{"id":"blast","hidden":false,"ipfs":"QmZZr2RZSt9nkQBAJWinfZWHDBXuMFdDxU3Je32ErdqLQP","language":"en","transactionHash":"0xa6070253d3451325583f5406af3ac3d5dd88c59a2be1880221a361b942041154","created":"2024-06-19T16:36:33.986Z","updated":"2024-08-18T19:38:37.263Z","title":"Blast","summary":"An Ethereum Layer-2 network boosting scalability and transaction efficiency, offering native yield for assets through automated staking and liquid stak...","content":"**Blast** was an [Ethereum](https://iq.wiki/wiki/ethereum) [Layer 2](https://iq.wiki/wiki/layer-2) network launched in February 2024 by Tieshun Pacman Roquerre, founder of [Blur](https://iq.wiki/wiki/blur). The network introduced native yield for supported assets and was designed to improve Ethereum scalability and transaction efficiency.  [\\[1\\]](#cite-id-xmoatn1als) \n\nOn October 2, 2026, Blast announced that it would wind down operations, citing unsustainable operating costs that exceeded the revenue generated by the network. Users are being directed to withdraw their assets to Ethereum mainnet, with the standard withdrawal interface available until October 26, 2026. [\\[16\\]](#cite-id-857LevQ9G8uEc7Zy) \n\n[YOUTUBE@VID](GMO4Stv749k)\n\n## Overview\n\nBlast operated as an [EVM](https://iq.wiki/wiki/ethereum-virtual-machine-evm)-compatible [optimistic rollup](https://iq.wiki/wiki/optimistic-rollup) solution, increasing Ethereum's transaction throughput while reducing costs compared to the mainchain. Unlike traditional Ethereum staking, where users manually lock tokens for rewards, Blast automates this process. Assets bridged to Blast are automatically staked, generating yields distributed as ether (ETH) or stablecoins (such as [USDT](https://iq.wiki/wiki/tether), [USDC](https://iq.wiki/wiki/usdc), and [DAI](https://iq.wiki/wiki/dai)) directly to users' wallets.\n\nThe platform offered a 4% yield on ETH and a 5% yield on stablecoins, compounded over time based on the Risk-free Interest Rate (RFR) yield structure. ETH yield is sourced through liquid staking partnerships, leveraging Ethereum's [proof-of-stake (PoS)](https://iq.wiki/wiki/proof-of-stake) model. Meanwhile, stablecoins earn yield through protocols like MakerDAO's T-bill mechanism, enhancing asset value preservation and growth within Blast's ecosystem.\n\n## Features\n\nBlast's native yield mechanism stood out in the L2 landscape by allowing users to earn without actively staking assets, contrasting with other L2 networks primarily focused on scalability. This approach not only incentivizes long-term asset holding but also integrates [DeFi](https://iq.wiki/wiki/defi), gaming, SocialFi, and [NFT](https://iq.wiki/wiki/non-fungible-token-nft) ecosystems into a unified platform for users and developers alike. [\\[2\\]](#cite-id-xibxp22dwls)​\n\n## ![](https://ipfs.everipedia.org/ipfs/QmcUJFEZVUvZqrbA8skUaxEDqMyL63HPxihqcHgZW1wMTK)\n\n## Tokenomics\n\n### Overview\n\n* **Ticker:** BLAST\n* **Total Supply:** 100 Billion\n\n### Token Distribution\n\n**1. Community (50%)**\n\n* **Amount:** 50,000,000,000 BLAST\n  50% of the total BLAST supply is allocated to the community. This allocation is distributed through various incentive campaigns and unlocks linearly over 3 years from the Token Generation Event (TGE), following schedules set by the Blast Foundation.\n\n**2. Core Contributors (25.5%)**\n\n* **Amount:** 25,480,226,842 BLAST\n  Tokens for core contributors are subject to a 4-year lockup period. 25% unlocks 1 year after the TGE, with the remaining tokens unlocking linearly each month over the following 3 years.\n\n**3. Investors (16.5%)**\n\n* **Amount:** 16,519,773,158 BLAST\n  Investor tokens have a 4-year lockup period, with 25% unlocking 1 year after the TGE, followed by a linear monthly unlock over the subsequent 3 years.\n\n**4. Blast Foundation (8%)**\n\n* **Amount:** 8,000,000,000 BLAST\n  The Foundation's allocation is reserved for infrastructure and ecosystem growth. These tokens unlock linearly over 4 years from the TGE.\n\n**5. Phase 1 Airdrop Allocation**\n\n* **Blast Points (7%)**\n\n  * **Amount:** 7,000,000,000 BLAST\n    Users who bridged [ETH](https://iq.wiki/wiki/ethereum) or [USDB](https://iq.wiki/wiki/usdb-blast-network) to Blast and contributed to initial liquidity earned Blast Points during Phase 1. These users will receive 7% of the total BLAST supply.\n* **Blast Gold (7%)**\n\n  * **Amount:** 7,000,000,000 BLAST\n    Users who contributed to [Dapps](https://iq.wiki/wiki/decentralized-application)' success earned Blast Gold and will receive 7% of the total BLAST supply.\n\n**6. Vesting**The top 0.1% of users (approximately 1000 wallets) will vest part of their [airdrop](https://iq.wiki/wiki/airdrop) linearly over 6 months, contingent on meeting a monthly Points threshold based on Phase 1 activity.\n**7. Blur Foundation (3%)**\n\n* **Amount:** 3,000,000,000 BLAST\n  The Blur Foundation will receive 3% of the total BLAST supply for distribution to the Blur community for both retroactive and future airdrops.\n\n![Tokenomics (1).png](https://ipfs.everipedia.org/ipfs/QmU1aiCVJArppqHUSmf5BVVG7gUEBji9iwKT5K2PAud1dK \"Tokenomics (1).png\")\n\n* BLAST [tokenomics](https://iq.wiki/wiki/tokenomics) is designed to distribute tokens in a way that supports the community, incentivizes contributors, and attempts to ensure sustainable growth of the Blast Network ecosystem through allocation and vesting schedules. [\\[6\\]](#cite-id-yhkziru75t)\n\n## The Blast Airdrop\n\nThe Blast [Airdrop](https://iq.wiki/wiki/airdrop) was an integral part of Blast’s community engagement strategy. It is structured into two distinct point systems: Blast Points and Blast Gold. \n\n### Phase 1\n\nThe initial phase of the Blast [airdrop](https://iq.wiki/wiki/airdrop) began on June 26, 2024, distributing 17% of the total token supply to early users. This distribution was part of the [Ethereum](https://iq.wiki/wiki/ethereum) [Layer 2](https://iq.wiki/wiki/layer-2) Blast network’s launch for early adopters, as announced on June 25, 2024. Of the total supply, 7% was allocated to users who bridged Ether (ETH) or US Dollar Blast ([USDB](https://iq.wiki/wiki/usdb-blast-network)) to the network. Another 7% was distributed to those who contributed to the success of [decentralized applications (DApps)](https://iq.wiki/wiki/decentralized-application) on Blast, and 3% was allocated to the Blur Foundation for future airdrops to its community.\n\nAn accompanying report detailed that wallets ranked in the top 1,000 in terms of points would vest part of their [airdrop](https://iq.wiki/wiki/airdrop) linearly over six months, preventing these accounts from selling all their tokens immediately. The Blur Foundation plans to distribute its share of the token rewards to traders and holders who have used or will use its platform. One percent of the total supply will go to traders and holders in Season 3, 0.5% will be reserved for Season 4, and another 0.5% will be reserved for future use. The remaining 0.5% has not been specified.\n\nIn total, 50% of the Blast token supply is planned to be distributed to the community, with 17% released in Phase 1. The remaining 33% will be distributed in subsequent phases to be announced later. Additionally, 25.5% of the total supply is allocated to core contributors, 16.5% to investors, and 8% to the Blast Foundation to support infrastructure development and ecosystem growth. Tokens given to core contributors, investors, and the foundation are vested and unlocked over a four-year period. [\\[4\\]](#cite-id-h2v82y44arb)​[\\[5\\]](#cite-id-9n5x45ovvp6)​[\\[7\\]](#cite-id-qzoqze39nvg)​[\\[8\\]](#cite-id-gkdfjh4c6b8)​[\\[9\\]](#cite-id-8s3jzek6mgm)​\n\n### ![c3a5b5f2-2fb8-4d56-8276-890979da928b.png](https://ipfs.everipedia.org/ipfs/QmVYr61Pf4eYm1pSZDscTVGU1XS2nfVFayaAMpjERJSgmQ \"c3a5b5f2-2fb8-4d56-8276-890979da928b.png\")\n\n## Phase 2\n\nPhase 2 of the Blast [airdrop](https://iq.wiki/wiki/airdrop) involved the allocation of 10 billion BLAST tokens to build the Fullstack Chain. This phase will continue until June 2025, spanning 12 months. Half of the Phase 2 rewards are allocated to Blast Points, while the other half is allocated to Blast Gold.\n\n#### Wallet Balance\n\n50% of Phase 2 rewards are allocated to Blast Points. Wallets earn points automatically every block based on their [ETH](https://iq.wiki/wiki/ethereum), [WETH](https://iq.wiki/wiki/weth-wrapped-eth), or [USDB](https://iq.wiki/wiki/usdb-blast-network) balance, which is reflected in real-time on the Blast.io dashboard. To increase points, users can bridge more assets to Blast. Points earnings grow over time as wallet balances increase due to the native yield on Blast (approximately 4% for ETH/WETH and 5% for USDB).\n\nETH and WETH balances earn points at a constant rate, while USDB and BLAST balances earn points at a variable rate depending on the current price of ETH. The conversion rates for USDB/ETH and BLAST/ETH for points are updated whenever accounts receive or send USDB or BLAST. Additionally, BLAST earns points at twice the rate of ETH/WETH/USDB.\n\n##### Dapps\n\n​[Dapps](https://iq.wiki/wiki/decentralized-application) earn points at the same rate as wallets based on their [TVL](https://iq.wiki/wiki/tvl). When users transfer ETH, WETH, or USDB from their wallets to Dapps, the Dapps start earning points based on the transferred amounts. Dapps are expected to distribute the points they earn back to users through integration with the Blast Points API.\n\n##### Multipliers\n\nMultipliers increase both points balance and earnings rate. For example, if a user has 100 points and earns 20 points per hour, a 2x multiplier would double both the points balance and earnings rate. Multipliers are released over time, with only 12 available before points redemption in June 2025. Users can earn multipliers by interacting with [Dapps](https://iq.wiki/wiki/decentralized-application).\n\n##### Earn Gold\n\n50% of Phase 2 rewards are allocated to Blast Gold. Unlike points, gold is distributed manually by the Blast incentives committee on a bi-weekly basis. Gold is intended to incentivize [Dapp](https://iq.wiki/wiki/decentralized-application) growth, with Dapps required to give 100% of any gold they earn to their users via integration with the Blast Points API.\n\n##### Dapp Incentives\n\nPhase 2 incentives are split between Blast Points and Blast Gold. Blast Points are distributed automatically every block based on balances of [ETH](https://iq.wiki/wiki/ethereum), [WETH](https://iq.wiki/wiki/weth-wrapped-eth), [USDB](https://iq.wiki/wiki/usdb-blast-network), and BLAST. Blast Gold is distributed manually to [Dapps](https://iq.wiki/wiki/decentralized-application) by the Blast Foundation. Points reward liquidity, while gold is used as an incentive for Dapp growth. Dapps should redistribute points and gold to their users via the Blast Points API. [\\[10\\]](#cite-id-ky6g6oj2n8)​[\\[11\\]](#cite-id-7vnt9s7u4r6)​[\\[12\\]](#cite-id-xhajo0xsw7m)​[\\[9\\]](#cite-id-8s3jzek6mgm)​\n\n[YOUTUBE@VID](3GSzgMgS9FA)\n\n## Withdrawal Time Reduction\n\nBlast reduced the withdrawal time for bridging assets from Blast to the [Ethereum](https://iq.wiki/wiki/ethereum) [Mainnet](https://iq.wiki/wiki/mainnet) to seven days, down from the previous 14 days. This change was implemented following an analysis of withdrawal activity over the past four months, which indicated that a smaller buffer would still meet nearly all withdrawal requests.\n\nThe network announced this update via a social media post on July 16, 2024, explaining that the adjustment aims to enhance efficiency and user experience on its platform. The previous 14-day bridging period was initially implemented to provide a buffer for [Lido](https://iq.wiki/wiki/lido-staked-ethereum-steth) withdrawals, which Blast relies on for [Ethereum](https://iq.wiki/wiki/ethereum) yield. However, the recent analysis showed that this extended timeframe is no longer necessary.\n\nDespite this improvement, Blast noted that in rare cases, the bridging process might still take more than seven days. The reduction in bridge time applies exclusively to transfers from Blast to the [Ethereum](https://iq.wiki/wiki/ethereum) [Mainnet](https://iq.wiki/wiki/mainnet), while transfers from Ethereum to Blast continue to be processed in just a few minutes. This change is expected to enhance liquidity and flexibility for users engaging with the Blast network for their [blockchain](https://iq.wiki/wiki/blockchain) transactions. [\\[13\\]](#cite-id-9628z3ph0m)​[\\[14\\]](#cite-id-31pnti4tdhq)​[\\[15\\]](#cite-id-3lc5wiwymyi)​\n\n## Shutdown of Blast (2026)\n\nOn October 2, 2026, Blast announced that it would wind down its Layer 2 network after determining that the economics of operating the chain were no longer sustainable. The team said the ongoing costs of maintaining Blast exceeded the revenue generated by the L2 and that it did not see a credible path toward achieving economic sustainability. [\\[16\\]](#cite-id-857LevQ9G8uEc7Zy) \n\nAs part of the shutdown, Blast is directing users to withdraw their assets to Ethereum mainnet, including balances held in the Blast PWA. The withdrawal delay will be reduced to 24 hours once the initial withdrawal process is completed. Blast first plans to withdraw its Lido assets, a process expected to take approximately one week, during which withdrawals will be temporarily unavailable.\n\nUsers will be able to withdraw through the standard Blast interface until October 26, 2026. After that date, assets will remain recoverable through the Blast bridge contracts on Ethereum's Layer 1, with detailed instructions to be provided by the team. Blast has encouraged users to complete their withdrawals before the October 26 deadline. [\\[16\\]](#cite-id-857LevQ9G8uEc7Zy) \n","recentActivity":null,"operator":{"id":"0x212Cb3F4aE6611054637f9f78F18fB628AD258bb"},"categories":[{"id":"projects-and-protocols","title":"Projects & Protocols"}],"tags":[{"id":"Layer 1"},{"id":"Infrastructure"}],"images":[{"id":"QmbMxChTZZe1NNkwjQFriCBVpFSZXrC9191A56UZHX2Pea","type":"image/jpeg, image/png"}],"media":[{"name":"Screenshot 2024-06-19 120931.png","id":"QmcUJFEZVUvZqrbA8skUaxEDqMyL63HPxihqcHgZW1wMTK","size":"0.11","type":"GALLERY","source":"IPFS_IMG"},{"name":"GMO4Stv749k","id":"https://www.youtube.com/watch?v=GMO4Stv749k","size":"0","type":null,"source":"YOUTUBE"},{"name":"Tokenomics (1).png","id":"QmU1aiCVJArppqHUSmf5BVVG7gUEBji9iwKT5K2PAud1dK","size":"0.01","type":"GALLERY","source":"IPFS_IMG"},{"name":"c3a5b5f2-2fb8-4d56-8276-890979da928b.png","id":"QmVYr61Pf4eYm1pSZDscTVGU1XS2nfVFayaAMpjERJSgmQ","size":"0.22","type":"GALLERY","source":"IPFS_IMG"},{"name":"3GSzgMgS9FA","id":"https://www.youtube.com/watch?v=3GSzgMgS9FA","size":"0","type":null,"source":"YOUTUBE"}],"linkedWikis":{"founders":["pacman"],"blockchains":["blast"],"speakers":[]},"events":[],"founderWikis":[{"id":"pacman","title":"Pacman"}],"blockchainWikis":[{"id":"blast","title":"Blast"}],"metadata":[{"id":"references","value":"[{\"id\":\"xmoatn1als\",\"url\":\"https://unchainedcrypto.com/blast-on-ethereum/\",\"description\":\"Blast on Ethereum\",\"timestamp\":1718813465118},{\"id\":\"xibxp22dwls\",\"url\":\"https://dappradar.com/blog/blast-layer-2-chain-guide\",\"description\":\"What is Blast? 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