- Blast TVL reaches $570 million, days aft the Paradigm and Standard Crypto backed L2 launched.
- A Japanese crypto VC is reportedly eyeing a $5M concern successful the platform.
- Blast’s deposit-only astute declaration has attracted immense criticism.
Blast, the precocious launched Layer 2 crypto task has surpassed $570 cardinal successful full worth locked (TVL), according to data connected Dune Analytics.
With the project’s one-way deposit declaration attracting disapproval including from Paradigm researcher Dan Robinson, the fig of depositors looks to person fallen from the highest seen past week.
However, the L2’s worth locked successful ETH and stablecoins has risen to implicit $570 cardinal conscionable days aft its launch.
The Blast squad besides shared the milestone connected their X account, noting that implicit 63k assemblage members were present earning output (approximately 4% for ETH and 5% for stablecoins). They are besides amassing Blast Points.
Blast has reached $570 Million successful TVL wrong 1 week.
63,948 assemblage members are present earning output (~4% for ETH and 5% for stables) + Blast Points.
There's been unthinkable inbound developer involvement since launch. We'll stock much for devs soon arsenic we march towards Mainnet! pic.twitter.com/F715z8mpDa
— Blast (@Blast_L2) November 27, 2023
Funds sent to Blast are restaked connected Lido and Maker, with users lone apt to entree withdrawals aft the three-month lockup period.
Japanese crypto VC to put $5 cardinal successful Blast
Blast was backed by some Paradigm and Standard Crypto arsenic it looked to motorboat the Ethereum L2 with autochthonal output for Ether (ETH) and stablecoins.
According to a report connected Monday, Japanese crypto concern steadfast CGV (Cryptoram Venture) has earmarked a $5 cardinal peculiar concern successful Blast. The Tokyo-based crypto VC is reportedly besides looking to collaborate with the Blast squad to beforehand the L2 ecosystem’s growth.
CGV besides invests successful and incubates JPYW, a licensed Japanese yen-pegged stablecoin.
Japanese crypto concern steadfast CGV announced a $5 cardinal concern successful the Blast L2 ecosystem, aiming to collaboratively beforehand the improvement of the Blast network. CGV (Cryptogram Venture) besides put successful and incubate the licensed Japanese yen stablecoin JPYW.…
— Wu Blockchain (@WuBlockchain) November 27, 2023
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