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Blast, a layer-2 network built on Ethereum, has quickly become the third-largest holder of staked Ethereum since its launch. Within just three days, Blast has accumulated over 140,000 staked Ethereum, valued at around $286 million. This represents approximately 1.5% of the total staked Ether volume. The platform utilizes the liquid staking protocol Lido. Additionally, Blast’s multi-sig wallet currently holds assets worth over $335 million, which includes staked Ether from Lido and MakerDAO’s stablecoin DAI. However, Blast has faced controversy due to its pyramid-like system, which rewards early users based on the number of users they refer. The protocol has received criticism from the crypto community for its lack of withdrawal options until its scheduled launch in February next year. Despite concerns about its structure and multi-sig wallet, experts believe the risk of fund theft is low.