Blast, Hyped Layer-2 Chain, Sees Most Deposits Leave Within 1 Day of Going Live
Investors withdrew $1.6 billion from the newly-launched layer-2 network Blast within the first 24 hours of its mainnet going live. Blast, backed by Paradigm, had quickly attracted over $2 billion in deposits after announcing a deposit-only bridge in November. Despite initial skepticism and accusations of being a pyramid scheme, Blast became one of the most active layer-2 networks in terms of deposits before its mainnet launch, attracting $2.3 billion from 181,000 users. Developers creating decentralized apps on Blast will receive 50% of an upcoming token airdrop. However, the Blast ecosystem experienced its first exit scam with a protocol named "RiskOnBlast" disappearing with $1.3 million worth of ether. NFT platform Zora and pricing oracle provider Pyth have announced their support for Blast.
