Users have locked more than $2.1 billion on the Blast protocol as they eagerly await an airdrop slated for May. Blast, an Ethereum layer-2 network, has surpassed a total value locked (Blast TVL) of $2.1 billion. Just a few days before the recently declared launch of its mainnet, scheduled for the end of this month.
Blast’s Explosive Growth: TVL Soars to $2.1 Billion Amid Airdrop Anticipation
DefiLlama’s data indicates that the TVL of Blast has now reached a value of $2.1 billion. Marking an increase of more than 2,200% since its bridging protocol initially became active on November 22.
Source: DeFiLlama
Eager airdrop seekers, who have locked their Ethereum in the protocol to harvest a potential Blast token airdrop that the protocol’s management predicts will occur in May, attribute the great majority of the locked value.
IT’S TIME TO BLAST OFF
Mainnet. February 29.
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是时候发射了！
主网。2月29日。
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BLAST 여정의 시작.
메인넷. 2월 29일. pic.twitter.com/9jaBnFF6gw— Blast (@Blast_L2) February 26, 2024
The introduction of the Blast protocol drew criticism because users could not remove funds once locked in the platform until the mainnet launched.
There are a lot of components of Blast that I’m excited about and would be interested in engaging with people on. That said, we at Paradigm think the announcement this week crossed lines in both messaging and execution. For example, we don’t agree with the decision to launch the…
— Dan Robinson (@danrobinson) November 26, 2023
Risk on Blast Controversy: Rug Pull Raises $1.35M in ETH
On February 26, the Blast protocol once more sparked controversy when critics claimed that a gambling protocol named ‘Risk on Blast’ had executed a rug pull.The GambleFi project successfully raised 420 Ether (ETH), or $1.35 million at today’s exchange rates, for the RISK presale token, which ran from February 22 to the next day.
