Layer 2 Blast Mainnet Launch Date To Be Announced Next Week

Key Points:

• The network is upgrading its bridge contract in preparation for Blast mainnet launch later this month, with the exact launch date to be revealed next week.
• The project recently launched its Layer 2 testnet and disclosed that 50% of the airdrop allocation will go to developers, while the other 50% is reserved for staking users.
• Blast aims to address the issue of minimal interest rates on Layer 2 assets by offering native yields from Ethereum’s Layer 1.

Layer 2 network Blast has announced plans to upgrade its bridge contract this weekend in preparation for the imminent Blast mainnet launch later this month.

Blast Mainnet Launch Is Being Prepared

The upgrade, slated to last 24 hours, is not expected to disrupt user experience. The network will unveil the exact Blast mainnet launch date next week.

Last month, Blast marked a milestone with the official launch of its Layer 2 testnet. Additionally, the project disclosed that 50% of the airdrop allocation will be reserved for developers, with the remaining half earmarked for staking users.

Blast, leveraging Optimistic Rollups technology, aims to incentivize users to stake ETH and stablecoins, subsequently reallocating these assets into Liquid Staking and RWA Yield platforms to enhance yields. Despite its innovative approach, Blast has faced criticism, including from investment firm Paradigm, over concerns resembling a Ponzi scheme.

Native Yields and Future Developments

Existing Layer 2 solutions offer minimal interest rates for holding assets like ETH and stablecoins, leading to asset depreciation over time. Blast addresses this issue by furnishing users with native yields from Ethereum.

The project’s roadmap outlines forthcoming developments, including enabling crypto withdrawals and conducting token airdrops based on Blast Point rewards, anticipated in May.