Ethereum’s Layer 2 Blast Skyrockets to Half a Billion, Meme Moguls (MGLS) Sees Inflow of New Investors
The DeFi ecosystem has been agog with the launch of Ethereum’s Layer 2 project, Blast”, which aims to eradicate issues relating to speed, cost, and scalability. While the market is still basking in excitement, Meme Moguls, currently undergoing its presale, is tapping into the wave, pulling more crowd and attention to is projected which promises exciting rewards. Let’s find out what Ethereum’s Layer 2 Blast is all about and why Meme Moguls (MGLS) is making waves.
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Ethereum’s New Project, Layer 2 Blast Attracts Buzz and Over Half a Billion To Match
It’s been over a week since the Ethereum layer-2 Blast went live and the buzz it’s created in the DeFi world is being backed up by investors pumping serious money. The project has garnered over $535 million in total value locked (TVL), according to Defi Llama.
Layer 2 is basically an umbrella term used to describe solutions that build on top of Layer 1 to enhance the scalability of the Ethereum network. This means Layer 2 will make Ethereum more usable for a greater number of people. The amount of inflow and locked value in a matter of days is a testament to a strong demand for Layer 2.
Blast also aims to provide native yield for stablecoins and Ethereum, allowing users to stake (or lock up) their funds in the network to earn an interest-like return. Led by the founder of top NFT marketplace Blur, Tieshun Roquerre, the network also entices investors with Blur-like rewards ahead for users, bringing in more early adopters to lock up their money in anticipation of its airdrop to both investors and developers.
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