Yeeting ETH into the void is nothing new for Ethereans.
By the time the Beacon Chain officially launched on Dec. 1, 2020, the staking contract — referred to as “ETH 2.0” back then — had already seen around 880,000 ETH in deposits.
So perhaps it’s no surprise that multisig-with-a-plan project Blast now sports $650 million in staked ether and stablecoins under its control.
Blast’s explicit promise is that deposited tokens will earn an on-chain yield, plus rewards of unknown value. Ether staking yield comes via Lido’s stETH tokens, while stablecoins are converted to dai deposited in Maker, or savings dai (sDAI).
On Thursday it emerged that the Blast deposit interface set its…
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