(Blast) What Is Blast The layer 2 On Ethereum Blockchain? Low Cap Gem ?Find Out Here In This Review!

welcome to underground crypto back with another deep dive for you guys hope you've been enjoying the new series that we're doing what's trending daily top gainers we've been putting those out more to come hopefully going to get them out every day we'll see busy schedule now today we're going to be going over blast blast I've been seeing is trending of course if you caught my daily trending video of the day but I've also heard rumbles of you know on Twitter about it and stuff like that so it seems to be catching a lot of popularity it's got a $44.31 billion dollar 100 billion dollar 100 billion tokens is what I mean and then the circulating Supply is only 17.2 billion so that tells us there's a lot of Supply somewhere and where is that Supply I don't know hopefully

we will find out so if you look at the 24-hour chart it was as high as you know 028 so almost 3 cents and right now we're sitting at 024 it is up up 4.8 4.7% on the day but we are down in the 24 hours if you go to the 7day it looks pretty much the same all of these look exactly the same looks like the latest it has it back is to June 26th that's interesting I know this is a newer coin and then it has the contract address blast uh symbol here meaning that there must be a blast blockchain which is cool of course and we will open up the website in a new window and take a look at that in a minute same with the Twitter we will be looking at that shortly and

we are going to read the about so it says blast is the only ethereum layer 2 L2 with the native yield for eth and stable coin blast yield comes from eth staking and real world assets rwa protocols which is a very popular Niche right now and I think will continue to be automatically passing the yield back to the users while the other l2s have default interest rates of 0% blast offers three .4 yield for eth and 8% for stable coins blast is unique in providing Builders with new building blocks native yield and gas Revenue sharing daps can use these to build more competitive products and business models than any other chain so right there gives you a short summary we will be going to their website and going over that and at the end of this review I'm not

a financial advisor nothing I say or do should be taken as Financial advice but after the review if you want to speculate AKA invest in this coin where can you get it so exchanges you got buy bit bit thumb upbit gate.io get bitg get htx x.com Thruster volume 3 C coin bitmart I wonder what Thruster is that must be on the blast blockchain at the decentralized exchange that's pretty cool maybe we'll do a review of that at some point um yeah and there's more pages of the but these are your top ones only one on here that I would really use is C coin or bitmart and that's because I although I live in the United States I have a poow digital residency ID if that's something that you want so that you don't have to worry about exchanges

and getting kicked off or losing money or something like that you might want to look into a pull out ID all right so let's check out their website I have not looked at their website previous to recording that it's kind of the point of the channel is we Deep dive stuff together I was already doing these deep Dives on these different coins on a daily basis so I figured why not build a community why not make these videos and make it easier because some people are busy and they just want to listen to it and get the the get the Deep research get the Deep deeper things behind these coins before they invest but maybe you're really busy and you don't really have time to sit here and read their website and go over their Twitter so hopefully I'm

making that life a little bit easier there so it says claim phase one airdrops so they're doing some kind of airdrops for sure and then it says the full stack chain the only evm chain with Native yield for eth and stable coins bridge and earn and that looks like the whole website let's see what else we got here let's see what the vision is oh wow we got actual little video I wonder how long this video is to be honest with you and we got to turn the volume way down cuz hey everyone you know not too long ago the blast foundation and arcade research actually reached out to me to help Pacman share the story and vision behind blast and with all of the exciting announcements around the blast ecosystem in phase two now starting I kind of

figured the best place to start would be by interviewing Pacman himself the CEO of arcade research and a core contributor to the blast foundation so with that said let's dig in all right guys I was hoping that that video would be you know a little bit shorter a little more compact looks like that video is 41 minutes and 50 seconds so I don't think you guys want me to play that you can certainly go look at that on your own time so it says Chinese so is this a Chinese project I don't know read this post to better understand the future of blast to understand the past check it out blast first quarterly report as you know blast started as the chain with the native yield in four months Blast has grown to the sixth largest onchain economy and

is one of the fastest growing chains of all time we have a chart here tbll 100 days and it certainly has been moving what are these other lines in relation to I don't know they didn't tell us on that chart so the big question now is what's next blast overarching purpose is to accelerate the Market's transition from offchain economy to onchain economy to understand how to do that let's First Take look at the person at the present state of the world if you look at existing chains today you'll notice they all have a similar end user experience each chain focuses on optimizing the chain itself while relying on third parties for the rest of the stack this approach is effectively the Android approach where they optimize the operating system and rely on third parties for the rest an Android

approach has worked for chain so far but it has resulted in an ecosystem that is fragmented and INF filled with friction so that right there tells you what it's what they're kind of looking to solve or have already solved um ecosystem that is fragmented and filled with friction so they're trying to get rid of those things so the existing chain ecosystem you have the bank you have your centralized exchange desktop wallets mobile wallets then you have the chain itself and the decentralized applications under that unlike Android Apple takes full stack approach they build everything from the software to the hardware to the optimize across the full stack this approach drastically accelerates the transition from mobile and results to the most valuable mobile ecosystem in the world so they're saying they're taking the model of how Apple does things to

the blockchain to build this blast blockchain the focus of the next phase of blast phase two is to create the full stack chain so here is a you know this is the previous system or pyramid of how things are working and this is how they want it to be Bank blast in the middle decentralized application you can see how this looks a lot simpler this looks a lot simpler than this and would be less friction and easier to use without giving too much away in phase two the blast foundation will work with communities to create a desktop and Mobile Wallet specifically for crypto natives there is a clear opportunity to build and experience significant significantly better than metamask and leverage incentives to accelerate adoption but that's just the beginning now it's important to address the two repeated arguments against

blast incentives and deun focus just seeing how long this is I don't know if we want to read the entirety of it let's go back to the website aird drops leaderboard devs why blast let's take a look at that so why a new layer too after the merge ethereum provides 4% yield on eth onchain T Bill protocol provide 5% yield on stable coins if users do not match or beat these rates they are losing money to form to a form of inflation l2s todays do not have this yield incorporating eth ethereum and stable coin yield natives requires a new L2 design from the ground up blast is an evm ethereum virtual machine compatible optimistic rollup that raises the Baseline yield for users and developers without try without changing the experien crypto natives expect this yield makes it possible to

create new business models for daps that aren't possible on other layer twos how blast Works Auto rebasing eth itself not wrapped e eum or Stak ethereum or any other erc20 is natively rebasing on the layer 2 the eth balance for E OAS or um I'm not sure exactly what that stands for is automatically rebasing smart contracts can opt in to this rebasing making it easier to existing daps to deploy on blast without any changes usdb blast n native stable coin so that's usdb is the stable coin on blast I didn't know that is automatically rebasing as well like eth on blast usdb is automatically rebasing for EAS which I should know what that means but it's not coming to me usdb is also automatically rebasing for smart contracts smart contracts can opt out from this rebasing and then you

got layer one staking and then you have this T Bill yield which I'm not sure what that means so let's read that users who Bridge stable coins Rees usdb blast Auto rebasing stable coin the yield for usdb comes from the maker Dow onchain T Bill protocol so T bill is a protocol usdb can be redeemed for Dai when bridging back to ethereum in the future the blast Community will have the power to supplement or even replace maker da with blast native solution or other third party protocols and then the part you guys probably care more about gas Revenue sharing other layer twos keep revenue from gas fees for themselves blast gives net gas Revenue back to daps decentralized application programmatically daps developers can keep this revenue for themselves or use it to subsidize gas fees for the users let's

see oh we got some tokenomics here all right this is what we really want to see so this is the tokenomics ticker blast BL total Supply 100 billion we went over that here's the correct address and the only address don't use any other contract addresses but this one and um you'll find that on coin gecko really easily so token allocation 50% for the community 25.5% for core contributors investors 16.5% and blast Foundation keeps 8% token distribution Community blast success is only due to the community of users that build and that contribute to the ecosystem so 50% of the total blast Supply is reserved for the community and will be distributed through incentive campaigns 100% of this allocation will go directly to the community the community allocations unlock linear linearly over 3 years from the date of the tge and

any distributions will be according to schedule determined by the blast foundation so when we were going over the tokenomics in the very beginning of this video and I was saying where are all the coins because you know I think it was 17.2 billion were actually in circulation and you have a 100 billion in the max Supply which is kind of worrisome because you want to make sure a large majority of those coins are not held by early investors and early seed rounds who are going to dump on your head as soon as you know they are allowed to and that's different depending on what project you're in they set up different um you know investing schedules of when people can get out and sell their coins so 50% of this there is saying is going to go so that's

50 billion tokens are going to go um to the community allocation and be unlocked literally over the next 3 years so that's good at least we have some idea where those tokens are what they're going to be used for then you have core contributors and that's that's 25.5% which is about 25.4 uh billion tokens all tokens distributed to core core contributors are subject to a 4-year lockup period which is good for any investor with 25% the core contributor unlock token unlocks one year after the date of the tge followed by a linear unlock over unlock each month over the following three years so there will be some unlocks after a year and then there will be more unlocks you know on a monthly basis it looks like over the next three so investors they allocated 16.5% of the 100

billion which is 16.5% or 16.5 billion tokens that they are I guess allowed for early investors to buy in because they do need that that liquidity I mean everybody gets mad about early investors and and Seed runs and you know seed periods where they sell tokens but in all reality um they need that liquidity to build and and to pull people in to do marketing so it is kind of a necessary evil when you're launching a new new token evil I guess is a perspective thing if you believe it's bad all tokens distributed to investors are subject to a four-year lockup period so whatever was going to be unlocked after onee period it's not going to be the stuff that investors had so investors who bought into this are subject to hold for 4 years which is pretty good

for us with 25% of the investor token unlocked one year after the date of the tge followed by a linear unlock each month over the next following 3 years and then blast Foundation is keeping 8 billion tokens 8% and it says the foundation allocation will be held in reserves to be used towards critical infrastructure and further growing the blast ecosystem the foundation allocation is unlocked linearly over 4year period of time from the date of the tge and that is good to know so you have this phase one airdrop which is like a community incentive thing that's part of the 50 billion tokens that they held to you know put out in community incentives aird drops would be one of those because that gets people a lot of times for farming the airdrops if you've never heard of this kind

of thing maybe you're new to you know blockchain and the decentralized defi part of it and not just the buying the coins on coin gecko but um they get people to farm the air drops people have to do specific types of interactions with the blockchain that gets the activity on the blockchain itself blast blockchain up you know and that gets everybody excited because the numbers are going up and people can see an increase in activity adoption those kind of things and so that's why they do these airdrops they're not just because they want to give away free token so you got blast Point 7% blast gold 7% and blur foundation not sure what some of those are they're going to tell us so blast point is 7% users that bridge eth or usdb to blast bootstrapped the initial liquidity

on the blast ecosystem and earn blast points throughout Phase 1 these users will be rewarded with 7% of the total blast Supply that's pretty good blast gold users that contribute to contributed to the success of decentralized applications earned blast gold and will be rewarded with 7% of the total blast Supply that's pretty good vesting the top .1% of users thousand wallets will vest part of their airdrop linear over 6 months vesting is a subject vesting is subject to reaching a monthly Point threshold based on phase one activity further details will be provided on June 26th so that would have been yesterday today is June 27th blur Foundation 3% the blur foundation will receive 3% of the total blast Supply to contribute to the blur Community for both retroactive and future airdrops so that's all pretty cool stuff um let's

see what else they have here they got Bridges contract verification don't want to get too technical on you guys and lose some of lose some of the people who really don't want to hear all of those things they just want to hear what it's about and what the point is so we're going to jump over to you guessed it Twitter and we're going to go I mean this already has a huge Market cap what did we say it was it was 414 billion or million sorry that is a misspeak I know that people will comment and make a big deal about that the market cap of blast is $414 million which is not too shabby for a new project so we'll click follow over here please come follow me over here at underground uncorr crypto that's Crypton atore ground

crypto because underground crypto was obviously taken so we're going to follow them and I will repo repost retweet whatever you want to call it certain things that I think are important so right off the bat let's see how many followers 8 8572 th000 followers that is not too shabby says it joined July 2023 they got their Discord and a link to their you know their Vision which is what we already read I believe it had the long video in that section all right so the pin post was was on the 26 which was yesterday and it already has 1.1 million impressions that is bullish in my opinion that's very bullish I don't know if they paid a lot of money for marketing it probably is because they have air drops going on you know and that's a really big

deal to people um it's basically free money if you know what you're doing and are you know active in the community blast app pretty sick having single mobile app for everything to do on chain is going to be killer social layer ones or social layer plus consumer app thesis it's pretty cool maybe I'll check that out and make a little video about the application itself does seem like this has a lot of China um you know Association that this has something to do with China cuz they have posts written completely in Chinese so that's pretty interesting looks like most of their posts are written in Chinese okay that is interesting which is not a horrible thing I mean we're you know there's a lot of technological advances over in China we don't necessarily have to be scared of that

I know that everybody in crypto's been here knows that they've been trying to quote unquote cancel uh cryptocurrencies for a long time but have they really I don't think so