Blast, the Layer 2 network launched by the founder of Blur, completed US$20 million in financing, with Paradigm participating in the investment

2023-11-21 08:41:37BlockBeats

According to BlockBeats news, on November 21, according to official news, Layer 2 network Blast based on Optimistic Rollup completed US$20 million in financing. This round of financing was co-founded by Paradigm, Standard Crypto, eGirl Capital and Mechanism Capital Andrew Kang, Lido strategic consultant Hasu, Several angel investors including The Block CEO Larry Cermak participated in the investment. Blast stated that the existing Layer 2 base interest rate is 0%, and Blast is the only Ethereum Layer 2 with native returns on ETH and stablecoins. Specifically, Blast natively participates in ETH staking, and the staking proceeds will be fed back to Layer 2 users and dapps. On Blast, users’ balances will automatically compound interest and earn additional Blast rewards. Blast believes this advantage alone could attract $20 billion in liquidity. According to reports, Blast was created by Blur founder Pacman and a team with rich experience in MakerDAO, MIT, Yale University, and Seoul National University. Blast early access is now online and is only open to invitees. Everyone who joins will be rewarded with Blast points. Users who gain access can earn income (4% for ETH + 5% for stablecoins) and Blast Points before the launch of the mainnet in February 2024, and early access members can earn more points based on the number of bridges and invitees.

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Blast, the Layer 2 network launched by the founder of Blur, completed US$20 million in financing, with Paradigm participating in the investment

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