Blast Network is a unique Ethereum Layer 2 scaling solution that provides native yield for ETH and stablecoins. This yield is generated automatically through ETH staking and Real-World Asset (RWA) protocols, supporting both ETH and USDB—Blast's native rebasing stablecoin. It stands out by offering a passive income stream directly on the blockchain layer.
Understanding Blast Network
Blast Network is an innovative Ethereum Layer-2 solution developed by the team behind Blur, a leading NFT marketplace for professional traders. It addresses Ethereum’s scalability challenges by offering a more efficient and cost-effective environment for transactions and smart contracts.
What makes Blast unique is its built-in yield mechanism. Unlike other Layer 2 networks, Blast allows users to earn interest simply by holding ETH or stablecoins in their wallet. This is achieved through an automatic rebasing system and integration with yield-generating protocols. Since its mainnet launch, Blast has seen massive adoption, with a Total Value Locked (TVL) exceeding billions of dollars and a rapidly growing ecosystem of decentralized applications (DApps).
How Does Blast Network Work?
Automatic Rebasing
On Blast, ETH itself undergoes native rebasing—not wrapped versions like WETH or staked assets like stETH. External owned accounts (EOAs) see their ETH balance adjust automatically over time. Smart contracts can also opt into this feature, allowing existing DApps to deploy on Blast with minimal changes.
Similarly, USDB, Blast’s native stablecoin, also benefits from automatic rebasing. Both EOAs and smart contracts can earn yield seamlessly, with smart contracts having the option to opt out if needed.
Treasury Bill Yields
When users bridge stablecoins to Blast, they receive USDB. The yield for USDB comes from MakerDAO’s on-chain Treasury Bill protocol. When bridging back to Ethereum, users can redeem USDB for DAI. In the future, the Blast community may introduce additional or alternative yield sources for USDB.
Gas Fee Sharing
Unlike many Layer 2 solutions that retain gas fee revenue, Blast programmatically redistributes net gas income back to DApps. Developers can use these funds to cover operational costs, subsidize user transactions, or reinvest in their projects.
Key Benefits of Blast Network
Native Yield Generation
Blast’s standout feature is its ability to provide native yield for both ETH and stablecoins. Users earn interest automatically without actively staking or providing liquidity. This creates a seamless passive income experience directly integrated into the network.
EVM Compatibility
Blast is fully compatible with the Ethereum Virtual Machine (EVM). This means developers can easily port existing Ethereum smart contracts and DApps to Blast, and users can interact with the network using familiar tools like MetaMask.
Improved Transaction Efficiency
By operating as a Layer 2, Blast significantly enhances transaction speed and reduces gas fees compared to Ethereum mainnet. This makes it ideal for high-frequency activities like trading, gaming, and DeFi interactions.
A Hub for DeFi Innovation
Blast has quickly become a favorite among decentralized finance (DeFi) enthusiasts. Its unique yield mechanisms and growing ecosystem offer numerous opportunities for experimentation and earning.
Earning with Blast Points and Airdrops
Users can earn Blast Points by bridging assets to the network and engaging with supported DApps. These points were a key factor in determining eligibility for the recent BLAST token airdrop. Active participation, such as trading memecoins or providing liquidity, can further boost point accumulation.
Blast Airdrop for Early Users
The Blast Network conducted a major airdrop for early users on June 26th. A significant portion of the total token supply was distributed to reward community participation. Airdropped tokens were allocated based on factors like bridged asset value, points earned, and DApp usage.
👉 Check real-time airdrop opportunities
It's important to note that some airdrop allocations, particularly for the top wallets, are subject to vesting periods. This means recipients cannot immediately sell all their tokens, promoting long-term network engagement.
How to Participate in Blast Network
Engaging with Blast is straightforward. Here’s how you can get involved:
- Bridge Assets: Transfer ETH or stablecoins from Ethereum mainnet to Blast using the official bridge. This is the first step to start earning yield and points.
- Explore DApps: Interact with popular applications on Blast to earn additional points and rewards.
- Invite Friends: Use referral programs to earn a percentage of your friends’ points, boosting your own eligibility for future rewards.
Connecting MetaMask to Blast Network
To start using Blast, you need to connect your wallet. Here’s a simple guide:
Step 1: Ensure your MetaMask wallet is set up and funded with ETH for gas fees on the Ethereum network.
Step 2: Visit the official Blast website and locate the wallet connection section. Follow the prompts to add the Blast network to your MetaMask automatically.
Step 3: Use the bridge interface to transfer your assets from Ethereum to Blast. Select the asset, amount, and confirm the transaction in MetaMask.
Step 4: Once your assets are on Blast, you can hold them to earn yield or use them within the ecosystem’s DApps.
Frequently Asked Questions
What makes Blast different from other Layer 2 networks?
Blast uniquely offers native yield for ETH and stablecoins directly at the protocol level. This means assets automatically earn interest without requiring active staking or liquidity provision.
How is the yield generated on Blast?
Yield for ETH comes from staking rewards on Ethereum Layer 1, primarily through protocols like Lido. Yield for USDB stablecoins is generated through Real-World Asset (RWA) protocols like MakerDAO's Treasury Bill investments.
What was the Blast airdrop?
The airdrop distributed BLAST tokens to early users of the network based on their activity, such as bridging assets and using DApps. It was a reward for helping bootstrap the ecosystem.
Can I still earn on Blast if I missed the airdrop?
Absolutely. The core functionality of Blast—earning native yield on assets—is ongoing. New opportunities for airdrops and points may also arise as the ecosystem expands.
Is Blast secure?
As an Ethereum Layer 2, Blast inherits the security of the Ethereum mainnet. However, as with any DeFi platform, users should exercise caution and conduct their own research when interacting with new DApps.
What can I do with my assets on Blast?
Beyond holding them for yield, you can use your bridged assets to trade, provide liquidity, play games, and participate in the broader Blast DeFi ecosystem.