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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. Despite the fact that 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 absolutely stay till February 2024 however has already reported a powerful $1.1 billion in deposits.
Blast Makes a Splash
In accordance with publicly obtainable knowledge, customers have deposited $1 billion price of wrapped Ether and $103 million price of DAI to date. It is a very encouraging signal because it reveals that the neighborhood 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 stay up for. Extra particularly, there’s a 5% yield on staked belongings that shall be launched in Might 2024 through airdrop after the platform has been stay for a couple of months. On high of that, Blast affords 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 folks 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 identical tactic was utilized to Blast. Apparently 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 elements of Blast, he didn’t agree with the advertising and marketing techniques 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 foul precedent for different tasks. We additionally suppose a lot of the advertising and marketing cheapens the work of a severe crew.”
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 may 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, will probably be attention-grabbing to see how Blast is obtained as soon as it’s absolutely stay.
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