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The eagerly anticipated Blast mainnet launch is set to take place on the rare date of February 29th, marking a leap forward for the ecosystem. Let’s take a look at this Blast Mainnet Launch article in more detail.
What is Blast: The only Ethereum L2 with native yield for ETH and stablecoins?
Blast Layer 2 (L2) is shaking up the Ethereum ecosystem with its groundbreaking introduction of native yield for ETH and stablecoins. With a hefty $20 million backing from Paradigm and StandardCrypto, Blast is poised to redefine liquidity efficiency within the crypto realm. But what sets Blast apart from the myriad of other Layer 2 solutions out there?
At its core, Blast operates on the belief that markets naturally incline towards efficiency. In the realm of decentralized finance (DeFi), this translates to liquidity flowing towards platforms that provide the highest yields. Blast stands out as a beacon for liquidity due to its unique offering of native yields, a feature that sets it apart from existing L2 solutions.
Blast Mainnet Launch on Feb 29
IT’S TIME TO BLAST OFF
— Blast (@Blast_L2) February 26, 2024
Mainnet. February 29.
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是时候发射了！
主网。2月29日。
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BLAST 여정의 시작.
메인넷. 2월 29일. pic.twitter.com/9jaBnFF6gw
According to the official post on X, as we get closer to the big day on February 29th, there’s a real buzz building up for Blast’s Mainnet launch. With the network getting ready to go live, it’s kicking off a whole new vibe in decentralized finance. Folks are gearing up to see how this game-changer will shake things up on the Ethereum blockchain.
Blast Mainnet Launch: Blast TVL Hits $2B
Blast has reached $2 Billion in TVL.
— Blast (@Blast_L2) February 27, 2024
157,638 community members are now earning yield + Blast Points.
Stay tuned for Mainnet, February 29! pic.twitter.com/qHUYTHhupg
Just days before its big mainnet launch at the end of this month, the Blast network on Ethereum’s layer-2 has hit a major milestone, locking in over $2.117 billion in total value.
According to DefiLlama, the amount of money locked in Blast has surged by more than 2,200% since it first went live with its bridging protocol back on November 22nd.
Most of the locked value mainly consists of Ethereum stashed by hopeful airdrop hunters. They’ve locked their Ethereum in the protocol, banking on a future airdrop of the Blast token, which the protocol’s team has hinted will likely happen sometime in May.
Although Blast achieved success in attracting funds, it also encountered criticism for its strategy of launching a bridge for deposits before the network was fully operational. This decision resulted in users being unable to withdraw their funds until the mainnet launch. Paradigm, a significant supporter of both Blast and Blur, voiced concerns about the messaging and execution of the launch.