Auto reset

Automatic reset is a unique feature of Blast, which sets it apart from other Layer 2 (L2) solutions. In the Blast ecosystem, the balances of ETH and USDB (Blast's native stablecoin) will automatically reset to reflect the accumulated earnings over time. This reset process takes place directly in the Ethereum L2 environment, providing a smooth user experience. For externally owned accounts (EOAs), the ETH balance will increase automatically as earnings are generated. This means that users do not need to convert ETH to WETH or stake ETH derivatives to earn interest. The native ETH balance itself grows, providing users with a simple and efficient way to earn income.

For smart contracts, the automatic reset function can be enabled, allowing existing decentralized applications (dApps) to be deployed on Blast without significant changes to their codebase. This selection mechanism provides flexibility for developers who want to leverage the automatic reset function while maintaining control over contract behavior. USDB operates similarly, automatically resetting both EOA and smart contracts, but contracts have the option to opt out if developers prefer. This automatic adjustment simplifies the user experience, ensuring that everyone can benefit from the profits without adding extra steps.

The design of automatic reset in Blast solves a key requirement in the DeFi field: usability. By eliminating the need for users to actively manage income strategies, Blast makes it more accessible to a wider audience. The simplicity and efficiency of automatic reset make Blast an attractive choice for users who want to maximize their income without facing the complexity of other income generation mechanisms.

The implementation of automatic reset on Blast is made possible by the underlying smart contract architecture, which can automatically adjust balances. This ensures the consistency and reliability of the reset, seamlessly integrating with the user's existing Ethereum experience. By providing this feature, Blast sets a new standard for modern L2 solutions, combining yield generation, ease of use, and extensive compatibility.

L1 Staking

The L1 staking in Blast utilizes the staking power of Ethereum to directly provide benefits to users. With the Shanghai upgrade of Ethereum, this function has been realized, making the staking mechanism more efficient. Initially, Blast utilized the popular staking service, Lido, to generate benefits from L1 ETH staking. The benefits generated from these staked ETH assets will be automatically transferred to the L2 user account by resetting ETH. This process ensures that users can receive staking rewards without actively managing their staked assets or dealing with complex staking procedures.

The use of L1 staking to provide income for Blast highlights the platform's commitment to benefiting users by leveraging existing Ethereum infrastructure. By integrating with Lido, Blast is able to offer competitive returns, which are directly reflected in users' ETH balances on L2. This integration not only streamlines the staking process for users but also enhances the overall security and efficiency of income generation mechanisms. Users can enjoy the robustness and reliability of Lido's staking operations while experiencing the convenience of automatic income distribution on Blast.

In the future, the Blast community will have the power to decide whether to supplement or completely replace Lido and Blast's native solutions or other third-party protocols. This flexibility ensures that the platform can adapt to the ever-changing environment and user preferences, further optimizing revenue generation and distribution. The community-driven selection of staking providers highlights Blast's decentralized philosophy and commitment to user governance.

By combining L1 staking with automatic yield distribution through resetting ETH, Blast stands out among other L2 solutions. It provides users with a seamless way to enjoy staking rewards while maintaining the simplicity and accessibility core to Blast's design philosophy. This innovative approach ensures that users can maximize their profits with minimal effort, making Blast an attractive choice for both novice and experienced DeFi participants.

T-Bill yield

The T-Bill yield in Blast refers to the stablecoin yield generated through the on-chain Treasury Bill (T-Bill) protocol. When users bridge their stablecoins to Blast, they will receive USDB, which is Blast's automatically resetting stablecoin. The yield of USDB comes from MakerDAO's on-chain T-Bill protocol. This integration enables Blast to provide stable and predictable yields for stablecoins, and this yield will automatically reflect in the user's USDB balance on the platform.

Using the T-Bill protocol to generate returns is Blast's strategic choice, as it leverages mature and reliable financial instruments to provide consistent returns. MakerDAO's T-Bill protocol is recognized for its stability and effectiveness in managing on-chain assets. By integrating this protocol, Blast ensures that users can earn competitive returns on its stablecoin without bearing additional risks associated with more volatile assets. This approach is aligned with Blast's goal of providing users with a simple and effective mechanism for generating returns.

USDB can be exchanged for DAI when bridging back to Ethereum, providing users with flexibility and liquidity. This exchange process ensures that users can easily convert their stablecoin holdings into widely accepted cryptocurrency forms when needed. The seamless bridging and exchange process enhances the overall user experience, making asset movement between Blast and Ethereum simple while continuing to earn returns.

Looking ahead, the Blast community will have the right to supplement or completely replace the T-Bill protocol of MakerDAO with the Blast native solution or other third-party protocols. This flexibility ensures that the platform can adapt to changing market conditions and user preferences, further optimizing the income generation process. The community-driven governance model allows users to participate in the decision-making of income sources and management, promoting transparency and aligning with user interests.

The T-Bill yield mechanism in Blast provides a reliable and user-friendly way to earn returns on stablecoins.

Gas Revenue Sharing

Gas revenue sharing is a unique feature of Blast that sets it apart from other L2 solutions. Unlike other platforms that retain gas fee revenue, Blast programmatically distributes net gas revenue to dApp developers. This approach ensures that developers who contribute to the ecosystem by creating and maintaining dApps are rewarded accordingly. By sharing gas revenue, Blast incentivizes developers to build and maintain high-quality applications, promoting a vibrant and innovative ecosystem.

Developers on Blast can choose to keep gas income for themselves or use it to subsidize user gas costs. This flexibility allows developers to make strategic decisions based on their specific needs and goals. For example, developers may choose to subsidize gas costs to attract more users and increase interaction with their dApp. On the other hand, they may also choose to keep the income to fund further development and improvement. This dual choice ensures that developers can obtain necessary resources and incentives on the platform, thus thriving.

The Gas revenue sharing mechanism aims to achieve transparency and automation. Net gas revenue is allocated in a programmatic manner to ensure fairness and consistency in the process. This automated allocation reduces management costs and ensures that developers receive their share of revenue in a timely manner. The transparency of the process builds trust within the developer community and encourages more developers to join and contribute to the Blast ecosystem.

The impact of Gas revenue sharing is not limited to individual developers, but also extends to the entire Blast ecosystem. By incentivizing developers to create and maintain high-quality dApps, Blast ensures a continuous influx of innovative applications. This in turn attracts more users to the platform, forming a positive feedback loop of growth and participation. The revenue sharing model closely links the interests of developers and the platform, promoting a collaborative and mutually beneficial environment.

Overall, the Gas revenue sharing in Blast represents a forward-looking platform economics approach. By allocating revenue back to developers, Blast promotes innovation and growth while ensuring fair sharing of benefits in the ecosystem. This feature enhances the platform's appeal to developers and users, contributing to the long-term success and sustainable development of the Blast ecosystem.

Focus

• Auto Rebasing: ETH and USDB balances automatically adjust to reflect accumulated earnings over time, providing a seamless experience for users and developers.
• L1 Staking: Directly leveraging Ethereum's staking capability to provide yields for users, initially achieved through Lido, and automatically transferring yields to users through rebasing ETH.
• T-Bill Yield: Generate stablecoin yield through MakerDAO's on-chain government bond protocol, continuously accumulate USDB yield, and exchange it for DAI.
• Gas Revenue Sharing: Programmatically distribute net gas revenue to dApp developers, incentivizing the creation and maintenance of high-quality dApps.
• User and developer benefits: These features are designed to maximize returns, simplify revenue management, and enhance the overall user and developer experience on the platform.