What is Blast (BLAST)?

Project is an EVM-compatible, optimistic rollup platform designed as an Ethereum layer-2 (L2) scaling solution. It offers native yield for ETH and stablecoins, providing users and developers with 4% and 5% yield rates, respectively. Enabled by Ethereum’s Shanghai upgrade, this yield is derived from ETH staked on L1 and MakerDAO’s on-chain T-Bill protocol. The project stands out with its auto-rebasing mechanism, which ensures users automatically receive these yields. Supported by the $BLAST token, the platform introduces innovative features like gas revenue sharing for Dapps, aiming to create a community-driven economy. Backed by prominent investors such as Paradigm, Standard Crypto, and Santiago R. Santos, project lays the foundation for next-generation financial models.

Blast Key Features

The project differentiates itself in the Ethereum ecosystem with its innovative features:

Native Yield

Offers 4% yield for ETH and 5% for stablecoins, compared to 0% on other L2s.

Auto-Rebasing

ETH and USDB (the project’s native stablecoin) provide yields in users’ wallets through automatic rebasing.

$BLAST Token

The platform’s governance and incentive token, $BLAST, is used for transactions and voting.

Gas Revenue Sharing

Dapps automatically share net gas fee revenue, which can be used by developers or to subsidize user gas fees.

Decentralized Governance

Token holders shape the platform’s future through DAO-based governance.

Mobile App: Blast Mobile

Offers a user-friendly experience with features like passkey authentication, gas sponsorship, and pro mode.

Robust Infrastructure

On-chain T-Bill protocols and L1 staking support the platform’s scalability and yield generation.

How Does Blast Work?

The project offers an ecosystem that enables users and developers to earn yields:

1. Auto-Rebasing: ETH and USDB automatically rebase in external wallets (EOAs). Smart contracts can opt-in to this feature.

2. L1 Staking: Enabled by Ethereum’s Shanghai upgrade, ETH yield from L1 staking via Lido is automatically transferred to project users.

3. T-Bill Yield: Bridged stablecoins are converted to USDB, which generates yield through MakerDAO’s T-Bill protocol.

4. Gas Revenue Sharing: The project distributes net gas fee revenue to Dapps, enabling new business models.

5. Governance: $BLAST token holders participate in governance through forums (Foundation Discourse) and voting platforms (Snapshot).

6. Blast Mobile: Users access the platform on iOS and Android devices with features like passkey authentication and gas sponsorship.

7. Earn App: USDB deposits earn liquid $BLAST rewards, with yields boosted up to a 6x multiplier.

The project offers a flexible structure, allowing the community to replace Lido or MakerDAO with Blast-native solutions.

Benefits to Stakeholders

• Users: Earn native yield on ETH and USDB, with easy access via Blast Mobile.

• Developers: Gain new Dapp opportunities through gas revenue sharing and yield-driven models.

• Community: Participate in governance with $BLAST tokens and contribute to ecosystem growth.

• Investors: Benefit from platform growth through $BLAST tokens and the ecosystem.

Blast Tokenomics

$BLAST is the platform’s utility token:

• Token Name: BLAST

• Total Supply: 100 billion (fixed)

• Distribution:

  • Community: 50% (linear unlock over 3 years)

  • Core Contributors: 25.5% (4-year lock, 25% unlocked after 1 year, then linear over 3 years)

  • Investors: 16.5% (4-year lock, 25% unlocked after 1 year, then linear over 3 years)

  • Blast Foundation: 8% (linear unlock over 4 years)

  • Airdrop Phase 1: 7% (Blast Points), 7% (Blast Gold), 3% (Blur Foundation)

  • Airdrop Phase 2: 2.5% (Blast Points), 2.5% (Blast Gold)

• Use Cases:

  • Payments: Transaction fees and asset purchases.

  • Governance: DAO voting.

  • Rewards: Blast Mobile Earn app and staking rewards.

• Deflationary Mechanism: Community incentives support ecosystem growth.

Roadmap

The project advances to strengthen the Ethereum L2 ecosystem:

• 2024: $BLAST token launch, Phase 1 airdrop, Blast Mobile launch.

• 2025: Phase 2 airdrop (ends January 2025, 5 billion $BLAST), Blast Mobile Dapp integrations.

Blast Investors

The project has raised a total of $20 million, backed by strong investors. Tier 1 includes Paradigm and Santiago R. Santos, while Tier 2 features Standard Crypto and eGirl Capital. Additionally, individual angel investors such as Andrew Kang, Hasu, Larry Cermak, and CL207 contribute to the project.

Blast Team

The project is led by an experienced leader. Tieshun (Pacman) Roquerre serves as the Founder, leveraging his entrepreneurial background and blockchain vision to position the project as one of Ethereum’s leading L2 solutions.

Official Links

• Website
• X (Twitter)
• Whitepaper

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What Is Linea?

Linea enhances Ethereum’s scalability by increasing transaction speed and reducing costs, delivering a more accessible experience within the Web3 ecosystem. It leverages zero-knowledge proofs (ZKPs) based on Lattice-Based Cryptography to verify transaction accuracy without revealing their details. These proofs are submitted to the Ethereum mainnet, ensuring all transactions are securely recorded in Ethereum’s ledger while significantly lowering costs. Linea not only strengthens Ethereum’s value but also supports its developer ecosystem and contributes to its long-term economic model.

Linea Ecosystem

Project is built to support a versatile ecosystem applicable across various sectors, including bridging, NFTs, centralized exchanges (CEX), wallets, infrastructure, DeFi, launchpads, data services, development tools, and entertainment.

Bridging

• Stargate: A liquidity transfer protocol built on Layer Zero, Stargate enables users to move assets securely and quickly across networks.

• Orbiter Finance: A Layer 2 cross-rollup bridge, Orbiter Finance allows fast and low-cost transfers of Ethereum and other cryptocurrencies to networks like dYdX, Optimism, and Arbitrum.

Ethereum Name Service (ENS) Integration

Project is the first zero-knowledge Layer 2 network to implement the Ethereum Name Service (ENS) EIP-3668 standard in production. EIP-3668 introduces the CCIP Read function, enabling ENS to operate trustlessly on Layer 2 networks like this project. ENS names on project follow the name.linea.eth format, allowing users to replace complex hexadecimal addresses with human-readable names, simplifying transactions. These names are issued as NFTs to the associated account.

ENS Registration Requirements

• Proof of Humanity (PoH): Accounts must pass Proof of Humanity to register a linea.eth name.

• Sufficient ETH: Enough ETH must be available on the platform to cover transaction fees.

• Single Name Rule: Each account can register only one linea.eth name.

• Registration Period: The default registration period is three years and cannot be modified.

What Sets Linea Apart?

Project enhances Ethereum’s scalability through zero-knowledge (ZK) rollup technology. Rollups process transactions on Layer 2 and batch them to the Ethereum mainnet, significantly reducing gas fees. Project’s full EVM equivalence distinguishes it from other Layer 2 networks, enabling developers to use familiar Ethereum tools (e.g., MetaMask, Hardhat, Truffle, Foundry) without code modifications, making dApp migration and development straightforward.

Project’s ZK rollups use validity proofs to verify transactions, eliminating the seven-day challenge period required by Optimistic Rollups and providing instant finality. Additionally, Project’s Lattice-Based Cryptography offers resilience against quantum computing attacks, enhancing long-term security.

Project’s Features

• Full EVM Equivalence: Developers can deploy Ethereum dApps on project without code changes.

• Low Fees and High Speed: ZK-rollup technology enables fast, cost-efficient transactions.

• Security: Maintains Ethereum’s security while adding zero-knowledge proof safeguards.

• Developer-Friendly: Integrations with tools like MetaMask and Infura streamline development.

• Economic Alignment: ETH and LINEA token burns from Layer 2 fees support Ethereum’s value and ecosystem growth.

LINEA Tokenomics

The LINEA token is an economic coordination tool designed to incentivize real usage, support aligned applications and developers, and fund Ethereum’s long-term development. Token distribution is as follows:

• Ecosystem: 85%

• Consensys Treasury: 15%

• Early Contributors: 10%

On project, ETH is used as gas, and both ETH and LINEA tokens are burned from Layer 2 fees, increasing Ethereum’s value and supporting token scarcity.

Linea’s Partners

Project collaborates with leading projects such as MetaMask, Aave, 1inch, Chainlink, Circle, ENS, Etherex, Fireblocks, Lido, Mastercard, Sharplink, and Consensys. These partnerships enable project to build a robust ecosystem across DeFi, NFTs, payment systems, and tokenization.

Linea Team

Developed by Consensys, project is led by an experienced team:

• Joseph Lubin – Founder and CEO

• Rob Dawson – Chief Technology Officer (CTO)

• Chris McKibbin – Chief Operating Officer (COO)

• Simon Morris – Chief Strategy Officer

• Cole D’Ambrosio – Chief Financial Officer (CFO)

• Mark D. Young – Chief Revenue Officer and Data Advisor

Project aims to shape the future of Web3 by enhancing Ethereum’s scalability. Combining developer ease, low costs for users, and Ethereum’s security, project plays a pivotal role in the widespread adoption of decentralized applications.

Official Links

• Website
• X (Twitter)
• Whitepaper

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

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