The BLUR token has set the altcoin market on hearth with a staggering 100% beneficial properties during the last week amid the current itemizing by crypto change Binance. Whereas the crypto neighborhood has been having fun with the meme fest there have been rumors spreading round BLUR being a ponzi scheme.
Blur founder Clears the Air
In response to circulating memes and misconceptions about Blast, BLUR founder Packman took to social media to set the report straight on sure key factors. One prevalent meme means that Blast operates as a Ponzi scheme as a result of seemingly enticing yield it provides. Packman explains that Blast’s yield is sourced, initially, from Lido and MakerDAO.
The yield from Lido, in keeping with Packman, originates from Ethereum staking yield, an integral a part of Ethereum’s Proof-of-Stake consensus mechanism. However, MakerDAO yield comes from on-chain T-Payments, that are debt obligations from the US authorities.
Packman emphasizes that these yields aren’t unsustainable and are basic elements of each on-chain and off-chain economies. The explanation Blast’s yield could appear too good to be true, as per Packman, is that Blast makes this yield the default for all customers, successfully democratizing larger yield.
Addressing one other meme, Packman dismisses the notion that Paradigm performed a task in Blast’s launch, stating unequivocally that Paradigm had zero involvement in Blast’s go-to-market (GTM) technique. Whereas acknowledging Paradigm’s experience in analysis and technical L2 design (going dwell in February), Packman emphasizes that they don’t seek the advice of with Paradigm on GTM, retaining these features internalized.
Packman acknowledges that Paradigm has supplied post-launch strategies, that are actively into account. He praises Paradigm as a analysis powerhouse and appreciates the collaborative relationship the place trusted entrepreneurs make last choices, highlighting one of many causes he enjoys working with the Paradigm group.
FUD Round Blast Invite Rewards
In response to circulating FUD (Concern, Uncertainty, Doubt) concerning Blast’s invite rewards, BLUR founder Packman clarified that the invite system just isn’t a brand new mechanism however a well-established idea that has been in use for a substantial interval.
Explaining the rationale behind Blast’s invite mechanism, Packman emphasised the pivotal function of the neighborhood within the challenge’s success. Acknowledging that Blast’s imaginative and prescient closely depends on neighborhood contribution, Packman highlighted that the purpose is to foster the on-chain financial system with the highest-yield Layer 2 (L2) potential, and reaching this formidable imaginative and prescient requires collective effort.
In Packman’s view, contributing to an L2 can take numerous types, together with being a developer of the underlying protocol, creating functions on high of the L2, or being a person of the L2. Drawing an analogy, he likened the neighborhood to the individuals in a metropolis, emphasizing that customers who assist make Blast a thriving L2 by bringing in mates are offering real worth to the ecosystem and, due to this fact, should be rewarded. This, Packman acknowledged, is the basic cause why invite rewards exist throughout the Blast platform.
As of press time, BLUR is buying and selling at $0.63 with a market cap of $691 million. There’s been a heavy accumulation of BLUR by whales lately. This will additional take the BLUR value to $1.
The offered content material could embody the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability to your private monetary loss.
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