What is Blast ($BLAST)?

Introducing a Layer 2 network ready to blast its way to the top, focusing on Real World Assets (RWA), yield generation and of course the primary mission of scaling the Ethereum network…

Yes, you guessed it, it’s none other than Blast.

What is Blast ($BLAST)?

Blast is a first-of-its-kind Ethereum Layer 2 network with native yield for $ETH (4%) and stablecoins that come from RWA protocols and Ethereum staking. The Blast network then automatically rewards all of the generated yield back to the community, so let’s break it all down bit by bit.

How Does Blast Work?

The Blast network is designed to reward users in multiple ways and this is all thanks to The Merge that took place on Ethereum, without it, Blast would not exist. The first mechanism by which Blast rewards its users is Auto Rebasing which enables $ETH and $USDB, the native Blast stablecoin to earn yield automatically just by holding the tokens.

Secondly, Blast utilizes the Ethereum Layer 1 by staking $ETH through Lido Finance, where they receive liquid staked $ETH and all the yield is then transferred to Blast L2 users. Next, Blast leverages Maker DAO’s T-Bill protocol which allows users to bridge and earn the native rebase stablecoin, $USDB.

Finally is the ultimate Gas Revenue Sharing model of which Blast automatically distributes the revenue earned from fees back to dApps on the network. This feature alone will most likely attract some of the biggest developers and protocols to build on Blast.

Blast Ecosystem

In such a short time, the Blast ecosystem has grown tremendously with over 120+ integrated and natively built dApps including Uniswap, Thruster Finance, Zero Lend and many more benefitting from the unique Blast network.

Blast has already amassed over $2.6B in Total Value Locked (TVL) with over 1.62M users blasting across the network. Over 74M transactions have already been facilitated and it’s only the beginning. Both users and developers are reaping rewards from Blast, just the way DeFi was meant to be.

Blast Token

Recently airdropped is the native token $BLAST which is used to govern the entire Blast network. Token holders can propose and vote on any Blast Improvement Proposals, also known as BLIPs. Although the first phase of the Blast airdrop has concluded, the second phase has now been initiated and users can still get a second shot at another $BLAST airdrop!

Blast Points - Phase 2

Users who were eligible for the first $BLAST airdrop were participants of the first Phase of Blast Points. Now, Phase 2 of Blast Points has officially been initiated (3rd July 2024) and we can qualify and claim our portion of the second $BLAST airdrop which has an allocated amount of 10 Billion $BLAST tokens. 50% of the tokens will be allocated towards Blast Gold and users can obtain Gold based on their on-chain Blast presence.

To earn Blast Points, users can use either $ETH, $WETH, $USDB and $BLAST by either using/depositing them into decentralized applications, inviting friends or even winning the Blast Jackpot. Once Phase 2 has concluded, users will be able to claim their $BLAST airdrop!

To get started, you can follow this Blast invite link! (Limited Time Only)

How To Buy Blast ($BLAST)

There are two main ways to buy $BLAST, either by using a centralised exchange or by using the decentralized option of using a decentralized exchange (DEX) or aggregator in the Blast ecosystem.

Option 1- Centralised Exchange

$BLAST is available on most major centralized exchanges (CEX) and can be bought using FIAT currency. $BLAST can also be withdrawn from your CEX to your non-custodial wallet (e.g. Metamask). Here are a few CEXs listed below which have listed the $BLAST token:

Binance - The most popular CEX in the world
ByBit - EARN UP TO $30K in DEPOSIT BONUSES
BitGet - Trade on BitGet and receive 0% Deposit Cashback + $5,000 DEPOSIT BONUSES
OKX - Get up to 20% off on trading fees!
Coinbase - Spend $100 and Get $10 back!

Option 2 - DeFi Wallet & Decentralized Exchange

To obtain the $BLAST token through a decentralized exchange/aggregator, one must first hold Ethereum ($ETH), the native token to the Blast Layer 2 network that is used for transactional fees. Any token compatible with the Blast ecosystem can be swapped and traded for the $BLAST token.

The most popular DEX on the Blast network is Uniswap which has an incredible amount of liquidity to facilitate most of your desired trades. Although there are other exchanges, Uniswap can be a great place to get started.

Uniswap Website

Conclusion

According to CoinMarketCap, at the time of writing, $BLAST is currently trading at $0.022 with a market cap of $379.15M. Although the $BLAST token is extremely new with only days of being in the market, $BLAST is already up over 5.71% from its airdrop price. In comparison to other airdrops recently, they have been majorly dumped on. Could this be a sign of bullish things to come for $BLAST?

Blast has innovated to become a unique Ethereum Layer 2 network and has many attractions to its network and ecosystem. The battle of the best Layer 2 network is yet to be discovered, however, Blast could very well be one of the top competitors in the coming bull run. $BLAST, as well as many other L2 tokens, are yet to experience a bull market and this could be one of crypto’s biggest narratives…