Blur Founder Launches New Layer 2 Network Blast, Raises $55 Million Within Hours

Crypto News
Crypto News

21 Nov 2023 6:47 PM

Blast, the inaugural Ethereum Layer 2 platform to introduce a built-in yield model, has gone live in an “early access” mode....

  • Blast, Ethereum's latest Layer 2 network, has launched in "early access" mode.
  • The platform aims to address the speed, cost, and scalability issues faced by Ethereum's Layer 1 blockchain.
  • Blast has introduced a built-in yield model, offering users a 3-4% return through ether staking and 4-5% return for stablecoins.
  • Users can also earn rewards in the form of "Blast Points."
  • Entry to the Blast network is currently invite-only, with full access expected in February.
  • Tieshun "Pacman" Roquerre, founder of the NFT marketplace Blur, is the creator behind Blast and aims to make it the "Binance of NFTs."
  • Roquerre has secured an additional $40 million in funding for the development of Layer 2 applications for NFTs.

The article generally presents positive news about the launch of Blast, Ethereum's Layer 2 network, and its built-in yield model. The involvement of prominent figures and the potential benefits for users and the NFT ecosystem contribute to the positive sentiment.

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You May Ask

What is Blast and what problem does it aim to solve?How can users earn returns on Blast?When will full access to the Blast network be available?Who is the creator of Blast and what are their ambitions for the platform?How much funding has Tieshun Roquerre secured for the development of Layer 2 applications for NFTs?

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