blast

    

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 TVL Skyrocketing
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.

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.
Source: defillama.com/protocol/blast
From Blur to Blast
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.

Given its background, it’s unsparing that many have high expectations from the project.
Earning Yield
Blast is described as the only Ethereum L2 with native yield for ETH and stablecoins.
The yield comes from ETH staking and Real World Asset (RWA) protocols. While the default interest rate on L2s is typically 0%, it’s 4% for ETH and 5% for stablecoins on Blast, says the website.
“Your balance on Blast compounds automatically,” the team noted.

Also, users who bridge stablecoins receive USDB, Blast’s auto-rebasing stablecoin. The yield for USDB comes from MakerDAO’s on-chain T-Bill protocol. It can be redeemed for USDC when bridging back to Ethereum.
The Blast mainnet launch is scheduled for February 2024, and points redemption for May 2024.
An Entire Ecosystem
“We are seeing the ecosystem being formed right under our noses,” collector MoonCat2878 wrote.
“One of the biggest perks of being a depositor (bridger) into BLAST, is the fact that all new protocols, MEME coins and so on will want to draw that $ 1.5 billion TVL towards them.”
Meme coins are a major point here. PUMP will be one of the most recognizable meme coins from day one, said the collector, arguing that it could become a $1 billion meme coin on BLAST.
Moreover, the PUMP team plans to airdrop 10% of the supply towards bridgers. “I am sure all of the others will follow them.”

Popular digital art collector Cozomo de’ Medici recently described Blast as “one of the biggest opportunities of 2024,” “an “almost free profit opportunity,” and possibly “one of the most profitable moves I’ve made.”
“Not only I will get Blast reward points – but airdrops and things from the projects building on top of it.”
Blast, he says, is going to be its own ecosystem “that has everything.” This includes DeFi, DEXes, NFTs, memecoins, and more.
Over 3,000 teams are already building on the protocol. Blast users will be getting airdrops from many of these as well.
At the same time, says the collector, “EVERYTHING is incentivized to yield and to bring back value to bridgers.”

Blast Airdrop Incoming – Are You Eligible?
At the end of November, the team announced that the invite-only Blast Early Access is live. Participants will be rewarded with Blast Points based on how much they bridge and whom they invite.
The Developer Airdrop launched in January with the Blast Testnet.
The Blast Community Airdrop is split between Early Access Members (50%) and Developers (50%).
Those who bridge ETH to Blast start earning points immediately. These go towards the Blast airdrop, which many analysts and commenters expect to be massive.
MoonCat2878 argued the number could be around $1.5 billion, writing:
“Honestly I would be surprised if BLAST wouldn’t launch at around $15-20 billion as an entire new L2 with huge names behind it, a lot of liquidity and so many things building on top of it ready to go.”
While the airdrop amount is unknown, MoonCat2878 opined that “20% would be fair,” and 10% would be the lowest: 5% for users and developers each.
At a $15 billion valuation, the collector said, it would equate to $1.5 billion in airdrop.
Notably, Blur distributed the 5th largest airdrop in Ethereum history.
Developers Flocking to Blast
Developers seem to find Blast attractive. This indicates a future expansion of the Blast ecosystem.
The EVM-equivalent Blast said that yield enables new revenue streams and novel rewards for end-users.
“Yield as a primitive unlocks new business models for Dapps,” the website says. “Dapps can easily monetize deposits with a single config.”
Also, Blast gives 100% of revenue from gas fees back to developers.
Meanwhile, 146,579 users have deposited nearly $2 billion to Blast in anticipation of the mainnet launch. “When the Blast mainnet launches, the bridge contract will unlock and release all those users and funds to your dapps,” the website told developers.
Moreover, on January 16, the testnet went live, and with it the Big Bang Competition for developers building dapps on Blast long-term.

The deadline was February 16, and the team will announce the winners today. There were so many applicants (over 60 hours of submission videos) that the team decided to increase the number of winners per category and allocate more rewards.

“The LARGEST individual allocation of the Blast Airdrop to date will be distributed to winning teams,”  according to the team. The prizes are non-transferable.
All this said, while a project may sound attractive, understand that it comes with a set of risks and be sure to do your research.
#blast #btc #bnb #binance #eth

To take part in the Blast Airdrop and optimize your earning of Blast Points, follow these essential steps:
Obtain a Blast Invite Code: Start by securing an invite code, which you can find on the Blast official website or their Discord channel. This code is essential for registering with Blast.Link Social Media and Wallet to Blast: With your invite code in hand, link both your Twitter account and cryptocurrency wallet to Blast. Also, becoming an active member of their Discord server will keep you informed and connected with the community.Bridge Assets to Blast Layer 2: Increase your Blast Points by transferring assets such as ETH and stablecoins to Blast’s Layer 2. Supported cryptocurrencies include ETH, USDC, USDT, and DAI. Keep in mind, these assets are only accessible for withdrawal post the launch of Blast Mainnet, slated for February 2024.Refer Friends to Join Blast: Enhance your points tally by inviting friends to Blast. Your points grow when friends you invite bridge assets using your referral link.Stay Updated via Blast’s Social Media: For the latest news and updates, follow Blast on their Twitter and Discord platforms.Bridge Assets and Earn Spins for Airdrop Points: Proceed to the Bridge section after linking your wallet and move assets from Ethereum to Blast L2. Each ETH deposit per week earns you a spin, unlocking a certain number of airdrop points. More bridges by you and your referrals mean more spins and points.Convert Points to Blast Tokens: In May 2024, you’ll have the opportunity to convert your accumulated airdrop points into Blast tokens.
Being proactive and informed within the Blast community is key to maximizing your Blast Points. Remember, the tokens you bridge will be locked until the mainnet launch in February 2024. As always, exercise due diligence and research thoroughly when participating in crypto airdrops and activities.
For detailed information and the latest updates, refer to the official Blast website and their profiles on crypto airdrop platforms.

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#blast #blur $BLUR $ARB $ETH #AirdropOpportunity #whale

Cointelegraph _ Markets Outlook

It’s “do or die” for Bitcoin this week, traders say; bulls are doing their best to leave last week’s dive to $109,700 in the past.
A rebound from the largest liquidation rout in crypto history was broadly expected. Stocks futures led the way at the open, while gold even managed new all-time highs.
Bitcoin, though, has its own issues. Bids remain weak, while a looming support trend line could still vanquish the bull market altogether.
Is it really that bad? The reset of open interest has removed a huge chunk of speculation from the market, something that many say was long overdue.
Meanwhile, long-term perspectives still favor the emerging “debasement trade” as a winning bet for crypto and other risk assets.
The undoing of the US dollar’s value, coupled with inflation and exploding government debt, is making assets’ appeal all the more obvious in the current climate.
On the topic of inflation, data covering it remains absent in the US thanks to the government shutdown, thus putting the spotlight on Federal Reserve Chair Jerome Powell as he takes to the stage this week.
Will confirmation of interest-rate cuts be enough to boost the crypto and risk-asset comeback rally?
As hodlers lick their wounds after last week’s shock, Cointelegraph takes a look at the main topics moving markets in the coming days.
Continue reading to discover five things traders are talking about when it comes to Bitcoin, crypto and more.

A highly suspicious #liquidity cascade
Rumors of market manipulation abound this week as markets crawl back from a shock liquidity flush.
At nearly $20 billion — and possibly more — crypto’s chunk left many out of pocket at the most unexpected time.
With implied volatility spiking, all eyes are on US President Donald Trump — and his social media accounts.

Rekt or ready for #Blast - off?
Where to next for BTC price action? Traders are far from united on the outlook.
The entire bull market could easily die off, one forecast says, with a key support trend line in focus.
Bulls, meanwhile, need to reach for the moon — in this case, the all-important $120,000.

#Leverage , be gone!
Amid the chaos, something to (possibly) be thankful for: a giant crypto leverage washout.
Funding rates returned to 2022 bear-market lows, with open interest on Bitcoin futures alone dropping by over $10 billion.
Not a cause to celebrate, Glassnode warns: Shorts still pose a risk to recovery.

It’s all about #Fed Chair Powell
Markets may end up spared from macro data shocks this week, again courtesy of the ongoing US government shutdown.
Instead, Fed Chair Powell has his work cut out as he delivers a speech on the economic outlook.
Markets are currently very comfortable expecting another interest-rate cut this month.

Keyword “ #debasement ”
Accounts may be blown, but the so-called “debasement trade” is still on.
Crypto and other assets still feature as a long-term play against fiat currency devaluation — as evidenced by yet another all-time high for rampant gold.
Zooming out, the picture appears to favor the bulls.

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In the rapidly evolving world of decentralized finance (DeFi), the demand for reliable, real-time data has never been more critical. Enter RedStone Finance, a game-changing platform that's redefining how data is accessed and utilized across blockchain applications. At its core, RedStone Finance addresses a pivotal challenge within the DeFi ecosystem—providing secure, accurate, and scalable oracle services that empower developers and enhance the user experience.
A New Era of Data Oracles
RedStone Finance's cutting-edge approach to data oracles sets it apart from traditional models. Leveraging advanced algorithms and a commitment to customization, RedStone delivers bespoke data feeds tailored to the unique requirements of each DeFi application. This not only ensures the relevancy of data but also dramatically reduces the latency and costs associated with data retrieval.
The Importance of Customization
The ability to customize data feeds is a cornerstone of RedStone Finance's innovation. By allowing developers to specify exactly what data they need, how often they need it, and in what format, RedStone is enabling a level of efficiency and precision previously unseen in the DeFi space. This flexibility is crucial for the development of sophisticated applications that can adapt to changing market conditions and user demands.
Security and Reliability at the Forefront
In the world of blockchain, security and reliability are paramount. RedStone Finance has implemented rigorous security measures to ensure that the data provided is not only timely but also tamper-proof. This commitment to integrity is vital for maintaining trust within the DeFi community and for the overall success of blockchain applications relying on RedStone's oracle services.
Impact and Future Prospects
The impact of RedStone Finance on the DeFi ecosystem is profound. By offering a more flexible, secure, and cost-effective solution for data oracles, RedStone is paving the way for a new generation of blockchain applications. As the DeFi sector continues to grow and evolve, the role of innovative platforms like RedStone will be crucial in shaping its trajectory.
Looking ahead, RedStone Finance is poised to expand its offerings and continue its mission to solve some of the most complex challenges in the DeFi space. With a commitment to innovation and a clear vision for the future, RedStone is not just participating in the DeFi revolution—it's leading it.

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To use your invitation code KW7S1 for the Blast Layer Two project, you can follow these general steps:
Step 1: Access Blast.io Official Website
Begin your journey by accessing the official Blast Layer Two project website. Open your web browser and enter the URL: https://blast.io/KW7S1 . This will direct you to the homepage where you can find various project details and the sign-up or login option.
Step 2: Enter Your Invitation Code on Blast.io
Once on the Blast.io homepage, look for the registration or sign-up section. It’s here where you’ll need your invitation code. Enter KW7S1 in the designated field. This code is crucial as it unlocks exclusive access to the platform's features and possibly, participation in special programs such as airdrops or early access events.
Step 3: How to Connect Your Wallet to Blast.io
After entering your invitation code, the next critical step involves connecting your digital wallet. Most blockchain platforms like Blast will require you to integrate a wallet such as MetaMask, Trust Wallet, or others. This integration allows you to manage transactions and interact with available DApps. Typically, you’ll find the option to connect your wallet in the user profile or settings section of the website.
Step 4: Completing Your Blast.io Registration
Complete any additional requirements necessary for full integration into the Blast platform. This may include linking social media accounts like Twitter or Discord to enhance community interaction or completing specific tasks or challenges set out by the platform. These steps are often necessary to verify your account and increase your engagement and trust within the platform community.

For more updates and interaction, follow Blast on Twitter at @Blast_L2.
By following these steps, you’ll be well-prepared to use and enjoy the Blast.io platform. Always ensure to check the official Blast website or their customer support for any updates or changes to the registration process.
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