The explosion broke the TVL mark of 1 billion dollars in 40 days

At the time of publication, the total value locked (TVL) of the Layer-2 project explosion reached $1.14 billion. However, the number of new deposits is gradually decreasing.

The Blast Airdrop is one of the most anticipated airdrops of 2024. Many users are putting funds into Blast to qualify for the Airdrop.

Pacman Blast celebrates TVL.

Pacman, the founder of the explosive and volatile token (NFT) marketplace, wrote on Twitter:

“I am incredibly excited to close the year on this milestone.

The power of Web3 is a win for protocols and a win for the entire community.

However, I think more can be done to ensure that value creation is for the end users who are at the heart of the chain economy.

I'm excited for next year! “

The screenshot below shows Blast TVL at around $1.14 billion. The explosion set aside $1 billion to sell on Lido. About $1 million has been invested in Maker to get production on Stablecoins. In the end, more than $3 million was sitting idle on the blast bag.

Read More: 11 Best DeFi Platforms to Earn Staked ETH (stETH) at Lido

Not to mention, the users' funds will remain locked on the Blast protocol until the mainnet launch in February 2024. Since the project's launch in November 2024, it has been criticized for its strategy of not allowing an exit until the main network goes live.

One of Blast's investors, researcher Dan Robinson – Paradigm, criticized the project's marketing and communications approach.

However, more than 82,000 wallets deposited their funds in the explosion. However, the screenshot below shows that the new deposit graph has declined significantly. On December 20, the project introduced 118 new deposits.

Read more: A Beginner's Guide to Layer-2 Scaling Solutions

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