Blast, a recently launched platform, has achieved a milestone with a Total Value Locked (TVL) exceeding $400 million. With investors like Paradigm and Standard Crypto providing a $20 million investment at launch, the platform has gained traction with the crypto community. However, Blast has also faced scrutiny and Ponzi scheme claims.
Tieshun Roquerre, the founder of Blast, has strongly refuted these allegations, emphasizing that the platform’s 4 to 5% yield is sourced from reputable platforms like Lido and MakerDAO. He points out that these yields are a result of Ethereum’s staking rewards and on-chain T-Bills, making them a sustainable component of the crypto economy.
Moreover, Blast’s unique features, including ‘Blast Points’ for community engagement and an innovative approach to Layer 2 (L2) native yield generation, have contributed to its rapid growth. With its EVM-compatible optimistic rollup, the platform allows users to earn yield on stablecoins and bridge assets like USDC, USDT, and DAI to the platform.
As the platform continues to navigate its early stages, the crypto community is observing its progress and assessing its potential impact on the evolving landscape of crypto finance. Meanwhile, Roquerre’s commitment to transparency aims to dispel misconceptions surrounding Blast’s financial model.
