Blast (BLAST) is a layer 2 solution for the Ethereum blockchain. It aims to increase transaction efficiency and scalability by processing transactions off-chain, which reduces costs and speeds up the network. This makes it more viable for Ethereum-based projects.
One unique feature of Blast is its native yield offering. Users can earn interest on their deposited ETH and stablecoins directly on the platform. This yield is generated through partnerships with platforms like Lido and MakerDAO, offering up to 4% interest on ETH and 5% on stablecoins.
Blast launched its mainnet in February 2024 and has quickly amassed over $2 billion in total value locked (TVL). It also includes features like gas subsidies for developers and a focus on NFTs, benefiting from its association with the Blur NFT marketplace. Despite some controversy around security and the launch process, Blast continues to attract significant interest from the crypto community.
