On December 26, 2023, the total value of assets locked in the L2 solution Blast exceeded 1 billion dollars. Blast, launched on November 22, is a second-layer network based on Ethereum, offering users a passive income of 4-5% annually. Currently, Blast lacks developed infrastructure, except for an inter-network contract.

If Blast had its own mainnet, it would rank second in TVL among L2 networks and sixth among all blockchains. The platform has over 85,000 users, with each on average locking about $11,700.

Currently, the protocol allows depositing ETH, USDC, and other assets through a bridge to earn passive income, but withdrawals are not yet available. Withdrawals will be enabled with the launch of the main network on February 24, 2024. Currently, 1 billion dollars of user deposits are held in a multisig wallet with five signatures.

The excitement around Blast is fueled by an anticipated airdrop. The conditions for receiving the airdrop include farming internal points for deposits and participating in a referral program. Paradigm is the main sponsor of the L2 network, but its head of research, Dan Robinson, criticized the protocol for aggressive advertising and focus on token giveaways.

The founder of Blast responded to community concerns and explained how high yields are achieved on the platform. Recall that after the project's announcement and listing on Binance, the token of the NFT marketplace Blur (BLUR), also founded by Pacman, increased by 88%.