The upcoming Ethereum Layer 2 network Blast has recently become popular in the coin circle; the TV lock-up amount has reached as high as 4 billion US dollars; and even brought Blur, which has been rising nearly 80%, to the attention of the largest trading platform in the coin circle, Binance.
So, what's the story behind Blast?
It claims to be an Ethereum L2 layer network expansion solution; in the crowded L2 network market (such as Arbitrum and Optimism), it aims to make things faster, easier, and cheaper on the sometimes slow and expensive Ethereum blockchain.
It is led in part by Tieshun "Pacman" Roquerre, who is the co-founder of the largest NFT market Blur in the field. Blur is famous for providing ample rewards to traders who use the market and remain loyal, and Blast seems to be committed to doing the same.
Despite Blast not yet being launched, many are still depositing a large amount of currency; its TV lock-up amount has reached as high as 400 million US dollars in the past three days.
How Blast works
Users deposit cryptocurrencies (mainly staking Ethereum (ETH) and stablecoins) to earn rewards; additionally, referrers can receive rewards; those who refer other users can receive "Blast points" airdropped in May. Blast also promises to provide users with a substantial and "risk-free" ETH yield of 4% and a stablecoin yield of 5%; doesn't it sound very attractive and objective? Does this mechanism seem somewhat familiar?
Hidden risks
Blast has not yet been officially launched; the sudden rise of the network and doubts about this model have led to discussions about the safety of investment. It is set to go live on the bridge in February, and as of the writing of this article, Blast itself claims a higher total locked value, reaching 443 million US dollars, with nearly 53,000 users to date.
Because those who refer other users can receive "Blast points" airdropped in May. The project also promises to provide users with a substantial and "risk-free" ETH yield of 4% and a stablecoin yield of 5%.
Some individuals (including NFT developer Phygital and Polygon Labs engineer Jarrod Watts) claim that there is a potential risk in needing three-fifths of anonymous keys to sign and execute transactions. Watts specifically stated that Blast "is not L2," at least not in its current version.
When redeeming staked assets, it requires multi-signature confirmation for redemption; in other words, "investing in Blast is like trusting 3-5 strangers to stake your cryptocurrency," and unless 3 signers decide, you will not be able to withdraw. Does this sound a bit risky? This means that if one person does not sign, you will not be able to redeem your staked assets.
In summary, in terms of staking risks, there is indeed no form of staking in the market that is completely "risk-free"; do you remember the time when Luna's spiral thundered? The most pitiful were actually the ones who staked, while those who bought in the secondary market had nothing to pity, because they understood the most basic principle of a collapse and blindly listened to those in the market shouting to buy in; inexplicably confident.
Market analysis
It took 15 days to break through from 32000 to 36000; currently, it has been 16 days from 36000 to 38000, and there has not been an effective breakthrough; instead, there was a false breakthrough of the previous high. The viewpoint here remains the same as in the previous issues, not overly bearish, considering a small short position to hedge our spot assets; there has not been a substantial change in the pattern here, so those who want to short need to be more patient.
Creating a high-quality community
Spot is the main focus
I will share some content: as shown in the following conditions:
Overall position ≥ 10,000 USDT. If you want to join, follow me.
(Operating with a few hundred or a few thousand has too little room; if you don't have it, you can also send a private message, and if you pass the screening, you can join. Purpose: to grow and strengthen, and create brilliance in the next bull market!
This is the end of the article; I will do a more detailed analysis in the discussion group. If you want to join my community, please follow directly.
I won't write an article today, so everyone click on the colored words above and check out today's market analysis.
Click on the light-colored words above to see the latest layout of the market. The market changes rapidly, for more market information, please follow me
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
