Blast sets itself apart from other Ethereum-based L2 networks with native yield, which lets users earn passive income just by keeping certain tokens in their wallets. Blast, which is positioned as a stable and experimental playground, invites developers and users to make native income while interacting with DeFi, gaming, SocialFi, and NFT collections.
Crypto currency blast sets itself apart from other Ethereum-based L2 networks with native yield, which lets users earn passive income just by keeping certain tokens in their wallets. Blast, which is positioned as a stable and experimental playground, invites developers and users to make native income while interacting with DeFi, gaming, SocialFi, and NFT collections.{free nft }
What is Blast?
developed by the same talented team that created the popular NFT { crypto NFT} marketplace Blur, Blast is an Ethereum Layer-2 (L2) platform. They highlight the native yield that can be obtained by users and contributors in ETH, USDC, USDT, and DAI through their ecosystem. All you need to do to get yield is to have these crypto tokens in your wallet.Pacman, a well-known but unidentified developer, is in charge of Blast’s development. They started development by allowing interested parties to deposit money into a multisig wallet. As a result, there was over $2 billion in money available for deployment on February 29th, when the Blast mainnet launched.
By offering free crypto native yield for Ether (ETH) and other stablecoins [ crypto token ] like USDC, USDT, and DAI, Blast distinguishes itself. This feature enables these assets to produce yield on their own after they are “bridged,” or moved, into the Blast ecosystem. Blast, which markets itself as the only L2 network that helps with earnings, uses two important yield generation mechanisms:
1. To maintain network security and operations, Ethereum holders engage in ETH staking, which involves locking up their ETH. They are rewarded with extra ETH in exchange, and Blast gives users direct access to this staking yield in crypto market .
2. Including on-chain Treasury Bill (T-Bill) protocols, as demonstrated by the example provided by MakerDAO. Stablecoins automatically participate in on-chain T-Bill protocols, which resemble conventional treasury bills and offer returns over a predetermined period, when they are bridged to Blast.
By providing users with a passive income stream, Blast hopes to increase the allure of holding and using digital assets on their platform. This strategy addresses a common problem in the cryptocurrency space related to assets’ idleness and offers a way to preserve asset value while also possibly increasing it over time.
What is the earning potential on Blast?
Blast offers interest rates of 4% for ETH and 5% for stablecoins like DAI, USDC, and USDT. It’s important to emphasise that even though these yields might not be the best on the market, users can still earn interest without having to stake any assets. Just keeping these coins in their wallet earns them interest.
