Sirwin
Sirwin

Blast! My Favorite Crypto Speculation

By Buzzbeeg | The Crypto Cave | 9 Jan 2024


Blast

The Next Great Layer 2 Protocol!

I am very excited about Blast and think it may become a preeminent Layer 2 solution for Ethereum. Why?

  • It's an optimistic rollup network that will provide lower fees for Ethereum users.
  • Launched by Pacman the creator of Blur the biggest competitor of Opensea. This could become the layer 2 solution for NFT trades in the future.
  • The biggest claim to fame for this protocol is that it will provide automatic yield for those using it. Receive 4% ROI in ETH and 5% in Stablecoins. Why use a layer 2 competitor when you automatically make yield just by putting it in rollup?
  • Blast fees will go 100% back to developers which will fund the continual development of Blast. This means we should see continual improvement of this new protocol.

Most of all there is a sweet airdrop coming to those who stake their $ETH and Stablecoins now. Because of the airdrop, the big money backing Blast, and the returns Blast already has 1 billion TVL (Total Value Locked). This is already a large pool of users and ETH staked into Blast. I think they have a great chance of becoming the next Optimism.

Is it perfect? Nope.

There are things I don't like about Blast and I think I should warn everyone about them.

  • Once you stake your $ETH you can't get it back until February.
  • The founder is a Twitter pseudonym but did launch Blast.
  • It's a bridge so there are always security concerns.
  • Will the yield be enough to differentiate it from other competitors like Optimism? 

There's plenty that can go wrong. But I put a little bit of $ETH into it. Why not get that yield and the airdrop?

What do you think?

             

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Notes and Disclosures

This post is provided for educational and entertainment purposes only and should not be relied upon for business, investment, taxation, or legal advice. Certain information presented is gathered from third parties and has not been independently verified. The views expressed here are those of the individual author and are not the views of 1.2 Labs Inc. or its affiliate firms. If you decide to buy or invest in anything, then your returns and potential losses are your own. No statements about taxation are taxable advice and you are encouraged to consult your own tax professional. No statements are legal advice and you are encouraged to consult your own legal professional. No statements about investing constitute investment advice and you are encouraged both to do your own due diligence research before investing and to consult an investment professional in that process.

Finally, as the author of this report, you should recognize that I do actively invest. Many of my trades are quick and I do write about many investment items, whether stocks, coins, collectibles, and the like which I do not own. For the purposes of disclosing any conflicts of interest, assume that if it is covered, I own the investment item. Or if my coverage is negative that I am short the investment item.

                                                                                                                                                                                                                                          

 

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Buzzbeeg
Buzzbeeg

I work for several Cryptocurrency projects including Silica neXus and Divi Project. I also write on Quora and share many of the same posts that I share here.


The Crypto Cave
The Crypto Cave

The fun side of crypto; making money, blockchain games, and learning. Like my thoughts on Crypto? Check out my Quora space: https://cryptocave.quora.com/ and 🔥Subscribe to our Free Investment Newsletter. https://theartofthebubble.com/newsletter/🔥 This post is provided for educational and entertainment purposes only and should not be relied upon for business, investment, taxation, or legal advice.

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