As Blast, an Ethereum layer-2 network, gets ready for its mainnet launch at the end of this month, its total value locked, or TVL, has increased to more than $2.1 billion.
Blast’s TVL has increased by more than 2,200% since its bridging protocol went online on November 22, according to DefiLlama data
The majority of the blocked money is made up of Ethereum users who are excitedly awaiting a Blast token airdrop. They have invested their Ethereum in the protocol in anticipation of a future airdrop, which the protocol’s developer has promised will occur in May.
The Blast protocol’s strategy of locking funds on the platform until the mainnet launch and prohibiting users from removing them caused controversy when it was introduced.
The head of research at Paradigm, Dan Robinson, blasted Blast’s launch, saying it went against communication and implementation standards. Days before its launch, Blast closed a $20 million seed round headed by Standard Crypto and Paradigm.
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