The much-anticipated launch of Blast’s mainnet on February 29th has unlocked nearly $2.3 billion in staked cryptocurrencies, marking a significant milestone for the Ethereum Layer-2 solution. This move has allowed the platform’s 180,000 users to finally access their locked crypto after a three-month period without withdrawal options.
One of Blast’s key features is its rollup blockchain scaling solution, which offers users the opportunity to earn up to a 5% annual percentage yield (APY) on Ether and stablecoins. This yield is generated from staked ETH and United States Treasury Bills, with MakerDAO managing these assets.
Despite the excitement surrounding Blast’s mainnet launch, the platform has faced criticism for its strategy and marketing tactics. Dan Robinson, Paradigm’s head of research and a seed investor in Blast, expressed concerns over the decision to delay withdrawals and the potential impact of the marketing tactics on the credibility of other projects.
Overall, Blast’s mainnet launch represents a significant step forward in the crypto ecosystem, but the platform will need to address the challenges related to its rollout and promotional strategies. In related news, StarkWare has announced Stwo, an open-source ZK prover, aimed at enhancing Ethereum’s scalability.
