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Altcoin

Blast’s Season 2 Rewards: A Deep Dive

by Ouess
written by Ouess

The Ethereum Layer 2 network, Blast, recently unveiled its Season 2 rewards structure and future vision for the chain, sparking significant market reactions.

Season 2 Incentives and Structure

On July 2, Blast released a blog post detailing the incentives and rewards for Season 2, causing its native token to drop another 15%. The post compared Season 1 and Season 2, highlighting changes in the incentive structure and outlining Blast’s long-term vision. Despite a lackluster launch on June 26, token holders responded negatively to the announcement.

Golden Ticket System

The year-long second phase maintains a 50-50 airdrop split between Blast points and Blast gold but introduces a new Golden Ticket system in its progressive web app (PWA). Users can earn tickets based on their ETH, WETH, and USDB token holdings. These tickets offer a scratch-off mechanism, allowing users to win points, gold, Blast merchandise, and even Tesla Cybertrucks.

Long-Term Vision and PWA

After the token launch last week, Blast revealed its long-term vision and PWA, branding itself as the “full-stack chain.” To claim their airdrops, users must download the app. Blast’s future plans include a comprehensive ecosystem with native desktop and mobile wallets to compete with Metamask, enabling seamless interaction with Blast L2 and its native dApps.

BLast TVL Source : defiLLama

Market Reaction and Future Plans

Despite the ongoing incentives, Blast’s Total Value Locked (TVL) has dropped 21% in the last seven days, and the native token’s price is down 37% from its all-time high on opening day. As sentiment surrounding Blast worsens, market participants are reflecting on Blur’s roadmap, which was announced in February 2023 but has yet to deliver on promises like ERC-1155 integration, Artblocks integration, and the “F-Switch.”

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DeFi

Base Network Leads Ethereum L2 Solutions in Transactions

by Ouess
written by Ouess

Base Network, Coinbase’s Layer 2 (L2) scaling protocol, has emerged as the top-performing L2 solution on the Ethereum network, surpassing competitors like Arbitrum. On-chain analyst Leon Waidmann confirmed that Base has become the “most used Ethereum L2.”

Surge in Transactions

In the past 30 days, Base’s transactions have surged by over 60%. Daily, Base processes up to 3.5 million transactions, compared to Arbitrum’s 2 million. This remarkable growth is attributed to various factors, including the ongoing memecoin frenzy, which has driven increased adoption and activity.

Memecoin Impact

The memecoin market has seen significant growth, with a current market capitalization of around $54.7 billion. Some of the top memecoins on Base have experienced price increases, attracting the attention of major hedge funds. For example, Solana-based dogwifhat (WIF) has gained support from trading firms like Robinhood and Binance, trading at $2.12 after a 10.15% increase in the last 24 hours. Similarly, Shiba Inu (SHIB) has shown a slight price rise, reflecting a broader crypto market recovery.

Base vs. Arbitrum

Since April, Base has consistently outperformed Arbitrum in transaction counts. On April 7, Base recorded 45.21 million transactions in 30 days, compared to Arbitrum’s 38.58 million and Ethereum’s 37.93 million, as reported by L2Beat. Additionally, Base’s Total Value Locked (TVL) was $3.89 billion, with a 19.96% increase in transaction volume.

BASE TVL Source : DeFiLlama

Conclusion

Base Network’s rapid growth and dominance in transaction counts highlight its potential as a leading Ethereum L2 solution. The memecoin frenzy and increased burn rates have contributed to this success, positioning Base as a key player in the crypto market.

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DeFi

Ethereum Scaling Solution Blast Launches Native Token

by Ouess
written by Ouess

Ethereum Layer 2 (L2) network Blast is set to launch its native token today, with 17% of its total supply airdropped to early adopters. Despite its $1.65 billion in Total Value Locked (TVL), Blast is one of the most debated products in decentralized finance (DeFi).

Token Airdrop Details

The airdrop will be distributed across Blast and its affiliated NFT marketplace Blur’s points program. Specifically, 7% will go to Blast points, another 7% to Blast gold, and 3% will be shared among the Blur ecosystem.

On-Chain Metrics and Native Yield

Blast boasts impressive on-chain metrics compared to other blockchains, driven by its token incentives. According to DeFiLlama, Blast is the second largest Ethereum scaling solution by TVL and has the highest user fees among Layer 2 networks. As an optimistic rollup like Arbitrum and Optimism, Blast was the first to introduce native yield.

Source : DeFiLlama

On Blast, all ETH yields 4%, while its native stablecoin, USDB, yields 5%. This allows users to earn yield simply by holding assets on the chain, without engaging directly with DeFi protocols. This native yield is generated through ETH staking and Real-World Asset (RWA) protocols via an automatic rebasing system.

Controversial Aspects of Blast

Blast is developed by the team behind the leading NFT platform Blur, which has also faced its share of controversies. Blur overtook OpenSea as the dominant NFT trading platform after its token launch in 2023, but its incentives for buying, selling, and lending have drawn criticism from many NFT collectors. Some even claim that “Blur killed NFTs.”

Fees paid by L2 users Source : Growthepie

The latest season of Blur farming featured previously undisclosed Blast incentives. Recently, Blast announced that Season 3 will allocate 0.5% of its supply to Blur traders and 1.5% to BLUR stakers. The remaining Blur token allocation will be reserved for future uses.

This relatively small allocation to Blur is likely to result in significant losses for many of the largest Blur liquidity providers, as the $BLUR token has dropped nearly 70% from its all-time high in February. Notably, the top 0.1% of eligible wallets must vest their airdrop linearly over six months.

One prominent farmer, Cbb0Fe, who amassed 25% of all points from Blur Season 3, expressed frustration on social media, saying, “Made $15m profit from Blur Season 1 and Season 2 but definitely never ever again touching anything related to Blur/Blast team.”

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Memecoin

Crypto Market Insights: Trends, Opportunities, and Potential Winners

by Ouess
written by Ouess

Cryptocurrencies like Solama (SOLAMA) and MemeAI (MEMEAI) have grabbed attention with staggering surges exceeding +2300% this week, sparking curiosity about potential future stars.

Among the contenders, Ethereum, a prominent cryptocurrency, is forecasted by analysts to soar to $10,000 at the peak of its cycle, a prediction echoing significance in the dynamic realm of crypto investments.

BlastUP Presale Surpasses $1 Million: Eyes on Crypto’s Next Big Player

BlastUP, a leading launchpad on Blast, has emerged as a standout in the crypto landscape, raising over $1 million in just a few weeks. This project is gaining traction among early investors who recognize its immense potential.

BlastUP is poised for success, aiming to revolutionize Web3 tools with AI innovation for streamlined startup launches. Offering a robust suite of tools and a rewarding system, it presents an enticing opportunity for investors.

Currently in its fourth presale stage, BlastUP tokens are available at the lowest price of $0.05, offering a significant discount from the listing price of $0.1.

BlastUP token holders stand to benefit from various privileges, including token sale allocations, exclusive loyalty rewards for participating in IDOs, and staking rewards.

With a mission to accelerate the growth of blockchain startups, BlastUP is positioned as a major player in the crypto space. Backed by a dedicated team, it aims to become the go-to launchpad for seamless entry into the crypto market.

SEI’s Growth Potential Eyes $1.27 Amid Market Fluctuations

SEI has seen moderate growth recently, positioning itself well in the market. Short-term forecasts suggest potential highs reaching $1.05 and possibly $1.27 if momentum persists. However, long-term perspectives should consider potential downtrends, with support levels at $0.60 and $0.36.

Jupiter’s Solana Token Launch: Forecast and Market Analysis

Jupiter’s involvement in the upcoming Solana token launch positions it for growth, with a current price of $0.77. Short-term outlook suggests a push towards $0.81, while long-term prospects indicate support levels at $0.42 and $0.3.

Optimism Crypto Targets Resistance Levels

Optimism has surged past $4, aiming for resistance levels at $4.32 and $4.95. Short-term volatility may lead to a pullback to $2.95, with long-term averages indicating strong prospects.

Conclusion

While SOLAMA, MEMEAI, SEI, and Optimism have shown impressive gains, BlastUp stands out for its potential in the crypto market. With a unique concept, robust tools, and rewards system, it offers promising returns for investors seeking high-potential opportunities.

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Altcoin

Unveiling BlastUP: The Next Big Thing in Altcoin Season

by Ouess
written by Ouess

As altcoin season gains momentum, one project stands out: BlastUP. It’s the first launchpad platform on Blast, offering unique benefits like a 4% yield for ETH and 5% for stablecoins.

With over $1 billion in TLV in just a month, BlastUP’s presale has already surpassed $1 million. Its motto, “grow faster and earn more,” reflects its simplicity and transparency, making it appealing to blockchain startups and investors alike.

BlastUP has gained popularity, securing a top spot among launchpads and catching the attention of influencers like Benj. With a focus on community benefits and success for blockchain startups, BlastUP offers various perks for token holders, including tiered IDO launches and attractive staking rewards.

Looking ahead, BlastUP plans to leverage AI and Web3 tools to enhance its ecosystem, setting a strategic path for long-term growth. Its rapid rise and attention in the crypto community mark it as a hidden gem in this altcoin season.

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