How to Link ETH to a Blast Layer-2 Network and the Other Way Around
a comprehensive, tip-filled walkthrough. tips and cautions
Built on top of Ethereum, Blast is the newest Layer-2 network to make news as degens bridge their ETH, engage in onchain activities, and accrue BLAST points. We will look at how to get started in the Blast ecosystem in this article.
We understand that switching your valuable tokens to a new L2 network can be a little scary at first. Blast, which launched a multisig deposit wallet months before the network was up, only served to reinforce that sentiment. Those that deposited ETH are already benefiting from Blast’s mainnet launch. They accrued points, and in April, a BLAST token airdrop will be made possible by those points.
You still have plenty of chances to join the degeneracy till then. You may find a detailed tutorial on how to begin using Blast below.
Link ETH with Blast or vice versa
Blast is a bridge unto itself. However, it turned out that this bridge was extremely inefficient, costing users a very high price for gas. As a result, we suggest that you choose an alternative. Consider Orbiter Finance or Rhino Finance. The sample that follows will make use of Rhino.Fi.
Visit Rhino.Fi.
In the upper right corner of the page, select “Connect wallet.”
Choose your wallet program, then click the signature
Next, select “Authenticate Wallet” from the pop-up menu.
Once verified, click “Enable L2 access.”
In the wallet app, add another signature.
We neglected to register your email address voluntarily.
Your wallet is now connected.
You now specify the chain’s token you wish to transfer, and you choose the destination at the bottom: ETH via Blast
Click “Bridge.”
If necessary, switch networks in your wallet app, and then “Confirm” the transaction there.
This is the time for bridging, which, depending on the chains you’re using, could take several minutes or even hours.
The cost of bridging to and from Ethereum might range from $20 to $200. But it will only cost you $2 to bridge across multiple Layer-2 networks.
It was declared by Rhino.fi that they will not impose any service costs until March 31, 2024, for bridging to Blast.
Please read on to reconsider using the native Blast bridge if you would still like to.
Avoid using the native bridge in Blast.
It should come as no surprise that Blast contains some intriguing and disruptive mechanics—after all, Pacman is the man behind Blur. Naturally, native yield is included in this, which is fantastic. However, there’s more. Those who choose to use the native bridge created by the Blast team to transfer their winnings from Blast back to the Ethereum mainnet will find that there is a withdrawal delay.
Users who request a withdrawal first must wait at least one hour before providing proof of their request. There is a further 14-day waiting time after that before the withdrawal actually happens.
Stablecoins and ETH both have native yield on Blast, however it’s crucial to remember that money used for withdrawals will no longer generate any interest. Not a yield. Nothing to gain. No incentives. The Blast development team will most likely receive yield on ETH throughout that period.
What is the BLAST airdrop and Blast Points?
Individuals that transfer Ethereum over the Blast will begin to accrue Blast Points. Early donors get ten times as many points as usual, but only if they temporarily store their ETH on Blast.
The larger your share of the BLAST token airdrop, the more points you get on Blast. Engaging in other ecosystem activities, such as trading memecoins, will help you accrue more Blast Points.
Join Blast's other cryptocurrency token airdrops.
The fact that practically every project on Blast has its own point system adds interest to the ecosystem’s current state. This implies that you will receive points for the specific DeFi protocols in addition to Blast Points when you switch on or engage with DYORswap, MangroveDAO, and ThrusterFi.
Because it’s all a component of point farming, this also explains why so many memecoins are launching on Blast at the moment. The same thing has happened to Solana before. Become a DappRadar PRO member to gain access to Hot Contracts on Blast, only available to true degens. Next, you may check which new token is released every minute, which will help you maximize your point-faring efforts.
Be careful when using Blast.
One important point regarding Blast at this time. Every ten minutes, fresh memecoins debut in this degen paradise. Furthermore, not every dapp will be there for a long time. Scams might exist. Thus, it’s helpful to know that Revoke.Cash has made Blast compatible via their dashboard.
Recall.Reversing token approvals is possible with Cash, which should guard you against some scams. In the event that you authorized tokens but are unsure of their validity. Then, be sure to withdraw the approvals as quickly as you can.
Find out more about Blast
To find out more and explore the data that comprises the Blast ecosystem, click on the links below.
Blast, the Layer-2 with native yield: a comprehensive guide to blockchain technology
💡 Blast chain page: comprehensive information about the entire Blast ecosystem
📊 Explore all listed Dapps and sort them based on important parameters with Blast Dapp Rankings
🔥 View the Hot Contracts to see what’s trending on Blast.
