Blast, the to-be-launched layer 2 network, has hit $1.1 billion in deposits a month before its mainnet release, which is to go live in February 2024.
The Blast team announced in a Twitter post that Blast has reached $1.1 billion in TVL with deposits from 85,836 users, bridging 427,672 ETH and 104 million DAI stablecoins. All these funds are bridged to Blast while being attracted by its upcoming Airdrop and backing from prominent crypto VC firm Paradigm.
According to data from DeBank, Blast Contract currently has $1.13 billion worth of deposited assets, which includes $1.03 billion of ETH staked in Lido and $108 million in DAI deposited in MakerDAO’s DSR vaults.
Blast was developed by the pseudonymous founder of Blur NFT marketplace, Pacman, and it was announced on November 24. Users who deposit funds to Blast are offered nearly 4% yields on ETH and 5% yields on stablecoins, along with Blast Points for airdrop.
Also Read: ETH Staking Protocol Swell Sees 150% Surge In TVL This Month
