The Layer 2 network Blast, launched by the founder of Blur, has completed a $20 million financing round, with participation from Paradigm

2023-11-21 09:07:22

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ChainCatcher news, the Layer 2 network Blast based on Optimistic Rollup has completed a $20 million financing round, with participation from Paradigm, Standard Crypto, eGirl Capital, as well as angel investors including co-founder of Mechanism Capital Andrew Kang, Lido strategic advisor Hasu, and The Block CEO Larry Cermak.

Blast stated that the current benchmark interest rate for existing Layer 2s is 0%, while Blast is the only Ethereum Layer 2 that offers native yields in ETH and stablecoins. Specifically, Blast natively participates in ETH staking, and the staking rewards will be returned to Layer 2 users and dapps. On Blast, users' balances will automatically compound, earning additional Blast rewards. Blast believes that this advantage alone can attract $20 billion in liquidity.

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