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One of the latest Ethereum Layer 2s, Blast, has gone live with its mainnet! With billions already bridged across to Blast, it’s quickly become one of the largest L2s by TVL (total value locked).
Blast is unique as it offers native yield on both ETH and stablecoins on Blast. Backed by Paradigm, one of the largest cryptocurrency VC firms, Blast has garnered a lot of publicity and with an ongoing points system to earn the Blast airdrop later this year, many crypto participants have been looking for easy ways to bridge their funds across to Blast.
From today, we’ve enabled seamless withdrawals from your USDC balance to USDB (Blast’s stablecoin) directly onto Blast from the Stables app.
If you’re curious and want to know more, or understand how to bridge, read on!
Blast is a blockchain built on the concept of native yield. For example, when you’re holding an asset such as Ethereum but aren’t staking it when you could (and earn around a 4% yield), you’re missing out. Think of holding cash under your bed versus money in an interest account.
Blast incorporates this ‘native yield’ so the underlying assets ETH and USDB pass this yield onto holders automatically. This yield comes from staking ETH, or in the case of stablecoins, earning up to 15% from onchain T-bills via MakerDAO.
To understand this in even more depth, you can read more on Blast’s website here.
The Blast mainnet launched in February 2024, with an incentivised airdrop for bridging activity set to be distributed in May 2024. Currently there are a handful of projects and dApps that have launched on Blast, with more set to build on the chain over the coming weeks and months (including popular NFT platform Blur).
Blast is also set up for relatively cheap and near instant transactions, plus, thanks to the recent Ethereum Dencun upgrade, transactions costs have reduced even more over the past few weeks.
Stables now supports withdrawals to Blast, meaning you can send USDB to Blast quickly and securely, powered by SocketTech. Getting your USDB across to Blast from your Stables wallet is easy.
1. Top up your balance on Stables with our supported stablecoins (USDC, USDT, DAI or PYUSD) on any of our supported blockchains.
2. Tap “Withdraw” and select Blast and USDB
3. Confirm your withdrawal, ensuring your wallet address for Blast is correct.
4. That’s it - your USDB will be available on your Blast wallet within minutes!
Ready to get started? Download the Stables app here and start bridging!
Sign up via the app now.
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