JAM Kseniya

$BLAST — “the innovative L2 with native yield.”

That’s what everyone said back in fall 2024. It all started with pre-deposits and a farming campaign where users earned points through a “spin-the-wheel” mechanic.

The mainnet launch was underwhelming — small drops and a request to withdraw funds since it was still a multisig, not a true L2.

Later, dApp farming began — and that’s where most of the real airdrop came from. Simple deposits earned almost nothing. The drop itself had vesting, but hype around #BLAST stayed strong thanks to “tons of dApps and activity.”

In reality, Fantasy was the only real success — a card game that moved to Monad and kept building, offering WLs, tokens, and real yield.

Meanwhile, Blast shifted to “mass adoption,” launched a mobile app, added fiat ramps like Google Pay, and teased Phase 2 rewards. Sounds great — but activity was already fading.

Many dApps were rushed. Projects like Particle claimed big investors, but only had tier-3 KOLs and no real traction. $BLAST buybacks had no impact, Pacman went silent in April, and barely anyone used the app.

In June, Thruster, the main DEX on Blast, shut down — promising to fairly distribute remaining rewards. Yolo also exited, citing lack of support from the Blast team.

Even with big names like Pacman, Blur, and Paradigm — nothing lasts if the team stops caring.

Do your own research. Hype doesn’t build ecosystems.