The yield-focused layer 2 network, Blast has secured a TVL (total value locked) of over $230 million within 48 hours of its announcement.
Blast shared the achievement in a post and claimed that a community of 37,131 members has already bridged funds to its layer 2 network. Users are earning a yield of nearly 4% on ETH and 5% on stablecoins.
The recently launched Ethereum layer 2 network, Blast, is built by the co-founder of NFT marketplace Blur and backed by prominent venture firm Paradigm. It was announced on November 21 and reached a TVL of $40 million within hours.
According to DeBank data, Blast currently has surpassed $264 million in TVL with a total of 112,984 ETH and over 31 million DAI stablecoin.
However, the transfer of funds through Blast bridge is currently one-way only as users are not able to withdraw assets until the mainnet launch in February 2024.
