluted Valuation (FDV):
Initial Circulation Supply: (0% of FDV)

Blast Marketing Activity

Search Engine Optimization
Social Media & Community Management
PR & Traffic
Marketing Infrastructure
Influencer Marketing
Growth Marketing
Last Update:  22 Dec 2023 Upgrade

Blast Team

Tieshun Roquerre
Tieshun Roquerre
CEO & Founder

Blast News

Blast Roadmap

2023

Early Access

February 2024

Mainnet Launch

May 2024

Redemption (Airdrop Distributed)

Blast Airdrop & Retrodrop & Bounty

Community Airdrop (Retrodrop)
blast logo
funds
Start Date:
01 Jul 2023
End Date:
30 May 2024
Difficulty:
Medium
Winners:
N/A
Rewards:
N/A

Description

Blast is an EVM-compatible Ethereum Layer 2 network that offers native yield staking of ETH and stablecoins on its chain. Since its inception in 2023, Blast has already raised over $25M and garnered significant interest within the crypto community.

As the project hasn't released its mainnet and is still under development, it announced an airdrop for early adopters in May 2024 and for developers in January 2024. Anyone who locks Ethereum or stablecoins on the Blast network receives points, which will be used to claim the airdrop in the future.

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