Blast’s TVL is Fast-Approaching $2 Billion – Check Eligibility for the Airdrop Here
A new project has taken the Cryptoverse by storm. Ethereum Layer 2 Blast’s TVL is nearing $2 billion ahead of its mainnet launch and an upcoming Blast airdrop at the end of the month. Notably, commenters argue that the protocol – created by the BLUR team – already has an entire ecosystem ready to go.
Let’s dive deeper.
Blast was introduced on November 21.
Within 48 hours, the team said Blast TVL reached $230 million, with 37,131 users earning yield.
Moreover, that number hit $570 million within a single week.
.@Blast_L2 has achieved a $1 billion TVL in just 35 days, making it the fastest blockchain to reach this milestone pic.twitter.com/1GJmLTpvN7
— Coin98 Analytics (@Coin98Analytics) December 29, 2023
By Friday morning (UTC), Blast’s TVL reached a whopping $1.841 billion.
Hence, given its current trajectory, it’s reasonable to expect it could hit $2 billion in a matter of days.
Blast was created by the team behind the top NFT marketplace BLUR. More specifically, Tieshun Roquerre (aka Pacman) created both.
Blur has quickly risen as a competitor to OpenSea. Currently, it has $36.52 billion in total volume compared to OpenSea’s $9.03 billion, per DappRadar.
Meanwhile, the team members hail from FAANG, Yale, MIT, Nanyang Technological University, and Seoul National University. They have worked on major protocols in DeFi and Web3.
Moreover, Blast is backed by, among others, Paradigm and Standard Crypto, raising $20 million from them.
Excited to collaborate with Paradigm on this! https://t.co/TZbU9nKcg1
— Blast (@Blast_L2) December 8, 2023
Given its background, it’s unsparing that many have high expectations from the project.
Blast is described as the only Ethereum L2 with native yield for ETH and stablecoins.
The yield comes from ETH
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