Is a Revolution Coming to the Crypto World: A New Layer-2 Network Has Been Announced, Coin Price Jumped!

NFT market Blur Tieshun Roquerre, founder of (also known as “Pacman”) a new layer-2 network where users can reduce transaction costs for digital collections is starting. “Hundreds of millions have been spent on gas trading of NFTs,” Roquerre said, referring to high network fees in a thread he shared on X on November 21.

Moreover, Roquerre says “almost every” decentralized application, or DApp, on the blockchain has a problem when users lock their funds in pools that do not generate returns for them.

“This means Blur users are losing money through depreciation. As I dug deeper, I realized that almost every dapp in the chain had this issue.”

In order to solve all these problems “at once”, the Blur founder decided to launch Blast, a new layer-2 network with native yield for DApps, where users can avoid asset depreciation and reduce transaction costs for non-fungible tokens. For the new venture, Roquerre raised $20 million in funding from Paradigm, Standard Crypto and others. As we reported, Blast “naturally” participates in Ethereum (ETH) staking to generate returns and automatically returns the staking return to the network’s users and DApps. In addition to ETH, Blast also generates returns for stablecoins with USDB, the network’s native auto-redemption stablecoin.

Beyond Blast, Roquerre announced that he has raised another $40 million to contribute to the Blur ecosystem. The proceeds are expected to be used to build DApps on top of Blast to “continue pushing” NFTs on Ethereum as well. Amid the news, Blur’s native token BLUR jumped 12% to $34, according to CoinGecko data.

source site-6