The BLUR token has set the altcoin market on hearth with a staggering 100% positive factors during the last week amid the recent listing by crypto trade Binance. Whereas the crypto group 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 document straight on sure key factors. One prevalent meme means that Blast operates as a Ponzi scheme as a result of seemingly engaging yield it affords. Packman explains that Blast’s yield is sourced, initially, from Lido and MakerDAO.
The yield from Lido, in response to 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 elementary elements of each on-chain and off-chain economies. The rationale 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 increased 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 stay in February), Packman emphasizes that they don’t seek the advice of with Paradigm on GTM, maintaining these elements internalized.
Packman acknowledges that Paradigm has offered post-launch ideas, 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 shouldn’t be 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 group within the undertaking’s success. Acknowledging that Blast’s imaginative and prescient closely depends on group contribution, Packman highlighted that the purpose is to foster the on-chain economic system with the highest-yield Layer 2 (L2) potential, and attaining this bold imaginative and prescient requires collective effort.
In Packman’s view, contributing to an L2 can take numerous varieties, together with being a developer of the underlying protocol, creating purposes on high of the L2, or being a person of the L2. Drawing an analogy, he likened the group to the individuals in a metropolis, emphasizing that customers who assist make Blast a thriving L2 by bringing in pals 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 inside 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 just lately. This could additional take the BLUR value to $1.
The introduced content material might embody the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty to your private monetary loss.
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