What is Blast? Blast is a Layer 2 platform built on Optimistic Rollup technology with a focus on LSD and RWAs. So what is so special about Blast that attracts a series of big VCs like Paradigm? Everyone, let’s find out in the article below.
To understand more about Blast, people can refer to some of the articles below:
- What is Layer 2? Complete Guide to Layer 2 Solutions
- What is Optimistic Rollup? Overview of Optimistic Rollup
- What is Arbitrum? Arbitrum Cryptocurrency Overview
- What is Optimism (OP)? Overview of Cryptocurrency Optimism
Blast Overview
What is Blast?
Blast is a Layer 2 platform built on Optimistic Rollup technology with a focus on two main products: LSD and Real World Assets. For LSD, when users bring ETH to Blast’s network, Blast will design its network to allow 1 ETH in the Blast wallet to automatically increase over time to 1.04, 1.08 or 1.12 ETH.
Next for Real World Asset, when users connect their Stablecoins such as USDC, USDT or DAI to Blast, these Stablecoins will be deposited into on-chain US government bonds on Maker DAO and profits will be paid. back to users in the form of USDB – Blast’s Stablecoin.
Because it is an Optimistic Rollup platform, Blast is highly compatible with EVM to help developers easily migrate DApps and Protocols from Ethereum to Blast.
Project differences
Blast is designed to grow powerfully through Blast Points with a multi-level model:
- When the person you refer directly receives a reward, you will receive 16% from that user in the form of Blast Points.
- You will receive 8% from the referral through the person who receives the referral directly from you.
Blast’s 2-tier multi-level model is expected to create a wave of FOMO when users deposit money into Blast, especially those who participate early in support will receive an Airdrop from the platform in the near future.
Mechanism of action of Blast airdrop
For each ETH deposited into Blast, every week everyone will receive one spin from the lucky wheel. If the amount is less than 1 ETH, it will take longer than 1 week to receive a spin, if the amount is more than 1 ETH, it will take less than 1 week for everyone to receive a spin.
For example: Transferring 0.5 ETH to Blast will receive 0.5 spins per week, so we will have to wait 2 weeks to get 1 spin. If the transfer amount is 2 ETH, everyone will be able to spin up to 2 turns per week.
The rate of getting a high or low score will also depend on the amount of ETH your team is holding. If your team has the first 5 ETH, the rate of getting more points will be higher than the team that doesn’t. enough. In addition, there will also be different milestones with a higher rate of receiving points such as 10, 20 ETH for the whole team.
Development Roadmap
Blast’s initial development roadmap is designed as follows:
- Phase 1: Early backers can move ETH to Blast and receive the accompanying profits in Blast Points.
- Phase 2: The network will officially mainnet on February 24, 2024, when DApps can be deployed and users can withdraw money.
- Phase 3: On May 24, 2024, users can claim their Blast Points.
Investor
- November 21, 2023: Blast successfully called for $20M from large investment funds such as Paradigm, Standard Crypto,…
Core Team
Blast’s development team is led by Pacman – Founder of Blur – a large NFT Marketplace platform in the Crypto market and many members have extensive experience in traditional finance such as FAANG or studied at many famous schools such as Yale, MIT, Nanyang Technological University, Seoul National University.
Some of the members from work at major DeFI & Web3 protocols on Ethereum or Solana.
Tokenomics
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Exchanges
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Project Information Channel
Summary
Blast is an extremely notable Layer 2 platform built by well-known members of the Crypto market. Hopefully through this article everyone can understand more about what Blast is?
