BLAST - This is an optimistic L2 solution, just like we are all used to seeing, but with the introduction of profitability for all users! Its founder is none other than Pacman - The same person who founded Blur, who managed to feed many fat checks..... As Pacman writes, the reason for the creation of the new L2 Solution was not only the high commissions, but also the presence of huge liquidity in Blur (About 100$ million), which is lying idle and does not bring any profit to its owners. Aww... how cute is that 🥰 Do they really care?) What do you think? So BLAST is the first L2 Solution to offer its users the opportunity to earn a return on their $ETH and stablecoin holdings: 4% annualized for $ETH and 5% on stablecoins. Essentially an interactive kind of staking for which all you have to do is send dough to the L2 network BLAST. 🔴 But that's all lip service for now.... None of this is REALIZED and that's important. It is important to realize that the PROJECT is NOT even in the TESTnet.

❗️ It is also very IMPORTANT to understand the following. In fact, on paper (which is also not there, we take information from the site, not from the documentation, lol), BLAST is a kind of intermediate layer between us and the protocols Lido, MakerDAO, which already have an established status on the market (in the future these protocols may be replaced by others). Take into account a few more nuances that can be labeled as 🚩 [Native Yield - via RFR T-bills or LSD. RWA narrative. Blast is EVM equivalent, so you can build Dapps on Blast without learning a new toolkit. And all other EVMs are not EVM equivalent, right? Gas Fee Revenue - taken from Superposition, Aurora ref system, zkSync refunds or maybe Gnosis with their DAI in bridge module?] and that's not all. We'll put it all 🚩 in one post later.... For now, let's continue... For many, the integration of yield into L2 has been a reason to worry about the safety of their funds. Yes, Lido and MakerDAO are not 100% safe protocols, but due to their experience and time, one can worry less about safety.... It's okay. But again. There are risks of hacking.

This whole affair got a bashing from the much loved Paradigm! Yes, BLAST has already closed a $20 million investment round with the participation of Paradigm, Standard Crypto (The types who raided Sui, OpenSea, Yuga Labs and others), eGirl Capital, angels in the form of Santiago R. Santos. Santos (He also invested in Blur, L0 and several other projects), Andrew Kang (Co-Founder of Mechanism Capital), Hasu (Strategic Advisor of Lido Finance, Flashbots) and others. I'll highlight 🟢 Green flag right away, the investors here are very impressive indeed. Looking at this table of funds we realize that there are DAYMONDHANDS sitting here, funds that enter projects "to flip" less often and have a large number of successful cases (the ratio of projects that dropped drops and tokens of these projects are not rolled into the floor, and some of them even regularly update hai). Going lower and we see Manifold Trading, also a tyr1 fund. Under such circumstances, 20 mlam is dust, it is quite likely they will get the dough before going to the mainnet, which will take place in half a year. Let's now compare everything 🔴 and 🟢 First up is GREEN:

• Standing behind the project is Pacman (chief bluer) and his team

• Strong investors and partners

• A working idea for the project

• Excellent support for builders, which will entail various projects based on them

• Officially confirmed drop

• Fucking great hype around the project.

  Now TVL BLAST is 400.000.000$, which is more than ten times more than Scroll (40.000.000$), and Scroll has been operating for a month! P.S. Soon zkSync will rest, they have TVL between 150-300 million (Dune 300, Defiliama 150). And it's also worth noting that BLAST has no more than 40,000 users (P.S. Not including BLUR holdings). Now 🔴 Red flags:

  • Ponzi elements

  • Unrealized core product, even on the testnet. Adam Cochran called it a multisig with limited features

  • Lack of technical documentation, tokenomics.... "Need More Info? More docs will be available when the Blast Developer Airdrop and Testnet launches in January. In the meantime, join our Discord to learn more." 🤣

  • Very aggressive marketing with MLM elements in the referral system (this is personally for me red, for the project itself is green, watch TVL)

  • Long lock of funds and the risk of losing your conventions in a hack, miss the local bull run

    CONCLUSION 🤵 It's really 50/50 here. We're either in for a fat profit or a ret. Particularly alarming is some crazy trend of hacks. And we're in it for the long haul and a lot... I don't recommend putting more than 5% of the bank in here. Even 5% is a lot for the risk-averse.