Paradigm researcher Dan Robinson questioned Blast’s launch plans, saying the company does not support “these kinds of tactics.”
Blast, a layer 2 network announced by Blur founder Tieshun Roquerre, is facing criticism from its own backers after security experts raised concerns about the network model after the protocol’s total value locked (TVL) increased by more than $300 million.
Dan Robinson, a researcher at Paradigm, a cryptocurrency-focused venture firm that backed Blast with $20 million, said in a recent X post that the company was discussing “concerns” with the Blast team. disagreement.”
Robinson emphasized that there are “many components of Blast” that he is “excited about,” but acknowledged that the way the project launched its product “set a bad precedent for other projects.”
“But at Paradigm, we believe this week’s announcement crossed a line in terms of messaging and execution.”
Dan Robinson
Robinson’s statement comes nearly a week after Roquerre revealed that Paradigm, along with Standard Crypto and others, had supported his new venture to reduce transaction costs for digital collectibles.
Nov 24 Via and X lineBlast cautioned that contract code security is never completely foolproof and that each smart contract design has associated vulnerabilities.
However, to raise funds from the cryptocurrency community, Blast launched a one-way bridge with over $300 million allocated. Additionally, Blast’s asset portfolio provided by DeBank shows millions of dollars held in Ether (stETH) staked by Lido and Maker’s DAI, a decentralized finance stablecoin.
As Roquerre said in the announcement post, Blast will use customer funds to participate in Ethereum (ETH) staking, automatically returning staking profits to network users and decentralized applications.