Crypto VC Paradigm criticized Blast's protocol marketing strategy, claiming it "crossed lines in both messaging and execution." Paradigm is one of the investors of the new Layer 2 Blast.
Dan Robinson, the head of research at Paradigm, expressed disagreement about Blast's strategy to launch a bridge before its layer-2 network and to not allow withdrawals for 3 months.
Dan wrote in X:" We think it sets a bad precedent for other projects. Much of the marketing cheapens the work of a serious team."
Dan also added:
"We invest in strong, independent founders who we don’t always agree with. But we understand that people may look to us to set an example on best practices in crypto. We don’t endorse these kinds of tactics and take our responsibility in the ecosystem seriously."
Blast went live on last Tuesday in an invite-only early access mode, following a $20 million raise from Paradigm and Standard Crypto, among others. Blast claims to offer native Layer 2 yield generation for ether and stablecoins, with automatically compounding balances at 4 to 5%, alongside invite rewards known as “Blast Points,” the team said at the launch. The project has attracted over $500 million in bridged assets so far.