Blast Launched Mainnet, Unlocking $2.3B Staked Assets

Blast Launched Mainnet, Unlocking $2.3B Staked Assets

Reported by Cointelegraph, around $400 million in Ether (ETH) has been taken out of the Ethereum layer-2 network Blast after the launch of its mainnet on Feb. 29 at 9:00 pm UTC — unlocking nearly $2.3 billion in staked crypto previously locked up on the network.

The optimistic rollup blockchain scaler gives users up to 5% annual percentage yield on Ether and stablecoins held on the network generated from staked ETH and United States Treasury Bills (T-Bills) managed by blockchain protocol and Dai stablecoin creator MakerDAO.

Crypto sent to the network was locked in before the mainnet launch, giving its 180,000 users no way to withdraw sent funds until now.

Blast’s total value locked (TVL) saw a high of $2.27 billion on Feb. 29, which has now fallen 17.5% to $1.87 billion after the launch with just under $400 million withdrawn, according to DeFiLlama data.

Airdrop hunters have flocked to the blockchain, farming it in hopes to be cut in on a Blast token the team has said is coming in May.

Source

Layer 2

Related News
Worldcoin Announced "Human Centric" Blockchain World Chain Worldcoin Announced "Human Centric" Blockchain World Chain
OKX Launched Ethereum Layer 2 Network X Layer OKX Launched Ethereum Layer 2 Network X Layer
Arbitrum Launched Bound Liquidity Delay Protocol on Testnet with Interactive Fraud Proofs Arbitrum Launched Bound Liquidity Delay Protocol on Testnet with Interactive Fraud Proofs
Optimism Allocating $3.3B Worth of $OP for Community Grants Optimism Allocating $3.3B Worth of $OP for Community Grants
Polygon zkEVM Suffered a 10 Hours Outage Polygon zkEVM Suffered a 10 Hours Outage
Latest News More More
8 Hours Ago DA Project Avail Confirmed Token Airdrop Plan
9 Hours Ago Tether to Launch New Businesses, Tether Data, Tether Finance, Tether Power, and Tether Edu
1 Day Ago Lido Finance Implemented Simple Distributed Validator Technology (DVT)
1 Day Ago Real Opportunity for Runes only Comes After the Initial Hype
2 Days Ago Runes Protocol Sets to Launch at the same time as Bitcoin Halving
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open