Blast — An L2 Project Launched by the Founder of BLUR, Featuring Native Yield

Blast is a Layer 2 network founded by Pacman, the founder of Blur, employing the Optimistic Rollup mechanism. With the launch of Blast, Pacman also announced that the project has secured a $20 million investment. This investment involves participation from various angel investors such as Paradigm, Standard Crypto, eGirl Capital, Mechanism Capital, Andrew Kang, strategic advisor at Lido; Hasu, and Larry Cermak, CEO of The Block.

As a Layer 2 solution, Blast aims to create not just an execution environment but also a platform where funds within accounts can earn passive income. Blast supports users in staking ETH and stablecoins, allowing them to generate passive returns. Specifically, when users bridge ETH or stablecoins to Blast, the platform stakes ETH through Lido to earn yields and stakes stablecoins through MakerDAO to earn yields as well.

Currently, users can join by using an invitation code. At this stage of participation, apart from earning passive income, users can also earn Blast Points. Blast Points can be converted into tokens in May.

It's important to note that depositing ETH or stablecoins may temporarily restrict withdrawals. Blast plans to launch the mainnet on February 24 next year and enable withdrawals. Additionally, the redemption of Blast Points will be available from May 24.