💥 Blast Quiets Down Post Airdrop

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The key question for every hyped-up crypto project with a points system and/or airdrop is, will it retain users after the token launches? In the case of Blast, the fourth-largest Ethereum Layer 2, activity has slowed down across all on-chain and price metrics. Of course, that’s far from irreversible, as other ecosystems have already shown. This is happening in a backdrop of volatile crypto markets, with major assets down on Monday.

Plus, we took a deep dive on ex SushiSwap CTO Joseph Delong’s new project, SocialFi dapp Untitled. USDT is launching natively on Aptos, DeFi is shunning WBTC now that its custodian is tied to Justin Sun, and EigenLayer responded to accusations it got special treatment in its ecosystems’ airdrops.

✍️ In today’s newsletter:

• Blast struggling post airdrop
• Markets down again
• USDT on Aptos
• EigenLayer airdrops drama
• DeFi shuns WBTC
• Former Sushi CTO’s SocialFi Dapp

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