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You know the bull market is close when all of this happens by Tuesday:
Portalcoin confirming their launch on Binance
Magic Eden announcing the drop of their Ethereum marketplace
Yuga Labs sunsetting support for all non-royalty-enforcing marketplaces
Lens going permissionless
Then you know the bull market has begun when you decided to cover none of that because something else is even bigger.
What could be bigger? The Blast L2 mainnet launch, coming tomorrow!
This is going to be the next narrative. Degens will flock to Blast like they flocked to Solana in Q4 of 2023.
The opportunity here is going to be massive. So…
What is Blast? 💥
Why is this the next big thing? 🥌
What are the top 5 projects building on Blast?
LFG. ⏬
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Blast, initially rolled out by Blur after their $100 million $BLUR token airdrop, was announced as an Ethereum L2 that provides native yield to depositors.
Initially, it promised a 3-5% yield for $ETH and stablecoin deposits through staking (Lido) and T-Bill (MakerDAO) protocols.
When this was announced, we expressed a fair bit of skepticism due to Blast’s setup, which we wrote about here.
Blast only allowed asset bridging without withdrawal capabilities.
Functioned as a multi-signature wallet managed by five people, not as a full L2.
Despite these red flags, users still bridged over $2 billion to Blast.
Degens be degens… Many got excited about the upcoming $BLAST airdrop set for May 2024 and started to bridge their assets to get in on it.
But there's good news: With Blast launching its mainnet tomorrow, past worries might no longer be an issue. Here's what's happening:
Firstly, Blast is changing from just being controlled by a few people (a "multi-sig wallet") to becoming a real L2.
Secondly, they're looking to make things more secure, open, and fair by starting a DAO (like a community-led group) when their token comes out in May.
Thirdly, people will be able to take their assets back, which means a lot of money (around $2 billion) will start moving around in the L2 ecosystem.
This big move is setting up Blast to be one of the top Layer 2 options for Ethereum users.
First up, there’s a lot of projects building on Blast.
Over 3,000 developers signed up for Blast’s Big Bang competition, which encourages developers to join its testnet by rewarding winning projects with a large airdrop.
Secondly, there’s $2 billion locked on Blast right now.
Moving Blast to its mainnet makes it a safer place for users to keep and grow their money through native yield, and the chance to get the $BLAST airdrop.
This means that we can expect the TVL on Blast to remain high.
Because of this, Blast projects should get a lot of support and money, which brings us to our third point…
Thirdly, I expect a lot of newly launched projects to do well over on Blast in the coming weeks.
Whether new projects will drop points or tokens is irrelevant… With so many assets on Blast, a lot of value will flow to every other token drop or points system on Blast.
Don’t be surprised if you see ‘this project on Blast went up 100x in 2 weeks’ all over your X timeline.
Also don't be surprised by scams, which have been reported even before the mainnet officially launched.
It’s very likely that we’re entering a massive hype cycle on Blast. While the risks are big, the opportunity for early adopters could be even bigger.
Some people are calling for this to surpass L2s like Arbitrum and Optimism. While I don’t think that’s the case, I do anticipate that Blast will be massive.
Let’s talk about the top 5 projects building on Blast
Disclaimer: Even highly endorsed projects like Risk, which was supported by Blast and others, can always fail or rug, so DYOR & don’t invest more than you can afford to lose.
MetaStreet turns assets that are hard to sell into tokens that make money, using a process that does it automatically.
These tokens are based on Ethereum and can earn between 10% to 125% in Ethereum every year.
It fits well with LSDfi, making it easier to earn from assets that are usually not liquid.
We had MetaStreet on our podcast where Conor from MetaStreet shared the vision for revolutionizing the NFTfi ecosystem.
Tune in to the conversation on your favorite podcast platform.
Banana Gun is a trading bot you can use on Telegram and soon on a Webapp.
It lets you quickly buy new tokens or trade ones that are already out there.
They aim to be your favorite trading tool for Ethereum, Solana, and now BLAST networks.
the biggest Blast points airdrop possible full support of the Blast team
We’re bullish on Telegram Bots. Check our UNIBOT PRO Report to understand why.
Blitz is like Binance but for the Blast network, offering a comprehensive trading platform.
Delivers the speed and functionality of centralized exchanges.
It's a self-custody platform for futures, spot exchanges, and money markets, ensuring users maintain control of their assets.
Juice is a DEX that supports leveraged trading across multiple assets.
On Juice, you can also join in on other money-making activities on the Blast network and get different rewards.
Juice has allocated airdrops to Pudgy Penguins and Wassies NFT holders, making it a hot topic.
Decentral Games is a virtual world casino that also rolled out a mobile app, so you can play on any device, anywhere.
It includes live games like blackjack, roulette, and poker for a real casino feel.
Their upcoming $BAG token stands to benefit from the rising popularity of the gaming and GambleFi narratives.
Question: Will you bridge assets to BLAST? Let me know with a Yes/No reply to this email!
Thanks for reading. And remember, you're strong, you’re powerful, you’re alpha! ❤️
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Disclaimer: This article is for informational purposes only and not financial advice. Conduct your own research and consult a financial advisor before making investment decisions or taking any action based on the content.
Kyle Reidhead
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