Summary
TLDR: Blast launched its optimistic rollup, allowing users to withdraw funds locked in a team multisig for over three months. The value of user deposits reached $2.3 billion but there were concerns about withdrawals and delays in moving funds back to mainnet. Despite rug-pulls and scams, Blast has gained users and developers, making it the third-largest layer-2 network on Ethereum.
Key Points
1. Blast launched its optimistic rollup late Thursday, allowing users to withdraw funds locked in a team multisig for over three months.
2. The value of user deposits crept up to nearly $2.3 billion by launch time, giving users the choice to withdraw or find something to do with the funds on the newly launched layer-2.
3. Data from DefiLlama showed that the balance of the Blast bridge contract had plummeted by about 70%, with some funds moving into Blast’s ETH Yield Manager Proxy instead of leaving the network as a result of user withdrawals.