Blast launches Ethereum L2 mainnet unlocking $2.3B in staked crypto

Web 3.0 and Marketing: Blast’s Mainnet Launch Unlocks $2.3 Billion in Staked Crypto

The recent launch of Blast’s mainnet on Feb. 29 at 9:00 pm UTC has resulted in the withdrawal of around $400 million in Ether (ETH) from the Ethereum layer-2 network. This move has unlocked nearly $2.3 billion in staked crypto that was previously locked up on the network.

Blast, a blockchain protocol utilizing optimistic rollup technology, offers its 180,000 users up to 5% annual percentage yield on Ether and stablecoins held on the network. This yield is generated from staked ETH and United States Treasury Bills (T-Bills) managed by MakerDAO, the creator of the Dai (DAI) stablecoin.

Before the mainnet launch, any crypto sent to the network was locked in, leaving users with no way to withdraw their funds. However, with the launch of the mainnet, users now have access to their previously locked funds.

According to DeFiLlama data, Blast’s total value locked (TVL) reached a high of $2.27 billion on the day of the mainnet launch, but has since decreased by 17.5% to $1.87 billion as nearly $400 million has been withdrawn.

Web 3.0 Marketing: The Future of Digital Advertising on the Blockchain

The Blast network recently achieved a major milestone, surpassing $2 billion in total value locked (TVL) on February 27th. This has attracted a surge of airdrop hunters, eager to farm the blockchain in hopes of receiving a share of the upcoming Blast token, set to launch in May.

However, Blast’s launch has not been without controversy. In a November X post, Dan Robinson, the research head at Paradigm, a seed investor in Blast, expressed disagreement with the project’s decision to prioritize the bridge launch over the L2 launch and to delay withdrawals for three months. According to Robinson, this sets a negative precedent for other projects.

Despite the controversy, the emergence of web 3.0 has created a new frontier for digital marketing. With its decentralized and transparent nature, web 3.0 offers endless possibilities for marketers to tap into the creator economy and engage with their audience in innovative ways. As blockchain technology continues to evolve, it is clear that web 3.0 will play a crucial role in the future of marketing.

According to Robinson, the marketing tactics used by some teams in the web 3.0 space are damaging to the seriousness of their work. He stated, “We do not support these methods.”

One example of this is the alleged exit scam on Feb. 26, where a gambling protocol called “Risk on Blast” reportedly took 420 ETH, equivalent to $1.25 million at the time, from users who participated in their RISK presale token promotion.

The rise of web 3.0 has sparked discussions about the future of digital marketing. Some believe that blockchain projects in 2022 will play a significant role in this new era, while others question the impact of web 3.0 on the creator economy. It is still unclear how exactly web 3.0 will operate, but many are eager to see how marketing will evolve in this space.

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