Tieshun Roquerre, also known as “Pacman,” the founder of the NFT marketplace Blur, has written to address concerns about his newly launched L2 platform, Blast. He considers these concerns a “misunderstanding” and finds some of them humorous memes. According to him, his explanations were intended to clarify the situation and provide accurate information.
Blast launched recently and has recorded $443 million in TVL. Amidst the buzz, Blast had some security concerns where a hacker perpetrated a phishing scam and fake invite codes. Bitrace reported that $13,000 has been lost in the process.
In a recent discussion on X, Pacman mentioned a circulating meme that suggests Blast may be a Ponzi scheme. While the yield offered by Blast may seem too good to be true, Pacman clarified that the yield is actually generated from Lido and MakerDAO. He explained that the reason for the Ponzi perspective is that Blast makes accessing high yield accessible to everyone, effectively democratizing it.
Additionally, Pacman highlighted that the Lido yield is derived from ETH staking, while the MakerDAO yield comes from on-chain T-Bills. He emphasized that these yields are sustainable and play a crucial role in both the on-chain and off-chain economy.
Furthermore, Pacman strongly addressed another concern and made it clear that Paradigm had no involvement in Blast’s Go-to-Market (GTM), despite a meme suggesting otherwise. The Blast founder candidly stated, “I want to make this clear: Paradigm had zero involvement in Blast’s GTM. Candidly, they probably would have asked me to change a lot about Blast’s launch if they had been involved,”
In addition, he mentioned that they consult with Paradigm on technical L2 design, but the GTM (Go-To-Market) strategy is developed internally. While discussing this, he noted that Paradigm had requested changes to the Blast GTM plans after launch and that they were considering Paradigm’s suggestions. However, he emphasized that Blast has the final decision-making authority when working with external entities.
Another concern raised by users is Blast’s invite rewards. Addressing this, the founder acknowledged the fear, uncertainty, and doubt (FUD) surrounding the model and clarified that it is not a new concept. “Invite systems have been around for a long time,” he explained.
Furthermore, the founder emphasized the importance of the Blast community, suggesting that the invite mechanism is intended to foster a strong community. He also highlighted the significance of community participation in realizing Blast’s vision. As such, one of Blast’s goals is to expand the on-chain economy using the most profitable L2 solution available.
According to the founder, there are three primary ways to contribute to the Blast ecosystem. The first is by becoming a developer of the underlying Blast protocol. The second is by creating applications within the Blast platform. Lastly, users themselves can contribute and play a significant role.
Interestingly, the founder emphasizes that being a user who brings along other users is an effort deserving of recognition. “If you are a user and help make Blast a thriving L2 by bringing friends along, you are providing real value and should be rewarded for that. That’s why invite rewards exist”, explained the founder.
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