DOLA is now live on the Blast L2.
What is Blast?
Blast is an EVM-equivalent Layer 2 optimistic rollup that differs from other L2’s by offering more “native” yield to ETH and USDB stakers and more generous sharing of gas fees back to developers who deploy on Blast. Blast also promises faster transactions compared to other L2’s.
ETH on Blast automatically receives a rebasing yield via Lido (stETH), and USDB - which is wrapped USDC, USDT, or DAI - staked on Blast automatically receives DAI DSR (T-bill) yield. By baking yield directly into ETH and their own stablecoin, the theory goes, it will be easier to attract liquidity, the lifeblood of any chain, to Blast.
Why is Inverse’s expansion to Blast important?
Blast is now #4 in L2 TVL and growing at a rapid pace. The need for stablecoin liquidity there is apparent and the incentives for bringing DOLA to Blast are attractive for current DOLA users, but more importantly this continues expands DOLA’s expansion beyond Ethereum mainnet to lower-cost L2’s with their own distinctive communities and app ecosystems.
Beyond just DOLA, as Chainlink CCIP (bridging) support comes online for Blast, yield-bearing ERC-4626 vault collateral like sDOLA and sINV represent a great opportunity for users on Blast.
Who are our launch partners?
Our first DEX partner on Blast is Thruster:
DOLA liquidity providers on Thruster receive three types of incentives: Blast points, Blast Gold, and Thruster Credits starting with our first pool $DOLA-USDB.
We are also launching with Hyperlock, a Convex-like protocol for Thruster LP’s which compounds incentives earned on Thruster as well as its own incentives.
What Incentives Are There On Blast for the Inverse Community?
If you are new to Blast, the incentive machine there is firing with multiple barrels.
First, there are Blast points. Blast Points are distributed by the Blast Protocol to wallets that hold ETH/WETH or USDB. Points accrue over time at a linear rate based on your ETH and USDB balance, as outlined in official Blast documentation. When ETH/USD is transferred to a smart contract that smart contract will also earn points proportional to the ETH/USD balance over time.
Second, there’s another incentive called Blast Gold. Gold is a Blast incentive distributed to protocols and applications on the chain, to be further distributed to promote long-term growth. Blast Gold is effectively a bonus on top of Blast points that is obtainable, in effect, for DeFi users.
Third, individual protocols have their own rewards. Each of the partners mentioned in this post - Thruster and Hyperlock - all offer their own protocol rewards to users. This is made easier when protocols are stackable - like Hyperlock on top of Thruster - where you’re getting not only the “native” rewards of the protocols but also Blast points and Blast Gold for each of those protocols. Hyperlock also has an additional incentive token, TURTLE, via Turtle Club. As you might imagine, the yields on Blast are generous right now.
What Else Do I Need To Know?
At launch DOLA is being supported exclusively on the Blast native bridge, which facilitates fast bridging to Blast from Ethereum mainnet but has a 14-day waiting period when bridging from Blast back to Ethereum mainnet.
Do your own research. Nothing here is investment advice and these are new protocols with plenty of risk to accompany the attractive yields. Take your time and don't hesitate to ask questions in partner Discords or in the Inverse Discord.
How Do I Get Started?
Bridge DOLA: https://www.inverse.finance/blast
Use your bridged DOLA (or just swap if you are already on Blast) and then LP on Thruster: https://app.thruster.finance/analytics
Deposit Thruster LP tokens in Hyperlock https://app.hyperlock.finance/
Your questions and ideas are always welcome at the Inverse Discord here: https://discord.gg/At8M9ekVE2
Now LGTM.
