Blast

Blast is an Ethereum layer 2 network that introduces native yield, allowing users to earn yield just by holding certain cryptos in their wallets. It aims to improve revenue for network users and offers a 0% interest rate. Besides, the network provides high-speed transactions, low fees, and a seamless ecosystem for users and developers. The network is powered by its native token, BLAST.

Tieshun Pacman Roquerre, the creator of the NFT marketplace Blur, founded Blast in 2024.

• Low transaction costs: One of the most attractive features of the Blast network is its low fees, which makes it a network of choice for micro-transactions and frequent transfers.

• BLAST token: BLAST is the heart and soul of the Blast network, facilitating all transactions within the network. Users can also stake the token and participate in governance.

• High transaction speed: Being a layer 2 network leveraging optimistic roll-up technology, the Blast Network can handle a large volume of transactions per second (TPS) countering scalability issues on the Ethereum blockchain.

• Native yield: Blast provides native yield with a 4% interest rate on ETH deposits and 5% on stablecoins such as USDT, USDC, and DAI.

BLAST is a relatively new crypto having launched its mainnet only in February 2024. The BLAST token was airdropped on 26 June 2024, creating a splash in the crypto space. However, within minutes of the airdrop, many recipients sold their BLAST tokens, which led to a drop in price. The token has since remained bearish, but with the current uptrend in the crypto market experts anticipate the token to make strides and reach $0.029 by 2030.

You can trade in BLAST on CoinSwitch by downloading the app.

• BLAST can be exchanged, bought, or sold from a crypto exchange like CoinSwitch. 

• The token can be staked to earn staking rewards. 

• Token holders can also participate in network governance. 

• BLAST powers the platform’s yield distribution system for ETH and stablecoins.

• Blast can process thousands of transactions per second at a lower cost. 

• Blast enhances transaction efficiency and scalability on the Ethereum network.

• Blast provides 4% interest on ETH and 5% on stablecoins like USDC, USDT, and DAI simply by holding these coins in their wallets.

• BLAST is a relatively new crypto token prone to extreme volatility.

• As a new crypto, BLAST might take some time to gain widespread recognition and adoption.

• It faces strong competition from other established Layer 2 networks like Arbitrum and Optimism.

• To trade BLAST on CoinSwitch, download the app. 

• You can start with just ₹100.

• CoinSwitch offers an easy-to-use platform suitable for traders of all levels.

BLAST was airdropped to the community on 26 June 2024. The Blast token launched at $0.025, valuing the Phase One airdrop’s 17 billion tokens at $430 million, with $354 million allocated to Blast users. The crypto garnered significant interest from venture capitalists, raising $20 million from investors such as Paradigm, Standard Crypto, and other notable crypto investors.