Markets News Report
January 16, 2024

Blast to Launch Testnet for Thruster DEX Offering Enhanced User Advantages

Blast to Launch Testnet for Thruster DEX Offering Enhanced User Advantages

Ethereum’s Layer 2 network project Blast announced plans to launch a testnet for its native decentralized exchange (DEX) Thruster. The primary objective of this DEX is to provide advantages to traders, liquidity providers, and developers.

It intends to achieve this by utilizing Blast’s native income, offering customized liquidity solutions, and presenting a more user-friendly and streamlined user interface.

The fundamental features of Thruster are built upon the Blast platform, incorporating elements such as native revenue, low gas costs, a developer-friendly environment, and familiarity with the Ethereum Virtual Machine (EVM). Further details about Thruster’s partners are expected to be disclosed in the upcoming weeks, according to the developer. 

Among its functionalities, Thruster incorporates the complete life cycle of a token into its protocol, featuring robust fair launch mechanisms and liquidity tools tailored for developers. For users, it provides support for income tools along with social and analytical functions, enhancing the ease of trading and liquidity provision.

Blast operates as an EVM-compatible optimistic rollup, elevating the baseline yield for both users and developers. Blast promises users that their balances will undergo automatic compounding, resulting in additional Blast rewards. When a user cross-chains Ethereum or stablecoins like USDC, USDT, and DAI to Blast, these funds are deposited into an on-chain treasury protocol.

The generated proceeds are subsequently transferred back to Blast users through Blast’s automatic base stablecoin, USDB.

Developed by Pacman, a co-founder of the NFT marketplace Blur, along with a team boasting experience from MakerDAO, MIT, Yale, and Seoul National University, the Blast Layer 2 network has recently been introduced and anticipates a mainnet launch in February.

Blast Advances to Propel Blur Ecosystem

Simultaneously with the Blast launch last year, its founder, Pacman, disclosed the successful fundraising of $40 million, earmarked for the advancement of the NFT aggregation market within the Blur (BLUR) ecosystem. With this funding, Pacman outlined plans to develop the decentralized applications (DApps) on Blast and the promote NFTs on Ethereum Layer 1.

Within a few days of its launch, Blast achieved a total value of assets locked (TVL) amounting to $373 million, and fueled by its popularity, at the time of writing, it has surged to $1.324 billion. Concurrently, BLUR, the native token of the Blur marketplace, observed a price increase of over 80% following its subsequent listing on Binance and the Blast launch.

Recently, BLUR experienced a rapid increase, reaching 0.67 USDT, and is currently quoted at 0.662 USDT, with a 24-hour increase of 15.34%, as reported by the OKX market, signifying its sustained growth.

Blast’s planned testnet for Thruster reflects the development team’s dedication to delivering improved advantages for users, contributing to the ongoing growth of the Blur ecosystem.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

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Alisa Davidson
Alisa Davidson

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

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