Blast (BLAST) is a cryptocurrency token associated with the Blast blockchain, an Ethereum Layer 2 (L2) scaling solution launched in February 2024. Designed to improve the decentralised finance (DeFi) experience, Blast combines scalability, efficiency and innovative yield-generating features.
Blast offers a native 4% yield on ETH and 5% on stablecoins like USDT, USDC and DAI. It uses optimistic roll-up technology to process transactions off-chain, increasing throughput and reducing gas fees. Auto-rebasing automatically adjusts users' ETH balances to reflect staking yields from L1 systems like Lido.
The Blast ecosystem provides developers the tools they need to develop decentralised applications (dApp), while users can earn BLAST tokens through referrals, deposits, and engagement with dApps.
BLAST tokens power governance, allowing holders to vote on protocol upgrades and ecosystem development. They are also used to pay transaction fees and can be staked to earn rewards and contribute to network security.