BLAST/USD (-0.77%)
BLAST is a utility coin that resides on an Ethereum L2 network that goes by the same name. The coin acts as the governance token on the network. It also supports staking for yields in stablecoins and ETH. The project seeks to offer full-stack crypto services with support for Dapps, smart contracts, and onramp fiat transactions.
Staking gives users 5% ETH and 4% USDB coin. Dapps on the network also receive a portion of the gas fee from their network. About 55 to 10% is charged for transactions. This project has received positive feedback and rapid growth in volume since its introduction.
A Bit About Blast
BLAST can be described as a utility coin with the promise of returns to holders. It is a native coin of the Blast network, which offers several crypto services as well as support for Dapps. The network came into place in 2023 after the minds behind Blur NFT Marketplace, led by Tieshun Roquerre, sought to provide crypto users with a cheaper way to transact in Ethereum.
This coin stands for speed, accessibility, and affordability. It hopes to provide users with an opportunity to use several crypto services and Dapps from one dashboard without spending too much on transaction costs, especially for people using the Ethereum blockchain. The token can be used for any transaction online. It can also be staked for some yields.
The only EVM chain with native yield for ETH and stablecoins!CryptoLists.com
BLAST is a utility coin based on an Ethereum L2 blockchain. In essence, it is made on an EVM-compatible blockchain that uses the features of Ethereum but improves on them to give users more functionality, convenience, and affordability. Currently, it is the only Ethereum L2 network that has a native yield of stablecoins and ETH.
There are two features that give users yields: the RWA protocol and ETH staking. The yield from these protocols then gets to the BLAST users automatically. The ratio for earning yields is 4% for ETH and 5% for stable coins. The stablecoin that receives the yields is USDB, a native stablecoin on this blockchain.
Smart contracts that use the BLAST network can opt for rebasing with USB. Additionally, Dapps that are hosted on this network get a portion of the gas fees earned by their activities. This way, users, stakers and applications on the BLAST network earn a share of the earnings that the blockchain makes.
There are 10 billion BLAST tokens in circulation out there. 50% of these tokens will go to the community, while the investors in the project will get 16.5% of the token. 25% of the investor tokens were unlocked after a year, while all others were unlocked linearly over a period of three years.
Utility of Blast?
As indicated earlier, BLAST is a utility coin that holders can use to purchase goods and services. It is already available at major cryptocurrency exchanges for purchase and exchange with other currencies. Already, the coin is accepted on several online exchanges, including Blur, where holders can buy and sell NFTs. Holders of the coin enjoy various benefits, as explained below:
First, holders of the coin can earn from their coins by staking on the network. If any Dapps allow their users to transact with the coin, they can redistribute a portion of the gas fees charged for their transactions. Second, this coin enjoys all the security features of the Ethereum network as it is built on it. This provides safety for users to invest and store their coins on the network.
Third, the blast network allows users to transact across chains with its bridge feature. It is in the process of creating a full-stack crypto solution that integrates banks, fiat currencies, and Dapps to make transactions seamless, convenient, and fast.
Blast Price details
›› BLAST tokenomics and social media
Advantages of Blast
+ BLAST is based on the Ethereum network, which is secure+ Holders of the coin can stake it for yields
+ Dapps on the blockchain get a share of the gas fees
+ Blast network allows for cross-network movement of assets
+ BLAST coins are accepted at various online outlets
Disadvantages
- BLAST is not yet popular like many leading coins- The value of the coin has not been increasing fast, making it less attractive for speculative trading
- BLAST chain-on-chain Bridge currently only accepts a few chains
- There is a high fee charge of up to 10% on transactions
- Some benefits and yields are only available on Dapps
Costs
▪ Rated at 9/10The cost of transacting with BLAST is about 5% to 8% of the amount transacted. Just like the parent blockchain, Ethereum, the amount of the gas fee charged is based on the traffic on the network. While the cost of transacting on the network is significantly high compared to many other upcoming blockchains, it is lower than what is charged on the Ethereum network. Besides, Dapps and smart contracts that work on the network get a portion of the fees charged on their transactions with an opportunity to distribute the same to their users.
Reputation and Buzz
▪ Reputation rated at 8.5/10▪ Buzz rated at 10/10
The Blast project was well-received in crypto circles. Within 100 days of going live, the Blast chain had transacted more than 2 billion dollars. Six months down the line, it had enjoyed over 40% growth. These statistics show a rapidly growing crypto network.
Besides, the project has received positive coverage across leading media outlets and cryptocurrency forums. It also received overwhelming interest when it conducted an airdrop towards the end of June 2024. This shows several people see growth in this project.
FAQ
Is it safe to hold BLAST?
Yes, it is safe to hold BLAST. It is created on an Ethereum L2 network. Therefore, it enjoys all the features of the mother blockchain. That said, Ethereum has some of the best security features in the crypto world. Since its inception, there have not been cases of breaches of the network or the loss of digital assets.
Why can I buy BLAST tokens?
BLAST is available on various cryptocurrency exchanges, including CoinUp.io, LBank, Bitget, Bybit, and KCEX. You will find a full list on the Blast official website.
Is this the same as SafeBlast (BLAST)
No it's not the same, and they're in no way related to each other. But considering they have the same ticker it can be confusing. We have SafeBlast reviewed here.
History of Blast
April 2023 - Blast is founded by Tieshun Roquerre and 17 other investors
November 2023 – Blast raises 25 million USD in a seed round
June 2024 – Blast announces an airdrop where 220 million USD worth of coins are distributed to existing users with coins on Ethereum
June 2024 – Blast announces the creation of a phase 2 full-stack solution where users will connect the chain to Dapps, Fiat Onramp, banks, desktop and mobile wallets.
Screenshots from Blast
More sites where to buy/sell/trade Blast
Below you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this coin. Click on the logo to read our review.
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