Blast Price

Blast (BLAST) is a layer 2 solution for the Ethereum blockchain. It aims to increase transaction efficiency and scalability by processing transactions off-chain, which reduces costs and speeds up the network. This makes it more viable for Ethereum-based projects.

One unique feature of Blast is its native yield offering. Users can earn interest on their deposited ETH and stablecoins directly on the platform. This yield is generated through partnerships with platforms like Lido and MakerDAO, offering up to 4% interest on ETH and 5% on stablecoins.

Blast launched its mainnet in February 2024 and has quickly amassed over $2 billion in total value locked (TVL). It also includes features like gas subsidies for developers and a focus on NFTs, benefiting from its association with the Blur NFT marketplace. Despite some controversy around security and the launch process, Blast continues to attract significant interest from the crypto community.

Blast (BLAST) is an Ethereum layer 2 scaling solution. It uses optimistic rollups to increase transaction efficiency and reduce costs.

Blast processes transactions off-chain and then rolls them up into a single batch for submission to the Ethereum mainchain. This method reduces the load on the Ethereum network and lowers transaction fees.

Blast offers native yield for deposited assets. When you bridge your ETH or stablecoins to Blast, they are automatically staked. This staking generates interest, which is redistributed to users. ETH deposits earn around 4% interest, while stablecoins like USDT, USDC, and DAI earn around 5% interest.

Blast's smart contracts handle the staking process. The interest earned from staking is automatically distributed back to users in the form of ETH or stablecoins. This system simplifies earning passive income from your crypto assets without needing to manage individual staking.

Blast uses a multi-signature wallet to secure assets. At least three out of five designated signers must approve any withdrawal requests. This mechanism aims to enhance security and trust in the platform.

Blast incentivizes early users through airdrops and additional rewards. Users earn points for bridging assets and inviting others to join the platform. These points can be redeemed for BLAST tokens after June 26, 2024.

Blast provides robust tools for developers, including RPC endpoints that allow seamless integration and interaction with the Blast network. This facilitates the creation and deployment of decentralized applications (dApps) on the Blast network.

Blast (BLAST) was founded by Tieshun Roquerre, also known as "Pacman," who is also the founder of the Blur NFT platform. The team includes members with backgrounds from prestigious institutions such as FAANG companies, Yale, MIT, and Nanyang Technological University. They have extensive experience working on web3 and DeFi protocols like Ethereum and Solana.

Blast officially announced its project in November 2023 and launched its mainnet on February 29, 2024. Before the mainnet launch, Blast had an early access phase starting in November 2023, where users could bridge assets and participate in the platform's features.

BLAST raised $20 million in a funding round led by Paradigm, with additional backing from investors like Standard Crypto, eGirl Capital, and prominent figures such as Santiago R. Santos and Larry Cermak. This funding supports the development and sustainability of the Blast platform.

Blast Roadmap

• Early Access (November 2023): Users could bridge assets and earn native yield. This phase also included the Blast Points reward system.
• Testnet Launch (January 2024): Along with the BIG Bang developer competition, where developers could win and have their dApps promoted on the Blast platform.
• Mainnet Launch (February 29, 2024): The mainnet launch allowed users to start withdrawing their funds and marked the beginning of widespread use of Blast’s features.
• BLAST Token Airdrop (June 2024): Users can convert Blast Points to BLAST tokens as part of the airdrop, with 50% allocated to early adopters and 50% to developers.

The Blast (BLAST) token serves multiple purposes within the Blast ecosystem:

1. Native Yield: BLAST tokens provide passive income. When you deposit ETH or stablecoins on the Blast platform, you earn interest. ETH earns around 4%, while stablecoins like USDT, USDC, and DAI earn about 5% annually. This yield is automatically added to your balance.
2. Transaction Fees: BLAST tokens are used to pay for transaction fees on the Blast network. This ensures smooth and efficient processing of transactions.
3. Rewards and Incentives: You can earn BLAST tokens by participating in the Blast ecosystem. This includes bridging assets to Blast, using dApps, and inviting others to join the platform. Early adopters and active participants are rewarded with BLAST tokens through various incentive programs and airdrops.
4. Staking and Lending: BLAST tokens can be staked or lent on the platform to earn additional rewards. This allows users to maximize their returns within the Blast ecosystem.
5. Trade BLAST on KuCoin: Trade $BLAST token against other cryptos listed on the KuCoin Spot Market after doing your own research. Based on your investment goals and risk tolerance, you can buy, sell, or HODL $BLAST.

The total supply of BLAST tokens is capped at 64,000,000. BLAST tokens are distributed through various means, including airdrops, developer incentives, and community engagement programs. Notably, 50% of the airdrop allocation is reserved for developers participating in the Big Bang Competition and for other mainnet dApps.

By following these steps, you will successfully participate in the Blast airdrop and maximize your rewards. Here’s how you can claim the $BLAST airdrop:

1. Visit the Blast Website: Go to the official Blast airdrop portal at blast.io.
2. Enter Invite Code: Use an invite code to access the platform.
3. Connect Your Wallet: Connect your crypto wallet to the platform. Supported wallets include MetaMask, WalletConnect, Halo Wallet, and Rabby.
4. Complete Social Tasks: Follow Blast on social media platforms like Twitter and join their Discord community to enhance your eligibility.
5. Bridge Assets: Transfer ETH or supported stablecoins (like USDT, USDC, or DAI) from Ethereum to Blast L2. Ensure you bridge a minimum of 0.05 ETH to participate.
6. Earn Blast Points: Engage with the platform by trading, providing liquidity, and referring new users. These activities will earn you Blast Points.
7. Redeem Blast Points: Your Blast Points would be converted to BLAST tokens by June 2024.
8. Refer Friends: Share your referral code with friends to earn additional points.

For more detailed information on the Blast airdrop, refer to theBlast airdrop guide.