{"id":32919,"date":"2023-11-25T06:33:01","date_gmt":"2023-11-25T06:33:01","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/11\/25\/blur-blast-founder-responds-to-rumors-of-ponzi-scheme-addresses-security-concerns\/"},"modified":"2023-11-25T06:33:01","modified_gmt":"2023-11-25T06:33:01","slug":"blur-blast-founder-responds-to-rumors-of-ponzi-scheme-addresses-security-concerns","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/11\/25\/blur-blast-founder-responds-to-rumors-of-ponzi-scheme-addresses-security-concerns\/","title":{"rendered":"BLUR & Blast Founder Responds to Rumors of Ponzi Scheme, Addresses Security Concerns"},"content":{"rendered":"

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The BLUR token has set the altcoin market on fireplace with a staggering 100% positive factors during the last week amid the recent listing<\/a> by crypto change Binance. While the crypto group has been having fun with the meme fest there have been rumors spreading round BLUR being a ponzi scheme.<\/p>\n

Blur founder Clears the Air<\/h3>\n

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 engaging yield it provides. Packman explains that Blast\u2019s yield is sourced, initially, from Lido and MakerDAO.<\/p>\n

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The yield from Lido, in accordance to Packman, originates from Ethereum staking yield, an integral half of Ethereum\u2019s 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.<\/p>\n

Packman emphasizes that these yields will not be unsustainable and are elementary parts of each on-chain and off-chain economies. The motive Blast\u2019s 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.<\/p>\n

Addressing one other meme, Packman dismisses the notion that Paradigm performed a task in Blast\u2019s launch, stating unequivocally that Paradigm had zero involvement in Blast\u2019s go-to-market (GTM) technique. While acknowledging Paradigm\u2019s experience in analysis and technical L2 design (going dwell in February), Packman emphasizes that they don’t seek the advice of with Paradigm on GTM, holding these elements internalized.<\/p>\n

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Packman acknowledges that Paradigm has supplied post-launch recommendations, that are actively into consideration. He praises Paradigm as a analysis powerhouse and appreciates the collaborative relationship the place trusted entrepreneurs make closing choices, highlighting one of the explanations he enjoys working with the Paradigm workforce.<\/p>\n

FUD Around Blast Invite Rewards<\/h3>\n

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In response to circulating FUD (Fear, Uncertainty, Doubt) relating to Blast\u2019s 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.<\/p>\n

Explaining the rationale behind Blast\u2019s invite mechanism, Packman emphasised the pivotal position of the group within the venture\u2019s success. Acknowledging that Blast\u2019s 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) doable, and attaining this formidable imaginative and prescient requires collective effort.<\/p>\n

In Packman\u2019s view<\/a>, contributing to an L2 can take varied kinds, together with being a developer of the underlying protocol, creating functions 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 associates are offering real worth to the ecosystem and, due to this fact, deserve to be rewarded. This, Packman acknowledged, is the basic motive why invite rewards exist inside the Blast platform.<\/p>\n

As of press time, BLUR is buying and selling at $0.63 with a market cap of $691 million. There\u2019s been a heavy accumulation of BLUR<\/a> by whales lately. This can additional take the BLUR worth to $1.<\/p>\n

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