Why Blast?

The Blast Ethereum (ETH) Layer 2 has made one of the most explosive entries in history. In just 8 days Blast became a top 10 chain and the 2nd largest ETH layer 2. As of April 2024, over $1.6B is currently on chain.

Monumental interest in Blast has been driven by a new approach that significantly enhances capital efficiency by allowing on-chain deposits to automatically accumulate underlying yield generated from Mainnet ETH staking and stablecoin T-Bill yield.

This means that Blast is a first mover for a brand new class of ETH Layer 2s, that have the capacity to support better DeFi applications by redirecting underlying yield and gas fee rebates to reduce problems like impermanent loss, gas and swap fees and much more.

Blasts’ unique proposition has sparked significant interest in the most important user base that is best represented by the fact that over 90% of users who deposited into the BLAST bridge sent between $1-<$10,000. We believe that this shows a grassroots movement that will bring real and organic network growth, driven by an opportunity to take an early stake in the next big blue-chip protocols in DeFi.

Over 130,000+ users and 300+ protocols are now collectively aligned to drive ecosystem growth to share in the upcoming “Big Bang” airdrop in May. What Blast now needs is a platform that can provide real DeFi usecases, support protocol growth and generate revenue. To achieve this, Fenix will provide a full suite of products for traders, protocols and liquidity providers.

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