A First Look at the Blast Ecosystem: Which Projects Are Worth Attention?
Introduction
Last week, as the number of Blast users surpassed 100,000 and the TVL broke through $1.3 billion, the Blast testnet officially went live, along with the start of the BIG BANG competition. Blast announced that the winning DApps from the competition would be promoted to Blast users after the mainnet launch at the end of February. Through this, winning teams can use Blast airdrops to incentivize the development of their DApp on the Blast mainnet, securing core advantages such as liquidity induction from the outset.
The distribution method of the Blast airdrop demonstrates equal importance to both users and developers. In the Blast airdrop, 50% will be allocated to 110,000 users, and 50% will be allocated to Blast developers (including BIG BANG winners and mainnet DApps). According to Blast documentation, a portion of the developer airdrop is reserved for competition winners and another for mainnet DApps. The exact distribution ratio has not been disclosed, but the vast majority of the airdrop will be reserved for mainnet DApps (i.e., over 90%). However, Blast also emphasized that users participating in the testnet would not receive anything.
The sectors favored by Blast officials can be inferred from the themes of the Blast BIG BANG competition, namely, perpetual contract DEXs, spot DEXs, lending protocols, NFT/games, SocialFi, GambleFi, infrastructure, and especially projects that utilize Blast’s native earnings or Gas income sharing in unique ways.
Considering Blast’s roadmap, i.e., the BIG BANG competition registration has started, the unveiling of winning DApps on February 21, the mainnet launch at the end of February, and the exchange of airdrop points in May, it’s essential to explore and position ourselves within the Blast ecosystem in advance. The author has also marked some projects followed by Blast and Pacman official Twitter accounts.
DEX/Liquidity
Thruster (Followed by Pacman Twitter):
A native Blast DEX. For developers, Thruster offers a fair launch mechanism and liquidity tools. For users, it supports earnings tools as well as social and analytical features, making trading and liquidity provision easier. Thruster has confirmed that many native Blast projects hope to use Thruster’s infrastructure and community to guide their tokens.
ambient:
Previously known as CrocSwap, ambient is a decentralized exchange protocol that participated in the Blast BIG BANG competition. Ambient completed a $6.5 million seed round in July 2023, led by BlockTower Capital, with participation from Jane Street, Circle, Tensai Capital, Naval, Yunt Capital, Susa Ventures, Quantstamp, Hypotenuse Labs, and individual investors including Julian, co-founder of Ribbon Finance.
Ambient operates the entire DEX within a single smart contract, with individual AMM pools as lightweight data structures rather than separate smart contracts.
MonoSwap (Followed by Blast and Pacman Twitter):
MonoSwap aims to build a customized liquidity infrastructure fully supporting ecosystem partners, as well as leveraging Blast’s native earnings, Gas income sharing, and developer airdrop economics. MonoSwap has stated that 100% of its Blast developer airdrop will be distributed to the community through various initiatives. The amount of airdrop depends on the user’s Mono XP, which measures participation in the testnet.
Ring Protocol (Followed by Blast and Pacman Twitter):
Has launched the DEX “Ring Exchange,” offering exchange, Launchpad, Ring Earn (liquidity provision) services. Ring Protocol has gone live on the testnet.
BLASTER:
Provides exchange, Launchpad, and earning services.
https://twitter.com/BlasterSwap
Ignite Finance:
Will introduce a customized DEX.
Derivatives
SynFutures Protocol:
A decentralized derivatives protocol, SynFutures V3 has been deployed to the Blast testnet. SynFutures completed a $22 million Series B funding round in October 2023, led by Pantera Capital, with participation from Susquehanna International Group (SIG) and HashKey Capital.
Particle (Followed by Blast officials and Pacman Twitter):
A decentralized leverage trading protocol allowing traders to borrow directly from the liquidity pools of liquidity-concentrated automated market makers (AMM) (starting with Uniswap v3). Particle has launched the Beta testnet [Stage-1]. Particle stated that 100% of its Blast developer airdrop would go to its community. In January 2024, Particle completed a seed funding round led by Polychain Capital, with participation from Nascent, Inflection, Neon DAO, Naveen Jain, Arthur Hayes, DCF God, Sam Williams, Kalos, Richard Ma, Palmer, vxCozy, and others.
Interested readers can find more about Particle at
https://medium.com/@ParticleLabs/introducing-particle-leverage-amm-fcf0b3db8c55.
Roguex:
A permissionless spot and perpetual contract trading protocol. RogueX extends the concept of concentrated liquidity pioneered by Uniswap-v3, unlocking the value of idle funds in Uniswap-v3-like pools and utilizing these assets by introducing perpetual trading as an additional feature. ROX is the protocol’s ERC-20 utility token, and veROX is an ERC-721 governance token obtained by locking ROX tokens, granting voting rights. Roguex has launched its testnet on Blast.
Easy X:
A native Blast leverage platform, set to launch its testnet soon. Easy X offers up to 100x leverage, supporting gasless transactions.
Bloom:
A native Blast perpetual DEX built for asset rebasing, supporting gasless transactions, social login, enhanced yield, and up to 50x leverage.
[https://twitter.com/BloomOnBlast
](https://twitter.com/BloomOnBlast)
SphereX (Followed by Blast official Twitter):
A multi-chain perpetual contract DEX, set to debut on Blast. SphereX uses an order book, with fees ranging between 0.02%-0.05%.
Blast Futures (Followed by Blast official Twitter):
An order book perpetual trading protocol.
https://twitter.com/BlastFutures
Cyber Finance:
A decentralized derivatives protocol founded by KOLs such as Money Bunny, with developers from Dell and Huawei. Cyber Finance has already launched a referral points leaderboard.
https://twitter.com/CyberFinance__
Launchpad
ZAP (Followed by Blast and Pacman Twitter):
A set of token launch tools built on Blast. Incubated by Rarestone Ventures, ZAP features native gamification and SocialFi elements, a “pay later” option supported by Blast’s native earnings, and plans for permissionless, code-free token issuance. Future plans include exploring LBP.
BLASTOFF (Followed by Blast official Twitter):
A native Launchpad and yield aggregator. In BLASTOFF’s yield IDO product YIDO, native or YZone staking of ETH/stablecoins is allowed, with part of the yield allocated to YIDOs launched on BlastOff. Its yield aggregator product YZone offers vaults with different risk profiles.
YIDO whitelist and participation depend on the user’s Blast Force, which can be increased by staking BLASTO and depositing into YZone. Additionally, 50% of the fees from YIDO and YZone will be used for BLASTO buyback and burn.
SocialFi
EarlyFans (Followed by Pacman Twitter):
A SocialFi project on Blast built by atticc.xyz, enabling creators to profit directly from their content.
https://twitter.com/earlyfans_xyz
UpTo3.xyz:
A platform that turns events into NFTs and offers consensus verification.
Lending
Natrium:
A permissionless money market on Blast.
https://twitter.com/NatriumProtocol
Blastway:
A decentralized ecosystem incubator and money market protocol built on Blast, set to launch its testnet in the coming weeks.
https://twitter.com/Blastwayio
NFT/Gaming
BAC Games (Followed by Blast official Twitter):
The first idle racing club game on Blast, featuring “Group to earn.” The game is in beta testing and will launch simultaneously with the Blast public chain.
Blast Penguins:
Will airdrop PENG to Blast Penguins holders. If winning in the Big Bang competition, Blast Penguins will distribute 50% of its BLAST airdrop to holders and ecosystem users. Blast Penguins is currently distributing OG roles.
https://twitter.com/BlastPenguins
Blastopians:
An NFT series launched by the Creed Alpha community, already granting whitelist privileges to CyberKongz, Moonbirds, and Memeland communities. Additionally, the Blastopian smart contract allows Blastopian NFTs to be deposited into the contract to earn points.
https://twitter.com/blastopians
Infrastructure
Tornado Blast (Followed by Blast and Pacman Twitter):
Supports trading and “sniping” tokens on Blast, with opportunities to earn BLAST and Tornado rewards. Tornado Blast states that users can receive 100% of the BLAST developer airdrop and gas fee refunds, as well as earn additional rewards and fees from Tornado Blast.
Boom Bots:
On-chain cryptocurrency trading and investment bots. According to Boom Bots’ tokenomics, its governance token has a total supply of 21 million, with 1 million allocated to early adopters and 2 million to be airdropped during the token launch in February.
Pyth Network:
A oracle project that has deployed Pyth Entropy and Price Feeds on Blast, where Pyth Entropy is a decentralized source of randomness aimed at powering the Blast Layer 2 economy and supporting its NFT ecosystem. The integration of Pyth Entropy with the Blast ecosystem will enhance its support for numerous Web3 verticals, such as NFT schemes, prediction markets, and SocialFi. Pyth Price Feeds serve as a price source for smart contract developers, covering over 400 real-time data sources across five major asset classes.
RedStone Oracles:
Supports the gas-optimized RedStone Core model, providing data sources to support the Blast builder community.
The Graph:
The decentralized indexing protocol The Graph now supports Blast subgraphs, allowing developers to quickly access organized data from the Blast testnet.
QuickNode:
A blockchain development platform that has supported the Blast testnet.
Galxe:
The Web3 task platform Galxe announced integration with Blast.
Others
Blast Name Service (BlastNS):
A cross-chain domain name service powered by the domain protocol Star Protocol.
Zest:
A collateralized stablecoin protocol that separates yield from price volatility. Zest splits blast-ETH into zUSD (a yield-bearing stablecoin) and a leveraged ETH token. Users can provide blast-ETH to mint zUSD and the leveraged ETH token.
https://twitter.com/Zest_Blast
Layer Rating (Followed by Pacman Twitter):
Supports earning by rating DApps. Layer Rating plans to launch its protocol on the Blast testnet around February 5.
https://twitter.com/layer_rating
As always, this article does not represent any investment advice, DYOR.
Disclaimer：
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