What is Blast (BLAST)?

Deep Dive

1. Purpose & Core Value Proposition

Blast’s primary innovation is native yield. Unlike standard Layer 2s where assets sit idle, Blast automatically generates and compounds yield for users. ETH holdings earn yield through Ethereum staking, while stablecoins earn via integrated Real-World Asset (RWA) protocols like MakerDAO's Treasury bills (Crypto.com). This yield is passed directly to users and decentralized application (dapp) liquidity pools, aiming to provide a fundamental utility that attracts capital.

2. Technology & Developer Approach

Technically, Blast is an EVM-compatible optimistic rollup. This means it batches transactions off-chain before submitting proofs to Ethereum, offering lower fees and faster speeds while relying on Ethereum's security. For developers, Blast shares gas fee revenue and provides the native yield as a building block, enabling new dapp business models. The project's strategy explicitly focuses on attracting "cryptonative" early adopters and degens first to build a foundational network effect before targeting a broader audience (Blast Vision).

3. Tokenomics & Ecosystem Strategy

The BLAST token has a 100 billion total supply, with 50% allocated for community initiatives. Distribution is heavily influenced by a points-based incentive system. Users earn Blast Points for bridging assets and using dapps, while developers earn Blast Gold to distribute within their applications. This model fueled rapid initial growth, though the ecosystem has since faced significant challenges retaining value and users after its token launch.

Conclusion

Blast is fundamentally an Ethereum scaling solution that embeds yield generation at the protocol level, seeking to combine capital efficiency with developer-friendly infrastructure. Will its focus on intrinsic utility and targeted incentives prove more sustainable than pure speculation in the long-term Layer 2 landscape?