Blast Network Prepares For Mainnet Launch With Over $2 Billion TVL

Blast, the Layer 2 network developed by Blur’s founder, recently made a significant announcement via their official Twitter handle, revealing that the mainnet is set to go live on February 29. 

To ensure a smooth transition for the mainnet release, Blast had previously made modifications to its cross-chain contract.

The excitement surrounding the launch was further heightened with the recent announcement of the BIG BANG competition results, which saw 47 winning concepts selected from a pool of over 3,000 participating teams.

Ahead of its mainnet debut, Blast has already achieved a total value locked (TVL) surpassing $2.1 billion, marking an impressive growth of over 2,200% since the launch of its bridge protocol on November 22. 

BLAST Airdrop Scheduled For May

The substantial increase in TVL is largely attributed to users who have locked in their assets in anticipation of the Blast token airdrop scheduled for May.

As a Layer 2 solution, Blast aims to address the efficiency and scalability challenges inherent in blockchain technology. Through its platform, users have the opportunity to stake their assets and earn native returns in Ether (ETH) and stablecoins.

The Blast network’s remarkable growth is evidenced by the increasing number of community members participating in the ecosystem.

Currently, 157,638 community members are actively earning yield and accumulating Blast Points, underscoring the growing interest and engagement surrounding the project.

With the mainnet launch on the horizon and a substantial TVL already secured, Blast is poised to make significant strides in the blockchain space.

As users eagerly await the official launch, the Blast team continues to prioritize innovation and user experience, laying the foundation for a robust and scalable Layer 2 solution that promises to revolutionize blockchain technology.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: chokniti/123RF // Image Effects by Colorcinch

Via: https://themerkle.com

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