Crypto Exchange Bitget Introduces Blast On Its PoolX Platform, Allowing To Earn By Staking BLAST
In Brief
Crypto exchange Bitget introduced Blast, on its stake-to-mine platform, PoolX, allowing users to earn popular tokens by staking BLAST.
Cryptocurrency exchange Bitget introduced the Ethereum Layer 2 scaling solution, Blast, on its stake-to-mine platform, PoolX, allowing users to earn popular tokens by staking BLAST.
The total allocation of BLAST tokens for PoolX participants is 4.1 million, with a maximum staking limit of 20.5 million BLAST. This staking event has already begun and will continue until 15:00 UTC on July 7th.
The PoolX token rewards will be allocated to stakers on an hourly basis, determined by their staking volume. The exchange will take hourly snapshots of each user’s stake to calculate their share of the incentives and distribute rewards correspondingly. Additionally, stakers have the flexibility to redeem their funds from the mining pool at any time. Once the mining period concludes, the staked assets will be returned to the staker’s account.
Blast provides native yields for stablecoins and ETH via Real World Asset (RWA) protocols and ETH staking. Individuals have the opportunity to earn returns of 4% on ETH and 5% on stablecoins. This setup creates new incentives and income opportunities for users, with all transactions conducted on Ethereum.
Established by Tieshun Roquerre, the creator of Blur, Blast started functioning in early access mode in November. This launch was supported by a $20 million investment from Paradigm, Standard Crypto, among other investors. The platform launched its mainnet in February. According to DeFiLlama, at present Blast holds over $1.53 billion in total value locked (TVL).
Blast Initiates BLAST Airdrop And Secures Listings On Major Crypto Exchanges
Earlier this week, Blast opened the claiming window for its token and announced BLAST listing on several major cryptocurrency exchanges, including Bitget, Bybit, Gate.io, HTX, and KuCoin, among others.
Currently, BLAST is also available on Bitget for individuals aiming to earn airdrop rewards by completing various activities on the platform. The total prize pool for this event is $50,000 worth of BLAST, and the activity is open until July 2nd. In addition, the project has partnered with the cryptocurrency wallet OKX Web3 Wallet, allowing participants to explore decentralized applications (dApps) on Blast and earn rewards.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
