Blast, an upcoming Ethereum layer-2 scaling network from the creator of leading NFT marketplace Blur, has now pulled in more than a billion dollars’ worth of deposits from users vying to earn yield and points towards an upcoming token airdrop.

Some $1.13 billion worth of cryptocurrency has been deposited into the Blast bridge as of this writing, according to both the official website and DeFiLlama, making it the 23rd largest protocol by total value locked according to the latter resource. Over 86,000 users have contributed funds thus far.

According to Blast, users are earning about a 4% annual return on deposited Ethereum (ETH) and 5% on stablecoins. Furthermore, they’re earning “Blast Points,” which will play into their respective share of the upcoming BLAST token airdrop.

According to the Blast website, the airdrop is set for May 2024.

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Author: Andrew Hayward

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