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Unveiling the Potential of Blast Network: A Revolution in Ethereum Layer-2 Scaling

2024-07-10 09:02:18

The Blast Network, which aims to improve Ethereum’s scalability and provide native returns for ETH and stablecoins, has rapidly gained attention as a groundbreaking Ethereum Layer-2 (L2) scaling solution.

In terms of total value locked (TVL), Blast is the fourth-largest Ethereum Layer-2 network as of early June 2024 and holds 7% of the market. It has currently attracted over 2 million users and achieved a total value locked (TVL) of $1.19 billion.

Because of this, the Blast ecosystem has become an essential participant in the cryptocurrency ecosystem, especially for developers and users who want to increase the financial returns on their digital assets and the efficiency of transactions.

This article highlights some of the most prominent cryptocurrency projects in the Blast Network ecosystem and shows how they use this cutting-edge platform to give their users better services and features.

·  Renzo Restaked ETH (REZ)

Within an hour of the claims going live, this token saw $75 million in trading volume and debuted at $289M Market Cap. This token currently has a market cap of over $76.9 million, making it one of the top tokens in the Blast ecosystem.

Renzo token is a protocol that secures actively verified services (AVS) and serves as a gateway to EigenLayer. This token is built on multiple chains, including the Blast ecosystem.

Renzo’s liquid restacking token, ezETH, is automatically awarded to users who stake Ethereum (ETH) on the platform. This token may be used to create a larger yield on various decentralized finance (DeFi) protocols.

To buy REZ token, log in or register on CoinEx; go to the PAC trading page at https://www.coinex.com/en/exchange/REZ-USDT

·  SynFutures V3

With a trading volume of over $1.6 billion as of June 2024, SynFutures is a decentralized perpetual futures system that allows for instant, open, and transparent trading of any assets or listings. 

SynFutures originally released V3 on the Ethereum test net in October. It then planned to release the full protocol on multiple blockchains, including Polygon and zkSync Era, a competing Ethereum Layer 2 network, before committing to Blast and publishing V3 on the test net in January.

SynFutures V3's launch on the Blast mainnet came right after the Layer 2 network's release. 

SynFutures has raised around $36 million in total funding, with investors including Pantera Capital, HashKey Capital, and SIG DT Investments (a unit of the Susquehanna International Group).

·  Juice Finance

JUICE, the company’s native token, is valued at more than $3.1 million on the market. But like with many other Blast tokens, there is now very little of the entire supply in circulation. This results in a fully diluted valuation of roughly $11 million for Juice Finance at 14%.

Built on the Blast L2 network, the Cross-Margin DeFi protocol has the ability to combine lending, borrowing, and yield farming for a full DeFi experience; it provides users with up to 300% USDB leverage for increased yields throughout the ecosystem. Juice’s TVL is currently close to $35 million.

To buy JUICE, log in or register on CoinEx; go to the Juice Finance trading page at https://www.coinex.com/en/exchange/JUICE-USDT

·  PacMoon (PAC)

With a total circulation of 270.6 million, it has a market valuation of more than $23 million.

PacMoon is a community coin and social movement built on the Blast L2 blockchain. PacMoon goes beyond what is often associated with cryptocurrencies by placing a major emphasis on community involvement inside the Blast L2 blockchain environment.

It is a shining example of inclusivity, inviting people from all walks of life to engage with its lively community. PacMoon uses media like Twitter, Telegram, and its own website to let its users connect and have meaningful interactions.

PacMoon's unique strategy for encouraging involvement is fundamental to the platform. People can get incentives in the form of $PAC tokens by producing and disseminating material about PAC coin, which fosters the expansion and health of the ecosystem. 

To buy PAC token, log in or register on CoinEx; go to the PAC trading page at https://www.coinex.com/en/exchange/PAC-USDT

Conclusion

At a crossroads in the development of blockchain technology, the Blast Network presents unique features like gas subsidies for developers and EVM equivalency that could significantly impact the technology’s future.

Its focus on NFTs and anticipated features like NFT perpetual puts it in a position to be the dominant Layer-2 solution in this market.

As the network develops, its creative approach to native yield production and its capacity to provide DeFi and gaming applications with a more accessible, scalable platform may establish new benchmarks for blockchain ecosystems.

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