Blast founder Pacman: Blast democratizes higher returns, and Paradigm was not involved in Blast's go-to-market strategy
ChainCatcher message, Blur and Blast founder Pacman posted on the X platform: "I've seen a lot of misunderstandings about Blast. While many of them are humorous jokes, we still need to clarify a few points:
- The belief that Blast is a Ponzi scheme because the returns it offers to users seem too unreal. Simply put, the returns provided by Blast (initially) come from Lido and MakerDAO. Lido's yield comes from the ETH staking yield, which is part of Ethereum's Proof-of-Stake consensus mechanism. In this case, the yield from ETH comes from Ethereum itself. MakerDAO's yield comes from on-chain T-Bills. T-Bills are the debt of the U.S. government.
The reason the yields in Blast feel too good to be true is that Blast defaults this yield for everyone. It provides users with yields that are hidden in plain sight. In reality, it democratizes higher yields.
The belief that Paradigm is responsible for the launch of Blast. I want to clarify that Paradigm was not involved in Blast's GTM (go-to-market strategy, which is our internal work). If they had been involved, they might have asked me to make many changes to the launch of Blast. We consulted Paradigm on the technical design of L2 (launched in February), and Paradigm had asked me to modify the GTM plan after the launch. We are actively considering their suggestions.
Regarding the FUD about Blast's invitation rewards. The invitation system of Blast is not a new mechanism, and I do not like marketing mechanisms for "growth." Regarding the existence of the invitation mechanism, to take a step back, without the community, Blast would achieve nothing. As one of the first contributors to Blast, our goal is to develop the on-chain economy with the highest yielding L2 possible. A thriving L2 cannot exist without user participation, and users should be rewarded for this, which is the reason for the existence of invitation rewards."
