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A Quick Overview of Blast L2
Niklas Polk
Key Takeaways
6 min read
  • Blast L2 has had over $230m TVL inflow in 2 days, catapulting it into the top 15 chains by TVL.
  • The airdrop mechanics are not straightforward, but the report describes strategies for maximizing airdrop farming, like the 3-wallet-strategy. With 75% of wallets depositing less than $1k, this strategy seems to already have found widespread application.
  • Many aspects of the launch have resemblance to a pyramid / ponzi scheme, but so far it has been successful in driving deposits. It remains to be seen if the project manages to sustain long-term interest beyond the airdrop.
  • For now Maker and Lido are used for earning yield for Blast, and might profit from it's success.


Blast, an emerging Ethereum Layer 2 (L2) solution, stands out by introducing native yield generation for ETH and stablecoins. Blast strongly emphasizes countering asset depreciation by offering interest rates of 4% for ETH and 5% for stablecoins deposited on the network. The project attracted significant investment, raising $20 million from influential backers such as Paradigm, Standard Crypto, eGirl Capital, Primitive Ventures, and Andrew Kang.

The project's development is spearheaded by Pacman, who founded Blur, a leading NFT marketplace on Ethereum. They recently opened deposits and airdrop farming, attracting over $230m TVL so far.

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