Blast Network has generated significant buzz, boasting over 1.3 billion TVL and a user base exceeding 100,000. Now, developers have a chance to step into the limelight with the Big Bang Competition, running from January 17 to February 17, 2024.
Let's explore the intricacies of the competition, providing developers with valuable insights to seamlessly integrate into the dynamic ecosystem of Blast.
Blast's Meteoric Rise
Blast, announced in November 2023, has gained attention in the decentralized finance (DeFi) space for its Total Value Locked (TVL) achievements. Surging to popularity, the project attracted 66,000 users within the initial days of its existence, swiftly securing a spot among the top 5 DeFi applications. Notably, by the end of the first week of December 2023, Blast's Web3 protocol successfully reached a remarkable $823 million in TVL, just weeks after its unconventional launch. As of January 30th, 2024, its TVL has soared to $1.323 billion, as reported by DeFiLama. This meteoric rise places Blast at the forefront of DeFi discussions.
The Blast Overview
Blast is a new Ethereum Layer 2 (L2) blockchain project that introduces unique features, primarily focusing on providing native yield for both Ethereum (ETH) and stablecoins.
According to Blast documentation, Blast introduces native yield for ETH and stablecoins, utilizing ETH staking and RWA protocols. In a post-merge scenario, Ethereum yields 4% on ETH, while on-chain T-Bill protocols provide 5% on stablecoins. As an EVM-compatible optimistic rollup, Blast uniquely incorporates these yields, presenting new opportunities for DApp business models. Auto-rebasing with native ETH, L1 staking, USDB stablecoin, gas revenue sharing, and community governance further distinguish Blast in the blockchain space.
What Is Blast Big Bang Competition
Blast Big Bang Competition is a call to developers and innovators to explore the capabilities of their Layer 2 solution. With a focus on native yield for both ETH and stablecoins, Blast encourages participants to leverage their platform to create innovative decentralized applications (DApps) that capitalize on their auto-rebasing mechanism and unique features.
Application Process for Blast Big Bang Competition:
1. Register: Join the Blast Builders community on Slack to participate.
2. Submit: Showcase your project with a captivating 3-minute demo video on the Blast Sepolia testnet.
3. Results Announcement: Winners will be revealed during a live stream on February 21.
Assessment Criteria Overview: Blast Big Bang Competition:
Projects will be evaluated based on concept, execution, and Blast-native features, ensuring a comprehensive assessment.
Blast Big Bang Competition Ideas:
Distinct categories will feature unique sets of DApps and winners within each category. The judging process will be conducted separately for Late Stage and Early Stage projects, ensuring fair assessment and recognition for both.
If you lack inspiration, Blast provides an extensive list of ideas that you can develop for each category:
Blast's Perpetual DEX Ideas: User-Centric Yield-Passing Dex, Zero Fee Monetization Dex, Inclusive Lottery-Style Distribution Dex, Maker-Preferred Yield Dex, Token Holder Incentive Dex, Vault-Boosted Yield Dex.
Blast's Spot DEX Ideas: Yield-Passing Spot Dex, Yield-Rebalancing Spot Dex, Trader-Engaging Lottery-Style Distribution Spot Dex, Sustainable Zero Trading Fee Spot Dex.
Blast's Lending Protocols Ideas: Capital Efficient Lending Protocol, Lending Protocol with Automated Debt Health Improvement, Liquidity-Boosting Lending Protocol.
Blast's NFTs/Gaming Ideas: Yield-Monetized Bonding Curve NFT, Creator-Centric Net Gas Fee NFT, Automated Treasury Growth, Yield-Priced NFT Minting Mechanism, On-Chain Games with User Deposit Escrow, NFT Perpetual Product with User Yield Distribution.
Blast's SocialFi Ideas: Yield-Passing FriendTech alike Platform, Yield-Monetized FriendTech Variant.
Blast's GambleFi Ideas: Onchain Daily Fantasy Sports with Yield Monetization, Yield-Monetized Poker Platform, On-Chain Coin Flip Game with Yield Monetization, Enhanced PoolTogether with Native Yield and Blast Points.
Blast's Infrastructure Ideas: Solidity Libraries for Yield-Passing, Zero Trading Fee TG Bots with Yield Monetization.
Miscellaneous Ideas: The Miscellaneous Ideas category stands as an open invitation for participants to surprise the Blast team with groundbreaking, out-of-the-box concepts.
If you are looking for expert guidance and support in bringing your blockchain project to life in the Blast Big Bang competition, Rock'n'Block is at your service. Our team is well-equipped to bring all your visions to life.
Opportunities and Rewards for Blockchain Projects
The Blast Competition is a chance for projects to showcase creativity and gain recognition. Winners get featured at the mainnet launch, boosting user adoption. The airdrop, a major reward, allocates 50% to developers, with over 90% reserved for Mainnet DApps, making it the largest allocation for competition winners to date.
🏆 🚀 Read more in our full guide!
How Rock’n’Block Can Help
Rock'n'Block, as a blockchain development company, is well-positioned to assist projects looking to participate in the Blast Competition. Our team brings a wealth of experience in blockchain development, smart contract creation, and decentralized application architecture. Here's how we can help:
1. Smart Contract Development
Our expertise in smart contract development can assist projects in creating robust and secure contracts that integrate seamlessly with Blast's auto-rebasing mechanism.
2. DEXs Development
We bring a wealth of experience in secure and high-performance DEX development, like decentralized perpetual futures exchanges and decentralized token exchanges, encompassing AMMs and CLOBs.
3. DApp Development
Rock'n'Block can help you to build decentralized applications that leverage Blast's unique features, such as passing yield to users and optimizing gas fee structures.
4. NFT Solutions
For projects exploring NFTs and gaming, our team can contribute to the NFT platforms development, integrating bonding curves, maximizing creator earnings, and exploring new minting mechanics.
5. DeFi Protocols
In the realm of decentralized finance, our expertise extends to creating and enhancing lending protocols and other DeFi protocols development that align with Blast's vision.
6. Custom Blockchain Solutions
Rock'n'Block is your go-to partner for developing miscellaneous and custom blockchain projects. Our team is ready to turn your unique ideas or specific requirements into reality, even if they don't fit conventional categories.
Disclaimer: This article is a review and not an advertisement. It is not intended to endorse or encourage anyone to buy or invest in any particular project. The information provided is for informational purposes only. We strongly advise to do your own research (DYOR) and seek professional advice before making any investment decisions.