Layer 2

Blast is winding down a little over two years after launch, saying the cost of maintaining the Ethereum layer-2 now exceeds the revenue it generates. The closure follows a 98% drop in assets from a June 2024 peak and underscores growing pressure on smaller blockchain networks.

A Bank of Italy mystery-shopping exercise found that USDC remittances were not systematically cheaper than traditional money transfer options across international corridors. The findings point to exchange fees, foreign exchange spreads and local banking charges as the main costs, rather than blockchain transaction fees.

Robinhood has launched the public mainnet for Robinhood Chain, its Layer 2 blockchain, opening tokenized stock trading to users in more than 120 countries. The move also introduces Robinhood Earn, a decentralized lending product offering an estimated 7% yield on USDG.