How to Bridge to Blast Mainnet

Blast stands as a pioneering force in the Layer 2 domain, set to transform the Ethereum landscape with its innovative approach. Here’s how to bridge assets to the Blast network and experience its speed and efficiency.

Blast has quickly gained attention from the user and developer community since its mainnet launch on February 29. Blast distinguishes itself from other Layer 2 networks on Ethereum through its unique native yield feature. It enables users to earn passive income by keeping specific tokens in their wallets. This guide will walk you through the essentials of joining the Blast ecosystem, bridging ETH, and starting a passive income journey.

Blast Layer-2 is an Ethereum scaling solution that addresses the network's scalability challenges by offering efficient and cost-effective alternatives to the Ethereum mainnet. The Blast network was developed by the same team that created Blur, Ethereum’s leading NFT marketplace for pro traders.

What sets Blast apart is its unique feature of providing native yields for ETH and stablecoins through an auto-rebasing mechanism and collaborations with real-world asset protocols. This has driven interest from the community, securing a total value locked (TVL) of over $2.7 billion in a short time since its mainnet launch on 29 February 2024 and fostering a growing ecosystem of applications and users.

With Blast, users can bridge their ETH, engage in on-chain activities, and accrue BLAST points, a precursor to the BLAST token airdrop launching on June 26, 2024.

Blast TVL | Source: L2Beat

Native Yields: Unlike other Layer-2 solutions, Blast offers native yields on ETH and stablecoins. This distinctive feature is achieved through an innovative auto-rebasing mechanism, initially leveraging yield from Ethereum's L1 staking, primarily through Lido for ETH, and converting bridged stablecoins into USDB, Blast’s auto-rebasing stablecoin. Unlike staking, users can earn interest by only putting their ETH, USDC, and stablecoins in the wallet.
EVM Compatibility: Blast is designed to be fully compatible with the Ethereum Virtual Machine (EVM), making it easy for developers and users already familiar with the Ethereum ecosystem to adopt and use the platform.
Enhanced Transaction Efficiency and Scalability: With its mainnet launch, Blast aims to significantly improve Ethereum's transaction efficiency and scalability, addressing issues of high transaction fees and slow processing times that have plagued the network due to its popularity and widespread adoption.
Explore DeFi Innovation: Blast is not just another Layer-2 network; it's a hub for "degens" looking to explore the depths of DeFi innovation. By depositing ETH into a multisig wallet before the network's launch, early participants are now enjoying the benefits, including earning points for an upcoming BLAST token airdrop.
Leveraging BLAST Points and BLAST Airdrop: Bridging ETH to Blast initiates the accumulation of Blast Points, which is crucial for determining your share in the BLAST token airdrop. Active participation in the ecosystem, such as trading memecoins, can further increase your points tally. Moreover, engaging with various projects on Blast could earn you additional points specific to those DeFi protocols.

Connecting to the Blast Mainnet offers a combination of financial incentives, technical capabilities, and community support, making it an attractive platform for developers, investors, and users interested in the latest blockchain technology advancements. This innovative Ethereum layer-2 network enables automatic yield generation for ETH staking, on-chain Trasury Bill protocols, and stablecoin stakers. Blast network’s users have access to various tools and services, including public RPC endpoints, dedicated APIs, and comprehensive documentation. Blast also fosters a vibrant ecosystem through airdrops and incentives for users and developers.

As an EVM network, all crypto wallets compatible with Ethereum can support Blast, including MetaMask, WalletConnect, Trust Wallet, and leading hardware wallets. Here’s a step-by-step guide for connecting to the Blast mainnet using the MetaMask wallet:

Step 1: Prepare Your Wallet

Ensure you have a MetaMask wallet set up and ready. Your wallet should hold some ETH for gas fees associated with transactions on the Ethereum network.

Learn to set up your MetaMask wallet in a few minutes.

Step 2: Access Blast Interface

Go to the official Blast website and navigate to the section for connecting your wallet. Follow the prompts on the website to connect your MetaMask wallet.

Connect your MetaMask wallet to Blast network

Step 3: Bridge Assets to Blast L2

Use the platform's bridge feature to transfer assets from Ethereum's mainnet to Blast. This process involves selecting the asset you wish to bridge, specifying the amount, and confirming the transaction in your wallet.

Bridge your assets to Blast mainnet

Step 4: Stake or Participate in BLAST Airdrops

Once your assets are on the Blast network, explore opportunities to stake your ETH or stablecoins for yields or participate in airdrop campaigns to earn rewards.

Participate in the BLAST airdrop by entering your invite code

Step 5: Engage with the Blast Ecosystem

Dive into the growing ecosystem of applications and users on Blast. Look out for new projects launching on the network, which often distribute tokens and rewards to early users.

Explore the top crypto projects and dApps in the Blast ecosystem.

You can bridge ETH to the Blast mainnet to enjoy higher throughput, lower gas fees, and even earn yield on your ETH holdings while using the Blast network.

Given the inefficiencies of Blast's native bridge, resulting in high gas fees, it's advisable to consider alternatives like Rhino Finance or Orbiter Finance for bridging operations. Here's a simplified process using Rhino.Fi and MetaMask wallet as an example:

1. Visit Rhino.Fi and connect your wallet.

2. Ensure that your wallet is sufficiently funded by buying Ethereum on KuCoin and transferring your tokens to your wallet.

3. Authenticate and enable L2 access by signing through your wallet.

4. Specify the token and the chains involved in the bridging process.

5. Select ETH on Blast as the destination and initiate the bridge.

6. The bridging process can vary in time, often taking a few minutes to hours.

Note: Bridging costs between different layers can significantly vary, with inter-Layer-2 transactions being more cost-effective than those to and from Ethereum. Rhino.Fi offers a fee waiver for bridging to Blast until March 31, 2024, making it an attractive option. Always verify that the smart contract address you are interacting with for the bridge transaction is the official one listed on Rhino.fi's or Blast's official documentation or support channels to avoid sending assets to malicious contracts.

The Drawbacks of Using Blast's Native Bridge

While Blast's native bridge might seem like the direct choice, it's crucial to be aware of its limitations. Withdrawals back to the Ethereum mainnet entail a multi-step process with a significant delay, including a waiting period and a 14-day withdrawal timeframe, during which your funds won't earn any yields or rewards.

Blast Layer-2 offers a promising solution to Ethereum's scalability issues, introducing unique features like native yields and EVM compatibility. The Blast Mainnet provides a vibrant ecosystem for those looking to dive deep into the Ethereum Layer-2 space.

By following this guide to bridge ETH effectively and safely engage with the platform, you can maximize your participation and potential rewards in the Blast ecosystem. Whether you're accumulating points for the BLAST airdrop, exploring new DeFi projects, or point farming through token swaps, Blast provides a dynamic platform for the adventurous degen.

Remember, always exercise caution and perform due diligence when interacting with new projects and tokens.