Whats Blast?

Blast L2 is an Ethereum Layer 2 platform that was launched in 2024 by the same team behind the popular NFT marketplace Blur.io. It is the first L2 to incorporate native yield for both ETH and stablecoins, meaning your balance on Blast automatically compounds and earns Blast rewards.

One of the key features of Blast is that it offers a unique reward system where users earn points for various actions, including referring friends. These points will be redeemable for tokens in a future airdrop.

The platform has already attracted significant investments, with over $1.4B TVL (Total Value Locked) and around 100,000 users. It has also been backed by prominent investors such as Paradigm and StandardCrypto.

However, Blast has faced some criticisms, including concerns about its security and dependence on other platforms like Lido Finance for its yield generation mechanism. There have also been questions about the nature of its reward and referral system, with some comparing it to a pyramid scheme.

In conclusion, Blast L2 is a new and innovative platform that offers native yield on ETH and stablecoins. While it has garnered significant attention and investment, it is not without its controversies and criticisms.