blast, Ethereum layer 2 scaling network From the founder of a leading company NFT Marketplace Blur launched its mainnet on Thursday afternoon, finally unlocking billions of dollars worth of crypto assets that users had locked up to earn staking and airdrop rewards.
According to Blast's website, more than $2.3 billion was staked on the bridge from the Ethereum mainnet to Blast just before the scaling network went online.Blast is revealed in Novemberin parallel with the Bridge and Benefits campaign.
This total has risen rapidly in recent days, in part as traders sought to raise funds for Blast to take advantage of the increase in projects scheduled to launch on the network. air drop Tokens and rewards for early users.
Additionally, the rise in Ethereum prices in recent days has increased the value of what is already staked.ethereum Prices have increased by 12% Last week, as Bitcoin further expanded the market, Which has skyrocketed? The price rose to about $64,000 on Wednesday.
Some Blast users may keep funds on the network to take advantage of newly launched apps and protocols, as well as ongoing staking rewards and airdrop perks. However, other users have withdrawn their funds into the crypto market, and the crypto market has seen significant gains overall. The end of last year.
according to On-chain data dashboard As of this writing, total funding for Blast is less than $1.9 billion, according to analysis firm Arkham Intelligence.
Blast will award “airdrop points” to users in May. This relates to future token launches centered around scaling networks. It competes with other Ethereum scalers. Arbitrum, optimism, baseand polygon—But the incentive model splashed the blur on top A central figure in the NFT world, founder Tieshun “Pacman” Roquerre and team should expect the same from Blast with its scaling network.
Blast's launch was not without controversy.Cryptocurrency traders and builders alike criticized Blast's approach He questioned the framework of the incentive model for launching a bridge where users would not be able to withdraw their funds for months.
In November, Dan Robinson, head of research and general partner at venture capital firm Paradigm, which co-led Blast's $20 million seed round, wrote that the company was considering “an announcement this week.” Crossing the line in both messaging and execution”
He also criticized the decision to lock up funds for several months, saying “a lot of marketing is cheapening the work of serious teams”. Blast founder Pacman acknowledged that Paradigm asked for “changes” to be made to the launch plan, but said it was ultimately Blast's decision.
Edited by Ryan Ozawa.
