The native BLUR token has additionally seen optimistic value actions.
2024 is just a few days away and we have already got many extremely anticipated blockchain tasks within the works. Although it’s the holidays, crypto lovers are nonetheless participating with these tasks and lots of of them appear very promising. Take Blast, a layer-2 blockchain that’s being launched by the creators of Blur. The blockchain is not going to be totally dwell till February 2024 however has already reported a powerful $1.1 billion in deposits.
Blast Makes a Splash
Based on publicly out there knowledge, customers have deposited $1 billion value of wrapped Ether and $103 million value of DAI to this point. It is a very encouraging signal because it reveals that the neighborhood is invested within the undertaking and is placing their cash the place their mouth is.
And with all of the funding they’re placing in Blast, customers have a number of rewards to stay up for. Extra particularly, there’s a 5% yield on staked belongings that will likely be launched in Could 2024 by way of airdrop after the platform has been dwell for just a few months. On prime of that, Blast presents a referral program that rewards those that refer others to it. That is much like what Blur, the creators of Blast, did once they launched an NFT platform.
Whereas this has clearly been efficient in bringing in new customers, it has not been with out controversy. Some individuals have in contrast it to a multi-level advertising and marketing scheme (MLM) and have expressed concern that solely the primary crop of customers will get any tangible advantages.
However clearly, Blur is unphased by this criticism since this similar tactic was utilized to Blast. Curiously sufficient, one of many vocal critics of this technique was Dan Robinson, the pinnacle of analysis at Paradigm, which is one in all Blur’s greatest backers. He stated in a tweet that whereas he’s enthusiastic about sure points of Blast, he didn’t agree with the advertising and marketing ways used.
On Twitter/X, he said:
“We don’t agree with the choice to launch the bridge earlier than the L2, or to not enable withdrawals for 3 months, since we expect it units a nasty precedent for different tasks. We additionally assume a lot of the advertising and marketing cheapens the work of a critical group.”
This pushback has additionally not stopped customers from depositing funds on the platform and referring others. The native BLUR token has additionally seen optimistic value actions because of this. All this success might very nicely immediate extra high-profile tasks to undertake the identical advertising and marketing mannequin, which can solely add to the controversy surrounding it.
However with just a few months away from its launch date, it will likely be fascinating to see how Blast is obtained as soon as it’s totally dwell.
