Founder Addresses Blast's Launch Concerns

Tieshun Roquerre, also known as Pacman, founder of Blast, recently addressed several concerns surrounding the platform's launch. Roquerre tackled misunderstandings and criticisms, including claims of Blast being a Ponzi scheme.

Blast's Early Access and Investor Strategy

Blast, which entered early access after a $20 million investment from Paradigm and Standard Crypto, claims to provide native Layer 2 yield generation for ether and stablecoins. Roquerre addressed criticisms of Blast's high yields, emphasizing their legitimacy from platforms like Lido and MakerDAO.

Legitimacy of Blast's Yields

Roquerre defended Blast's yields, stating they are not unsustainable and are a fundamental part of the on-chain and off-chain economy. He explained that Blast's platform democratizes higher yield by making it the default for everyone.

Invite Rewards Clarification

Responding to criticism of Blast's invite rewards system, Roquerre clarified that it is not a marketing gimmick but a strategic move to foster community growth. He asserted that users contributing to ecosystem expansion deserve rewards, refuting claims that the structure resembles a pyramid scheme.

Paradigm's Role and Post-Launch Changes

Roquerre also addressed memes suggesting Paradigm's significant involvement in Blast's launch. He clarified that Paradigm had "zero involvement" in Blast's go-to-market strategy and, if consulted, might have suggested changes. Paradigm did, however, request post-launch alterations, which were under consideration by the Blast team.

Blast's Multisig Security

In a separate post, Blast aimed to clarify its multisig security model. Responding to criticism of being controlled by just five people, Blast likened its approach to other Layer 2 solutions like Arbitrum and Optimism. The platform emphasized the effectiveness of its nuanced multisig security, with signing keys stored in cold storage and managed by geographically distributed entities. Blast also outlined plans to diversify hardware wallet providers to enhance security.

While Blast's founder addressed concerns transparently, the need for post-launch alterations raises questions about the initial strategy. The platform must navigate carefully to ensure community trust and address potential security risks.