As the crypto sphere continues to evolve, the Ethereum network’s Merge has been a significant milestone. However, subsequent developments have also made their mark. One such advancement is Blast, an L2 Ethereum-based protocol, which owes its existence to the Shanghai update. This update paved the way for the withdrawal of staked Ether, introducing more flexibility for users and enabling Blast to create the first Ethereum L2 with native yield for ETH and stablecoins. This development opened doors for projects built on Blast, including the Blast Ecosystem Launchpad, Blastup, which recently went live.
The Impact of Native Yield
By incorporating native yield into its network, Blast has managed to generate a higher interest rate for its users, with 4% for Ethereum and 5% for stablecoins. The yield obtained from RWA protocols and ETH staking is automatically distributed among all Blast users. This approach ensures such rates are feasible and safeguards the value of users’ assets from depreciation. Unlike many Layer 2 protocols, gas fee revenue is not held by the network but is systematically returned to developers. This feature allowed Blast to become the first Layer2 protocol to reach $1B TVL in 35 days, gearing up for the mainnet launch in February.
The Blast Testnet and the Big Bang Competition
The Blast Testnet is already live, marking the beginning of the Blast Big Bang decentralized application competition. This contest welcomes projects at any stage, from near completion to mere ideas. Entries will be evaluated based on concept and execution, with the final criterion being ‘Blast-native’, a test of whether Blast’s native features have been utilized to create something unattainable on other chains. Registration is open, and projects can be submitted until February 21st, accompanied by a 3-minute demo video. Once submissions close, the Big Bang competition judges will review top projects on a live stream and announce the winners.
The Introduction of Blastup
A recent addition to the Blast Ecosystem Launchpad is Blastup, the first Blast-based launchpad for early-stage projects, which went live on January 17th. Blastup aims to contribute significantly to the Blast ecosystem, focusing on four main features: Project Screening, Launchpad Accelerator, Fair Distribution, and Passive Income. The first two aim to streamline organizational processes by evaluating the quality of released projects and assisting with documentation and tokenomics preparation. The latter two relate to Blastup tokens, which enable holders to access free tokens from supported projects and secure a reserved allocation for future IDO projects.
Keeping track of such dynamic developments in the crypto world can be a challenge. However, applications like cryptoview.io can help you stay updated and manage your digital assets efficiently.
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