HYVE x Blast Network: A different type of integration

HYVE x Blast Network: A different type of integration

What's up HYVE Community? Following a successful listing on the ProBit Global Exchange, we are delivering yet another improvement of our highly customizable blockchain infrastructure! Today, we are excited to have a new type of network, that breaks away from your typical established network - Blast!

We are especially excited since this is an upcoming project, a truly innovative L2 solution on Ethereum. Moreover, what is more - HYVE becomes the first Web3 job market within the Blast ecosystem, as we aim to reach new communities of excited web3 adopters.

Blast's team consists of former members and graduates from FAANG, Yale, MIT, Nanyang Technological University, Seoul National University. All of them worked on some of the largest protocols in Defi and Web3! That's how you know you're in good hands!

How is Blast unique?

The answer is simple really, but before that - let's meet Blast first! Blast Network is an innovative Layer 2 (L2) solution on the Ethereum blockchain, designed to offer native yield for ETH and stablecoins, a feature not available on other L2s. It uniquely incorporates yield directly into its ecosystem, providing a default interest rate of 4% for ETH and 5% for stablecoins by leveraging ETH staking and Real World Assets (RWA) protocols.

This design is aimed at enhancing the on-chain economy by providing higher yields without altering the user experience expected from blockchain interactions.

There are three main pillars around which the Blast ecosystem is structured:

  • Native ETH Rebasement - Blast introduces a revolutionary system where ETH is inherently ''re-baseable'' on the L2, aligning closely with how users transact (in ETH) and how Dapps are developed, making the ecosystem more intuitive and ETH-centric.
  • Innovative L1 Staking Rewards - leveraging the Ethereum Shanghai upgrade, Blast enables users to directly benefit from ETH yield generated through L1 staking (e.g., via Lido), with rewards seamlessly integrated and distributed through L2 ETH rebasing!
  • Stablecoin Yield Optimization - by bridging stablecoins to Blast, users receive $USDB, an auto-rebasing stablecoin with yields derived from MakerDAO's T-Bill protocol, ensuring a profitable and smooth transition when moving assets back to Ethereum.

Who supports Blast?

The Blast project has successfully secured $20 million in funding through contributions from a distinguished group of investors including Paradigm, Standard Crypto, eGirl Capital, Primitive Ventures, along with noted individuals in the crypto space such as Andrew Kang, Hasu, Foobar, Blurr, Will Price, Hsaka, Santiago Santos, and many others!

HYVE X Blast

Deploying HYVE on the Blast Network has been pivotal, contributing significantly to our ascension as a cross-chain platform, currently supporting 9 different blockchains. Why do we think that? This integration not only leverages Blast Network's innovative Layer 2 solution but also aligns with HYVE's mission to provide a seamless, efficient, and economically advantageous environment for freelancers and clients alike, providing increased flexibility due to its strong and flexible infrastructure.

We will first integrate the Blast testnet, which will be followed by the mainnet integration upon release.

The collaboration with Blast Network underscores HYVE's commitment to utilizing cutting-edge blockchain technologies to enhance user experience, security, and financial benefits, solidifying its position at the forefront of the Web3 freelancing ecosystem!

With any new blockchain integration, it's always a win-win situation, since new users and excited lurkers join the best web3 jobs and tasks marketplace! As HYVE established itself as the go-to Web3 collaborative ecosystem, its integration with the Blast Network has introduced a new avenue for listings, especially as we already had the first digital item listed on this network.

Expand your productivity with custom-made templates and planners that can help you get ahead.

Through this collaboration, HYVE expands its ecosystem, providing users with a broader range of opportunities for engagement and economic activity within the freelance and job marketplace.

We'll announce more details of our collaboration soon on X, so make sure to stay tuned for info and new developments!