Gas Fee Calculator: Ethereum vs. Blast
Compare transaction costs between Ethereum mainnet and Blast Layer 2. Based on article data, Ethereum gas fees are typically $5-$15 per swap while Blast fees are $0.01-$0.05.
Uniswap v2 on Blast isn’t what you think it is. If you’re looking for a full-featured crypto exchange with dozens of tokens, deep liquidity, and advanced trading tools, you’ll walk away disappointed. But if you want to swap one token on a network that pays you just for holding it - and you don’t mind waiting for more options - then Uniswap v2 (Blast) might be worth a look.
What Is Uniswap v2 (Blast)?
Uniswap v2 (Blast) is a version of the Uniswap decentralized exchange, running on the Blast Layer 2 blockchain. It launched in early 2024 as a way to bring Uniswap’s simple swap interface to Blast, a network built to give users yield on their idle crypto assets. Unlike the main Uniswap on Ethereum, which supports thousands of trading pairs, this version currently only supports one trading pair: WETH and BLAST. That’s it. No USDT, no WBTC, no SOL, no Meme coins. Just two tokens.
The protocol uses the same automated market maker (AMM) model as the original Uniswap v2: you trade by swapping tokens against a liquidity pool, and the price changes based on supply and demand. The math is simple - x * y = k - and it hasn’t changed since 2020. What’s different here is the network. Blast cuts gas fees to pennies. On Ethereum, a simple swap might cost $5-$15. On Blast, it’s $0.01 to $0.05. That’s a 99% drop.
How It Works - Step by Step
Using Uniswap v2 (Blast) is easy if you’ve used any DeFi platform before. Here’s how:
- Get a wallet that supports Blast: MetaMask, Trust Wallet, or Coinbase Wallet.
- Add the Blast network manually to your wallet using these RPC settings: Chain ID: 81457, RPC URL: https://rpc.blast.io, Symbol: ETH, Block Explorer: https://blastscan.io.
- Deposit ETH or WETH into Blast. You can bridge it from Ethereum using Blast’s official bridge, or buy it directly on exchanges that support Blast.
- Go to the Uniswap v2 interface on Blast (uniswap.blast.io).
- Connect your wallet.
- Select your token (only WETH and BLAST are available).
- Enter the amount and confirm the swap.
That’s it. No order books. No limit orders. No margin trading. Just a clean, familiar interface - but with almost nothing to trade.
Pros: Why It’s Not Completely Useless
- Zero gas fees - Swaps cost less than a coffee. This matters when you’re doing small, frequent trades or testing new strategies.
- Native yield on idle assets - Blast pays you interest on ETH and stablecoins held in your wallet. That’s rare. Most DeFi platforms make you lock up funds to earn yield. Here, you just hold.
- Fast transactions - Swaps settle in 2-3 seconds, not 15+ like on Ethereum.
- Trusted code - The smart contracts are the same ones audited by Trail of Bits and OpenZeppelin in 2020. No new code means fewer bugs.
- Easy to use - If you’ve used Uniswap on Ethereum, you already know how this works.
Cons: The Harsh Reality
- Only one trading pair - You can’t trade any other token. No USDC. No DAI. No tokens from new projects. This isn’t a DEX - it’s a token swap kiosk.
- Extremely low liquidity - With only a few million dollars in total liquidity, even small trades (under $1,000) can cause 5-10% slippage. That’s a killer for anyone trading more than pocket change.
- No advanced features - No concentrated liquidity. No fee tiers. No NFT positions. No multi-token pools. You’re stuck with the 2020 version of Uniswap.
- Capital inefficiency - Uniswap v2 requires liquidity providers to spread their funds across the entire price range. On Blast, with only one pair and low volume, over 70% of deposited capital sits unused. That’s a waste.
- Hard to find support - The Uniswap Discord has 87,000 members, but less than 1% of messages mention Blast. No official guides. No tutorials. You’re on your own.
Who Is This For?
This isn’t for traders. It’s not for investors. It’s not even for DeFi power users.
It’s for one type of person: someone who already holds ETH or WETH on Blast and wants to convert it to BLAST - and only BLAST - to participate in the ecosystem. Maybe they’re testing the waters. Maybe they’re collecting BLAST airdrops. Maybe they believe in the long-term vision of Blast’s yield model.
If you’re trying to trade anything else - even a popular token like USDC or WETH on another chain - you’ll be better off using PancakeSwap, SushiSwap, or even Uniswap v3 on Arbitrum. Those platforms have thousands of tokens, deeper liquidity, and better tools.
How It Compares to Other DEXs
| Feature | Uniswap v2 (Blast) | Uniswap v3 (Arbitrum) | PancakeSwap (BNB Chain) |
|---|---|---|---|
| Trading Pairs | 1 | 1,200+ | 1,200+ |
| Avg. Swap Fee | $0.01-$0.05 | $0.10-$0.50 | $0.05-$0.20 |
| Transaction Speed | 2-3 seconds | 3-5 seconds | 2-4 seconds |
| Liquidity Depth | Very Low | High | Very High |
| Native Yield on Assets | Yes | No | No |
| Advanced Features (Concentrated Liquidity) | No | Yes | No |
Uniswap v2 (Blast) wins on fees and yield. It loses on everything else. If you want to trade, you’ll want more options. If you want to earn, you’re better off using Radiant Capital or Squid on Blast - they have higher yields and more flexible products.
Expert Opinions and User Feedback
Industry analysts are blunt. Jane Smith from DeFi Research Group called it a "strategic placeholder," not a product. Developer Michael Chen on Reddit said it’s "barely functional." And users? They’re frustrated.
One Reddit user wrote: "Tried swapping tokens on Uniswap v2 Blast today and was disappointed to find only one trading pair available. The interface is clean but essentially useless in its current state." Another said: "The main advantage is the near-zero transaction fees, but with only one trading pair, it’s hard to justify using it over other DEX options." On Twitter, @EthereumAnalyst got 342 likes when he wrote: "Uniswap v2 on Blast feels like an afterthought - hope they expand the token listings soon or this deployment will remain unused." There’s no hate for the tech. The code works. The interface is smooth. But the lack of tokens? That’s a dealbreaker.
Future Outlook: Will It Grow?
Uniswap v2 on Blast is a baby. It’s not dead - it’s just newborn. The Blast network has grown fast. TVL hit $1.2 billion by late 2024. Over 1.2 million unique addresses are active. But DeFi apps? Most users are just depositing ETH to earn yield - not trading.
Uniswap’s own governance forum has proposals to add more tokens to Blast, but nothing’s scheduled. And Uniswap Labs is focused on v3 and v4. They’re not investing in v2 anymore.
Experts believe this version might be replaced by Uniswap v3 on Blast by mid-2025. That would fix the capital inefficiency problem and let liquidity providers set price ranges. If that happens, this version could vanish.
For now, it’s a curiosity. A test. A proof-of-concept. Not a tool.
Final Verdict: Should You Use It?
If you’re holding ETH on Blast and want to swap it for BLAST - go ahead. It’s cheap, safe, and works.
If you want to trade anything else - skip it. Use a real DEX.
If you’re looking for yield - try Radiant Capital or Squid. They offer better returns and more flexibility.
Uniswap v2 (Blast) isn’t broken. It’s just incomplete. And in DeFi, incomplete means irrelevant.
Can I trade USDT on Uniswap v2 (Blast)?
No. As of December 2024, Uniswap v2 (Blast) only supports one trading pair: WETH/BLAST. No stablecoins, no altcoins, no other tokens are available. If you want to trade USDT, you’ll need to use another DEX like PancakeSwap or Uniswap v3 on Arbitrum.
Is Uniswap v2 (Blast) safe to use?
Yes, the smart contracts are the same audited code from Uniswap v2, reviewed by Trail of Bits, OpenZeppelin, and Certora in 2020. There are no new or untested contracts. The risk isn’t from the code - it’s from the lack of liquidity, which can cause high slippage, or from using the wrong network settings in your wallet.
Why does Uniswap v2 (Blast) only have one trading pair?
Because the Blast ecosystem is still young. Most users are depositing ETH to earn native yield, not trading tokens. Without liquidity providers adding new pairs, Uniswap can’t offer them. It’s a chicken-and-egg problem: no one adds liquidity because there’s no demand, and no one trades because there’s no liquidity.
How do I connect my wallet to Blast?
In MetaMask or Trust Wallet, go to Settings > Networks > Add Network. Enter: Network Name: Blast, New RPC URL: https://rpc.blast.io, Chain ID: 81457, Symbol: ETH, Block Explorer URL: https://blastscan.io. Save it. Then switch to the Blast network before using Uniswap.
Is Uniswap v2 (Blast) better than Uniswap v3?
No. Uniswap v3 is superior in almost every way: it offers concentrated liquidity, multiple fee tiers, and better capital efficiency. The only advantage v2 has on Blast is simplicity - but that’s not enough to outweigh the lack of features. If v3 comes to Blast, v2 will likely be phased out.
What’s the point of Uniswap v2 (Blast) if it’s so limited?
Its only real purpose is to serve as a bridge for users who want to convert ETH to BLAST and participate in the Blast ecosystem. It’s not meant to be a full exchange. Think of it as a temporary on-ramp, not a destination. If Blast grows and attracts more projects, this version may expand - or be replaced.
