BLAST is the token and governance asset of Blast — an Ethereum Layer 2 network built on the OP Stack, notable for being the first L2 with native yield built in at the protocol level: all ETH bridged to Blast earns staking yield (via Lido’s stETH) automatically, and all stablecoins bridged earn T-Bill yield (via MakerDAO’s DSR), with yields passed back to users’ wallets and dApps without any manual action.
| Stat | Value |
|---|---|
| Ticker | BLAST |
| Price | $0.00 |
| Market Cap | $30.95M |
| 24h Change | +1.3% |
| Circulating Supply | 59.58B BLAST |
| Max Supply | 100.00B BLAST |
| All-Time High | $0.03 |
| Contract (Blast) | 0xb1a5...e2ad |
How It Works
- Native ETH yield — ETH bridged to Blast is deployed into Lido’s stETH liquid staking. The staking yield is passed back to Blast wallets automatically, increasing the ETH balance over time.
- Native stablecoin yield — USDB (Blast’s native stablecoin) earns yield from MakerDAO’s DAI Savings Rate (DSR). USDC bridged to Blast is converted to USDB and earns yield automatically.
- OP Stack rollup — Blast uses the Optimism OP Stack for its rollup architecture — an optimistic rollup architecture for EVM compatibility and Ethereum settlement.
- BLAST token — The BLAST token is the governance token for the Blast ecosystem, distributable to early depositors and protocol participants via a points and airdrop system.
- dApp yield sharing — Blast allows DApp developers to choose whether to retain yield for their protocol or pass it entirely to users, enabling customizable yield models.
Tokenomics
| Parameter | Value |
|---|---|
| Ticker | BLAST |
| Total Supply | 100,000,000,000 (100 billion) |
| Launch | June 26, 2024 (mainnet + token) |
| Chain | Blast L2 (OP Stack, Ethereum settlement) |
| Native yield | ETH → stETH yield; stablecoins → DSR yield |
| Gas token | ETH (on Blast L2) |
Use Cases
- Native yield — Earn ETH staking and stablecoin yields automatically just by holding assets on Blast.
- Governance — BLAST token holders vote on protocol direction.
- DeFi — Blast’s native yield gives DeFi protocols on Blast a built-in yield advantage over standard L2s.
- Gaming and NFTs — Blast attracted early gaming and NFT projects via Pacman’s connection with Blur community.
History
- 2023-11 — Pacman (founder of Blur NFT marketplace) secretly launches Blast with a pre-launch deposit mechanism. Users can bridge ETH to Blast (locked until mainnet launch in early 2024) to earn “Blast Points.”
- 2023-11 to 2024-02 — Blast pre-launch deposit campaign generates billions in locked ETH. Controversy erupts: some call the locked-ETH mechanism a “Ponzi” because only points (not yield) are earned during the lockup, and the pre-launch marketing is seen as deceptive.
- 2024-02-29 — Blast mainnet (early access) launches. Some users can bridge and use the network. ETH yield and USDB yield go live.
- 2024-06-26 — Blast mainnet fully launches. BLAST airdrop distributed to points holders. BLAST token begins trading.
- 2024 — Blast ecosystem grows with gaming, DeFi, and NFT projects. TVL reaches several billion USD. BLAST token falls from its launch peak as airdrop sellers exit.
Common Misconceptions
“Blast creates yield from thin air.”
Blast’s yield comes from real, established sources — Lido’s Ethereum staking (consensus and execution layer rewards) and MakerDAO’s DAI Savings Rate (derived from stability fees and real-world asset yields). No new yield is created; existing yield is routed to users.
“BLAST is Ethereum’s native token.”
BLAST is the governance token of the Blast L2 network. ETH remains the gas token for transactions on Blast. BLAST is a separate governance asset.
Social Media Sentiment
Blast generated intense debate at launch: its pre-launch locked deposit mechanism was criticized as manipulative and risky (locked ETH during an unaudited pre-launch period). Supporters praised the native yield concept as fundamentally superior to standard L2s. Post-airdrop sentiment is mixed, as most L2 governance tokens have declined post-distribution. The native yield mechanic remains the most distinctive feature in the L2 landscape.
Last updated: 2026-04