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Introducing Blast: The only Ethereum L2 with native yield for ETH and stablecoins.
We’ve raised $20m from @Paradigm and @StandardCrypto to build the L2 that helps you earn more.
Details on how to get early access at the end of the thread👇
We’ve raised $20m from @Paradigm and @StandardCrypto to build the L2 that helps you earn more.
Details on how to get early access at the end of the thread👇
Why another L2?
Blast is built on the principle that markets march towards efficiency. More specifically, liquidity flows to where it can get the highest yield.
Blast is built on the principle that markets march towards efficiency. More specifically, liquidity flows to where it can get the highest yield.
There are different types of yield. One type of yield is the risk-free interest rate (RFR). The most famous RFR is in the US economy. The Fed controls inflation via interest rates and you can access it via T-Bills. If you don’t beat these rates, you are losing money to inflation.
Ethereum now has a version of the RFR in the form of ETH staking. You can earn 3-4% on your ETH via staking, and that alone has sucked up $20B of liquidity.
The baseline interest rate on existing L2s is 0%, so by default the value of your assets depreciate over time.
Blast is the first L2 with native yield. On Blast, your balance compounds automatically, and earns Blast rewards on top.
Blast is the first L2 with native yield. On Blast, your balance compounds automatically, and earns Blast rewards on top.
Specifically, Blast natively participates in ETH staking, and the staking yield is passed back to the L2’s users and dapps. 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.
It’s not just ETH on Blast that earns yield. Stablecoins do too. When you bridge stablecoins like USDC, USDT, and DAI to Blast, it’s deposited in on-chain T-Bill protocols like MakerDAO, and the yield is passed back to Blast users via USDB, Blast’s auto-rebasing stablecoin.
Blast is an EVM-compatible, optimistic rollup that raises the baseline yield for users and developers without changing the experience cryptonatives expect.
Blast was built by @pacmanblur and a team with experience across MakerDAO, MIT, Yale, Seoul National University, and raised $20M from @paradigm @standardcrypto @izebel_eth @rewkang @hasufl @0xfoobar @santiagoroel @lawmaster @hsakatrades egirl - @CL207 @degenspartan @loomdart
Additional investors include @bywassies @evan_ss6 @manifoldtrading @gainzy222 @KeyboardMonkey3 @DoveyWan @JandX_ @0xLawliette @Brentsketit @icebergy_ @naniXBT @cole0x
Today, Blast Early Access is NOW LIVE
Early Access is invite only and everyone who joins will be rewarded with Blast Points.
Early Access is invite only and everyone who joins will be rewarded with Blast Points.
Once you have access, you can bridge to earn yield (4% for ETH + 5% for stablecoins) and Blast Points ahead of the Mainnet launch in February (2024).
Early access members get more points based on how much they bridge and who they invite.
Early access members get more points based on how much they bridge and who they invite.
Blast Timeline
Early Access (now) - bridge to earn yield + Blast Points
Mainnet (Feb 24) - dapps go live, withdrawals enabled
Redemption (May 24) - Blast Points can be redeemed
Early Access (now) - bridge to earn yield + Blast Points
Mainnet (Feb 24) - dapps go live, withdrawals enabled
Redemption (May 24) - Blast Points can be redeemed
You can get an invite to Blast Early Access by quote tweeting this thread with why you’re excited about Blast. We’ll DM invites to 20 random QTs.
https://twitter.com/1686089393268752384/status/1726747087906464024
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