The State of Layer2 Solutions in Today’s Crypto Market

X-ray

hero member

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Now seeing blast after launch it was underwhelming honestly, i'm also one of the people that participated into its series of campaigns such as earning blast gold and so on, surpisingly only earned peanut for task needed a whole year.

IMO, most of L2 are now valued so low but whether its undervalued or not is still a question, $ZK got money raised $458 through series of founding rounds only to produce a blockchain valued at $600m, on the other hand blast TVL reaching multi billions only for the governance token to be valued at around $377 million and that with many of the token owned by the top earner still in vesting period.

L2 narrative is done and people just don't dump their money in these L2 tokens anymore, I expect disappointing result from scroll and the likes as well for the future airdrops.

mk4

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I'm generally bearish with L2s. We literally get like more than a dozen every year with different technological approaches — how would we gauge which ones will actually end up being successful?

Not to mention that current dominant L2s like Arbitrum and Optimism have totally crappy tokenomics, with only approximately 10% of the total supply circulating.

beerlover

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Quote from: Psalms23 on June 26, 2024, 06:46:38 AM

yeah, the L2 scene is buzzing. It's like everyone's racing to fix Ethereum's issues. Tons of projects cropping up, making it super competitive. Blast is like the new kid on the block. Pulling in a billion in TVL so quick is no joke, especially with the market down. Those airdrops are a smart move to grab attention.

But still for me, launching now is a double-edged sword. If Blast's tech is rock solid, it might shine through the gloom. But people are super cautious with their cash right now, so it’s a tough crowd to impress. With heavyweights like Optimism and Arbitrum already in the game, Blast has to bring something seriously game-changing.

I think the problem is that there is a convincing period in those projects that I think they skip. I get that ETH may have some issues, and I get that L2 projects could end up offering a solution that could benefit people, but at the same time I believe that we are going to end up with something that will have different results, we have to just consider that L2 projects are lacking "pick me" marketing.

Meaning that, even if you offer something amazing, even if your solution is the best one, if people do not hear about you or hype you or just wish to get more, then how would that project go up in price? Or even have a proper usage? They won't and that is why I think it's quite important to realize that we need marketing for them.

Psalms23

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yeah, the L2 scene is buzzing. It's like everyone's racing to fix Ethereum's issues. Tons of projects cropping up, making it super competitive. Blast is like the new kid on the block. Pulling in a billion in TVL so quick is no joke, especially with the market down. Those airdrops are a smart move to grab attention.

But still for me, launching now is a double-edged sword. If Blast's tech is rock solid, it might shine through the gloom. But people are super cautious with their cash right now, so it’s a tough crowd to impress. With heavyweights like Optimism and Arbitrum already in the game, Blast has to bring something seriously game-changing.

makishart

legendary

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I've started partaking in the blast airdrop, which is very good. The network is quick, and transaction costs are low. But the interesting thing about Blast is that even if you did nothing on the blockchain, as long as you held ethereum or USDB, you could still get a yield.

It translates to consistent passive revenue for your money on the blast network. The current yields for ETH and USDB stable tokens are around 3% and 9%, respectively.

This is a feature that other chains have not offered to their Ethereum users. Let's see what happens during the launch; the blockchain is getting heated, and I've tried using various dapps in Blast so far, and everything looks okay.

aima55

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Hey, have you seen what's going on in the crypto market lately? It's been pretty rough. Prices are down across the board, and that whole thing with Germany selling off Bitcoin didn't help. It's got everyone on edge.

You know, it's funny timing because the L2 scene is heating up like crazy right now. Everyone's trying to solve Ethereum's problems, and new projects are popping up left and right. It's getting really competitive out there.

Now blast is coming lmao, It's a new Ethereum L2 that's been making some noise. They managed to pull in a billion dollars in TVL super fast, which is pretty impressive in this market. Plus, they've been doing a bunch of airdrops to get people interested.

The thing is, launching in a down market is tricky. On one hand, if the tech is solid, it could stand out. But on the other hand, people are being extra careful with their money right now. There are so many L2s out there now - Optimism, Arbitrum, you name it. Blast will need to bring something special to the table.

I'm curious to see how Blast does when it launches. The tech sounds good on paper, but you never really know until it's out in the wild. What's your take on it? Do you think it has a shot in this market?

Topic: The State of Layer2 Solutions in Today’s Crypto Market (Read 86 times)