Blockchain
Bitfinex Lists BLAST, Native Token of Blast L2, Improving Yield Opportunities
Bitfinex, a leading digital asset trading platform, announced that it will be among the first exchanges to list BLAST, the native token of Blast, a layer-2 token based on Ethereum block chain. This move should improve staking and yield opportunities for users, according to Bitfinex Blog.
Blast L2: an innovative Layer-2 solution
Blast, developed by the creators of the renowned NFT platform Blur, is an EVM-compatible solution designed to address Ethereum’s scalability issues by increasing transaction throughput and reducing costs. The platform offers native yield for ether (ETH) and stablecoins, distinguishing itself from traditional staking mechanisms.
Automated staking and yield generation
Unlike conventional staking, which requires active user involvement, Blast automates staking responsibilities within its ecosystem. Once assets are connected to the Blast network on the Ethereum mainchain, they seamlessly undergo automatic staking, triggering interest accrual. Thanks to Blast’s smart contracts, this interest is pooled and subsequently distributed to users in the form of ETH and stablecoins.
Listing Details
BLAST vaults will open around 2pm UTC on June 24, 2024, subject to network conditions. Trading is expected to begin around 15:00 UTC on June 26, 2024, subject to liquidity requirements being met. BLAST will be tradable against US dollars (BLAST/USD) and Tether tokens (BLAST/USDt).
Bitfinex’s commitment to innovation
“Blast is an exciting project that offers customers more opportunities to earn returns by staking their digital assets. We are pleased to add BLAST to our broad selection of token offerings for our customers,” said Henry Child, Head of Tokens at Bitfinex .
About Bitfinex
Founded in 2012, Bitfinex is a digital token trading platform that offers cutting-edge services for global traders and liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer funding, an OTC marketplace, and margin trading for a wide selection of digital tokens. The platform focuses on providing unparalleled support, tools, and innovation for experienced traders and liquidity providers around the world.
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