Glossary
Blast
An Ethereum L2 that auto-rebases user ETH and stablecoin balances via native staking yield and T-bill yield — popularized the "native yield" L2 narrative.
Blast, launched in 2024, ships native yield by default: ETH on Blast accrues Ethereum staking yield through a Lido integration, and the chain's USDB stablecoin earns short-term Treasury yield via MakerDAO. User balances rebase automatically.
The launch generated controversy for its incentive farming mechanics (deposit-and-wait for token allocation) and for going live with a multisig-controlled "L2" before the actual rollup infrastructure was operational. Subsequent iterations have addressed the worst of the security concerns.