Ethereum’s Blast layer-2 network launch has been met with excitement and fear, with nearly $1.6 billion of its initial deposits being withdrawn by investors within the first 24 hours. As witnessed in Defillama data, this movement of funds has highlighted the challenges new platforms face to establish themselves.
Rapid Decline in Total Value Locked
Per the Coingape reports, the Blast network boasted a total value locked (TVL) of $2.3 billion upon its launch. These numbers were, however, slashed to $650 million since users started withdrawing their funds from the platform. The network, therefore, that had presented itself as a promising new player in the Ethereum community, providing an ether (ETH) native yield on staked ETH, saw its fortunes change dramatically in a day.
The initial allure of Blast was partly due to its innovative approach to generating yield for its users. Users were also promised Blast points by staking their ETH, which could later be exchanged for a token airdrop.
We współpracy z: https://coingape.com/blast-layer-2-chain-sees-1-6b-withdrawn-in-first-24-hours/
