Blast founder denies Ponzi scheme claims as TVL rockets past $400 million

8:59 pm
November 25, 2023

Founder of Blast Sets the Record Straight on Ponzi Scheme Claims as TVL Exceeds $400 million

In a recent twist of events, Blast has faced scrutiny and Ponzi scheme claims. However, the founder, Tieshun Roquerre, has vehemently denied these allegations. The platform has achieved a significant milestone with a Total Value Locked (TVL) exceeding $400 million, emphasizing the platform’s rapid growth and unique features. Roquerre clarifies that Blast’s 4 to 5% yield comes from reputable platforms like Lido and MakerDAO.

Launched in an invite-only early access mode, the Blast platform raised $20 million from investors including Paradigm and Standard Crypto and has quickly gained attention, with a TVL exceeding $400 million. The platform’s unique features, such as ‘Blast Points’ for community engagement, have contributed to its rapid growth.

Blast positions itself as the first Layer 2 (L2) with native yield. Despite concerns about a lockup period and the status of the L2, Roquerre envisions Blast’s potential impact on reducing transaction costs and enhancing institutional-grade NFT perps.

Tieshun Roquerre, the founder of Blast, has strongly refuted allegations labeling the platform as a Ponzi scheme. He emphasizes that Blast’s 4 to 5% yield is sourced from reputable platforms like Lido and MakerDAO, aiming to dispel misconceptions surrounding Blast’s financial model.

As Blast navigates its early stages, the cryptocurrency community remains vigilant, observing the platform’s progress and assessing its potential impact on the evolving landscape of crypto finance.

Fact Check
The founder of Blast, Tieshun Roquerre, has denied Ponzi scheme claims, emphasizing that Blast’s yield comes from reputable platforms like Lido and MakerDAO.

FAQs

1. What is Blast?

Blast is a platform that positions itself as the first Layer 2 (L2) with native yield. It promises an EVM-compatible optimistic rollup, allowing users to earn yield on stablecoins.

2. What is Total Value Locked (TVL)?

Total Value Locked (TVL) refers to the total value of assets, typically cryptocurrency, that is locked or staked in a decentralized finance (DeFi) protocol.

3. What are ‘Blast Points’?

‘Blast Points’ is a feature on the Blast platform for community engagement.


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