Blast L2 crosses $720m in TVL ahead of promised mainnet
A layer-2 network launched by Pacman, creator of NFT marketplace Blur, continues to attract deposits while working on its mainnet . The total value locked (TVL) for decentralized L2 blockchain Blast surpassed $720 million, according to data from DefiLlama seen on Dec. 4. The climb to this level represents a $120 million increase in deposits since crypto.news last reported on Blast’s TVL. Tieshun Roquerre, Blur’s co-founder, better known as Pacman, launched Blast in November 2023 as a native yield chain with an attached token airdrop. The project did not have a mainnet at inception. Instead, Pacman and his team released a multi-sig smart contract for early users to pre-fund their accounts while earning interest on their crypto deposits. Less than a month after its launch, Blast is now the third largest holder of staked Ether (stETH), according to 21Shares researcher Tom Wan, citing Dune analytics data. The protocol’s multi-sig holds over $640 million in stETH as inflows poure...