The native BLUR token has additionally seen constructive worth actions.
2024 is only some days away and we have already got many extremely anticipated blockchain tasks within the works. Though it’s the holidays, crypto lovers are nonetheless participating with these tasks and plenty 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 reside till February 2024 however has already reported a powerful $1.1 billion in deposits.
Blast Makes a Splash
In line with publicly out there knowledge, customers have deposited $1 billion value of wrapped Ether and $103 million value of DAI up to now. It is a very encouraging signal because it reveals that the group is invested within the venture and is placing their cash the place their mouth is.
And with all of the funding they’re placing in Blast, customers have loads of rewards to look ahead to. Extra particularly, there’s a 5% yield on staked property that might be launched in Might 2024 through airdrop after the platform has been reside for a number of months. On high of that, Blast gives a referral program that rewards those that refer others to it. That is much like what Blur, the creators of Blast, did after 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 top of analysis at Paradigm, which is certainly one of Blur’s largest backers. He mentioned in a tweet that whereas he’s enthusiastic about sure features 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 permit withdrawals for 3 months, since we expect it units a foul precedent for different tasks. We additionally suppose 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 constructive worth actions because of this. All this success might very effectively immediate extra high-profile tasks to undertake the identical advertising and marketing mannequin, which can solely add to the controversy surrounding it.
However with only some months away from its launch date, will probably be fascinating to see how Blast is acquired as soon as it’s totally reside.
