💥What is Blast

Why a new L2?

The risk-free rate on existing L2s is 0%. It's time to change that. L2s today do not have this yield. Incorporating ETH and stablecoin yield natively requires a new L2 designed from the ground up. Blast is an EVM-compatible, optimistic rollup that raises the baseline yield for users and developers without changing the experience crypto-natives expect.

How Blast Works:

Auto Rebasing: ETH itself, not WETH, STETH, or any other ERC20, is natively rebasing on the L2. The ETH balance for EOAs automatically rebases. Smart contracts can opt-in to this rebasing, simplifying the deployment of existing DApps on Blast without any changes.

USDB, Blast’s native stablecoin, is automatically rebasing as well. Like ETH on Blast, USDB is automatically rebasing for EOAs. USDB is also automatically rebasing for smart contracts. Smart contracts can opt-out from this rebasing. USDB, Blast’s native stablecoin, also undergoes automatic rebasing. Like ETH on Blast, USDB automatically rebases for EOAs. USDB is also subject to automatic rebasing for smart contracts, with the option for smart contracts to opt-out. L1 Staking: Blast 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.

In the future, the Blast community will have the power to supplement or fully replace Lido Blast-native solutions or other third-party protocols. 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 USDC when bridging back to Ethereum.

In the future, the Blast community will have the power to supplement or fully replace MakerDAO with Blast-native solutions or other third-party protocols. Gas Revenue Sharing: While other L2s keep revenue from gas fees for themselves, Blast programmatically gives net gas revenue back to DApps. DApps developers can choose to keep this revenue or use it to subsidize gas fees for users. In the future, the Blast community will have the power to supplement, or fully replace, Lido and MakerDAO with Blast-native solutions or other third-party protocols.