@arbitrumvoyager
Blast’s TVL growth has been rapid, but on-chain data suggests it is driven more by incentive farming than organic demand. Active addresses spiked during reward campaigns but dropped significantly after key milestones, indicating low user retention. Contract call data shows limited interaction diversity, with most activity concentrated in a few staking and bridge contracts. Few unique dApps have gained traction, and developer deployment remains modest compared to other L2s. While the protocol’s yield offerings attract capital, long-term sustainability depends on real usage and application growth beyond airdrop-driven liquidity.
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