The native BLUR token has additionally seen constructive worth actions.
2024 is just a few 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 won’t be totally stay till February 2024 however has already reported a powerful $1.1 billion in deposits.
Blast Makes a Splash
In line with publicly obtainable information, customers have deposited $1 billion price of wrapped Ether and $103 million price of DAI to this point. This can be a very encouraging signal because it exhibits that the group 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 loads of rewards to sit 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 stay for a number of months. On prime of that, Blast presents a referral program that rewards those that refer others to it. That is just 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 folks have in contrast it to a multi-level advertising 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 identical 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 considered one of Blur’s greatest backers. He stated in a tweet that whereas he’s enthusiastic about sure facets of Blast, he didn’t agree with the advertising ways used.
On Twitter/X, he said:
“We don’t agree with the decision to launch the bridge before the L2, or not to allow withdrawals for three months, since we think it sets a bad precedent for other projects. We also think much of the marketing cheapens the work of a serious team.”
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 mannequin, which is able to solely add to the controversy surrounding it.
However with just a few months away from its launch date, will probably be attention-grabbing to see how Blast is acquired as soon as it’s totally stay.
