The BLUR token has set the altcoin market on fireplace with a staggering 100% features over the past week amid the recent listing by crypto trade Binance. While 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 file straight on sure key factors. One prevalent meme means that Blast operates as a Ponzi scheme due to the seemingly enticing yield it gives. Packman explains that Blast’s yield is sourced, initially, from Lido and MakerDAO.
The yield from Lido, in accordance to Packman, originates from Ethereum staking yield, an integral half of Ethereum’s Proof-of-Stake consensus mechanism. On the opposite hand, MakerDAO yield comes from on-chain T-Bills, that are debt obligations from the US authorities.
Packman emphasizes that these yields will not be unsustainable and are elementary elements of each on-chain and off-chain economies. The purpose Blast’s yield could seem too good to be true, as per Packman, is that Blast makes this yield the default for all customers, successfully democratizing greater 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. While acknowledging Paradigm’s experience in analysis and technical L2 design (going reside in February), Packman emphasizes that they don’t seek the advice of with Paradigm on GTM, preserving these points internalized.
Packman acknowledges that Paradigm has offered post-launch options, that are actively into account. He praises Paradigm as a analysis powerhouse and appreciates the collaborative relationship the place trusted entrepreneurs make closing selections, highlighting one of the explanations he enjoys working with the Paradigm workforce.
FUD Around Blast Invite Rewards
In response to circulating FUD (Fear, Uncertainty, Doubt) concerning Blast’s invite rewards, BLUR founder Packman clarified that the invite system 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 group within the challenge’s success. Acknowledging that Blast’s imaginative and prescient closely depends on group contribution, Packman highlighted that the objective is to foster the on-chain economic 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 varieties, together with being a developer of the underlying protocol, creating functions on high of the L2, or being a consumer of the L2. Drawing an analogy, he likened the group to the folks 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, deserve to be rewarded. This, Packman said, is the elemental purpose 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 just lately. This can additional take the BLUR value to $1.
The introduced content material might embrace the non-public 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 accountability in your private monetary loss.
