Good article - note that Blast is also part of the OP stack, and there are some economics around that (they have to give 15% revenue to OP or something? Not sure of the details). I really like Blast - they had a competently run points system and airdrop and are trying something different with the yield bearing USDB/ETH and the dApp rebates. Nothing is perfect (centralisation risk if anything happens to the DAI or stETH they are holding on main net) but they actually come across as competent which is a relief after how some of these L2s/alt-L1s are managed (Arbitrum and Avax - I am looking at you).
1. Do you have any good resources that explain how blast generates native yield? What are the main risks involved?
2. Seems like there is very little liquidity to bridge off blast unless you use mainnet which takes two weeks. Orbiter and others seem to have a daily cap of 2-3 ETH with pretty obnoxious fees.
Blast only became possible following Ethereum’s Shanghai upgrade. ETH yield from L1 staking, initially Lido, is automatically transferred to users via rebasing ETH on the L2.
T-Bill Yield
Users who bridge stablecoins receive USDB, Blast’s auto-rebasing stablecoin. The yield for USDB comes from MakerDAO’s on-chain T-Bill protocol. USDB can be redeemed for DAI when bridging back to Ethereum.
Base is the cheapest L2 I've used so far.
But the blast farming and native yeild is so attractive. Let's see it's another Blur or will obtain its high txs after pahse 1(and after phase 2 ofc).
The txfees to protocols and rebase to sequencers mechanic is genius btw.
What about previous side L1s chains like BNB or Polygon ? Do you think there is still a future or the narrative is gone already ?
Asking to know if I just need to consolidate those coins or the dust that remains everywhere :)
Good article - note that Blast is also part of the OP stack, and there are some economics around that (they have to give 15% revenue to OP or something? Not sure of the details). I really like Blast - they had a competently run points system and airdrop and are trying something different with the yield bearing USDB/ETH and the dApp rebates. Nothing is perfect (centralisation risk if anything happens to the DAI or stETH they are holding on main net) but they actually come across as competent which is a relief after how some of these L2s/alt-L1s are managed (Arbitrum and Avax - I am looking at you).
Great article as usual. A few quick questions.
1. Do you have any good resources that explain how blast generates native yield? What are the main risks involved?
2. Seems like there is very little liquidity to bridge off blast unless you use mainnet which takes two weeks. Orbiter and others seem to have a daily cap of 2-3 ETH with pretty obnoxious fees.
3. Would love an NFT update soon!
Regarding Q1, here are from blast docs:
L1 Staking
Blast only became possible following Ethereum’s Shanghai upgrade. ETH yield from L1 staking, initially Lido, is automatically transferred to users via rebasing ETH on the L2.
T-Bill Yield
Users who bridge stablecoins receive USDB, Blast’s auto-rebasing stablecoin. The yield for USDB comes from MakerDAO’s on-chain T-Bill protocol. USDB can be redeemed for DAI when bridging back to Ethereum.