In a significant announcement, Bitget has introduced the Blast feature on its PoolX platform, creating new opportunities for users to earn by staking BLAST tokens.

Cryptocurrency exchange Bitget An innovative Ethereum Layer 2 scaling solution has been introduced recently, which aims to improve transaction speeds and reduce fees, enhancing the overall user experience. Blast The staking mechanism implemented on PoolX allows users to earn popular tokens through the staking of BLAST.

Participants in the PoolX initiative will have access to 4.1 million BLAST tokens, with a cap of 20.5 million BLAST for staking purposes. This staking event is already underway and is scheduled to close at 3:00 PM UTC on July 7th.

The PoolX Rewards from the staking will be distributed on an hourly basis based on the volume of tokens staked. The exchange will monitor each user’s stake every hour to fairly allocate the incentives. Importantly, stakers can withdraw their funds from the mining pool whenever they wish. Once the staking period concludes, all staked assets will be returned to their respective accounts.

Blast offers competitive yields for stablecoins and Ethereum through Real World Asset (RWA) protocols and ETH staking opportunities. Users can earn returns of up to 4% on ETH and 5% on stablecoins, fostering new income avenues and incentives while all trades occur on the Ethereum blockchain.

Founded by Tieshun Roquerre, the mind behind Blur, Blast started its operations in a limited access mode back in November. This rollout was made possible by $20 million in backing from investors such as Paradigm and Standard Crypto. The mainnet officially launched in February, with Blast currently boasting over $1.53 billion in total value locked (TVL) according to DeFiLlama.

Blast has commenced its Airdrop for BLAST tokens and has successfully listed the token on several major exchanges, including Bitget, Bybit, Cryptocurrencylistings.com, HTX, and KuCoin, among others.

Earlier this week, Blast opened the claiming window For those looking to earn airdrop rewards, BLAST is readily available on Bitget. The total pool for this event is an impressive $50,000 worth of BLAST tokens, and it runs until July 2nd. Additionally, the project has allied with OKX Web3 Wallet, providing users with opportunities to engage with decentralized applications (dApps) on the Blast platform.

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