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- What’s Blast?
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I’ve been in crypto for 6 years now.
In that time, I’ve seen a lot of things come and go.
“The next Bitcoin”.
“The next Ethereum.”
“The next (insert trend here).”
There are so many new things that pop up. Being able to filter out the noise is a strong skill to have and it’s kept me out of a lot of trouble over the years.
On the flip side, this can also lead me to dismiss something too quickly.
When the Blast network was announced, I scrolled past and shrugged it off as “just another layer 2 network”—but damn was I wrong.
One morning, Miles (Decentral Games CEO) kicked off our team meeting with the idea of launching on Blast. He talked about how they were doing unique things and the different ways we could leverage their network.
I started diving into their docs after that call and immediately understood why he was so bullish.
Let’s dive into the Blast network, how it works, and potential apps to check out.
What’s Blast?
Blast
Blast is a layer 2 (L2) network built on top of Ethereum.
The network is set to launch sometime next week and already has over $1.9 billion deposited in it.
In simple terms, layer 2 networks are built on top of a layer 1 network (like Ethereum) and can process transactions much quicker and cheaper.
There are a bunch of L2 networks out there like Polygon, Arbitrum, and Base—but what makes Blast unique is that it’s the first L2 to offer native yield to its users.
When you transfer ETH or stablecoins to use on the Blast, you earn 4-5% APR on your tokens by simply being on the network. No need to stake or do any extra steps. The interest is paid out in the same token and your balance automatically increases over time.
On top of that, Blast gives all gas fee revenue back to apps on their network.
This is a game-changer and it creates new business models that aren’t possible on other networks.
How Does Blast Work?
When you transfer funds to the network, Blast deposits them into Ethereum staking and real world asset (RWA) apps.
Blast then gives all that interest back to users and apps on their network. Dope, right?
New App Business Models
Blast unlocks new ways that apps can monetize and give users a better experience compared to other networks.
Some examples are:
Decentralized exchanges can earn yield from their deposits and give it back to their users.
NFT marketplaces can give all gas fees to the creators, maximizing the creator’s earnings.
Poker apps can offer 0 fees and instead monetize from users’ deposits.
And this is just scratching the surface.
Who Made Blast?
Blur is the top NFT marketplace. They started the points airdrop trend with the success of their Blur Points program. The more active you are on the platform, the more points you get, and the larger airdrop you earn.
They’ve proven to be masters at gamification and retaining users. I expect them to replicate the same success with their Blast Points program.
Blast Points and Airdrop
There currently isn’t a live token but you can earn Blast Points for an upcoming airdrop.
To earn Blast Points, you need to deposit ETH or stablecoins. The more you deposit and the longer your funds are deposited, the more points you earn.
When the network goes live, you can test out various apps to earn Blast Points.
Blast Apps
Blast held a competition where apps could enter to win a large airdrop—and over 3,000 teams applied!
Here are a couple of apps I’ve found that you can check out:
Thruster (DEX)
Blasterswap (DEX)
Particle (DEX for leverage trading)
Juice Finance (Lending)
Crypto Valleys (Farming game)
Cambria (Dueling game)
Since these are all early apps, use them at your own risk and always use a burner wallet.
They’ll be announcing the winners of their competition today. Keep an eye on those winners because they’ll most likely be giving that airdrop back to their users.
It’ll be exciting to watch this ecosystem develop and I expect there will be a lot of airdrop opportunities to come.
If you want to learn more about Blast, check out their site.
Peace,
Fifty Sat
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