{"id":13219,"date":"2023-11-26T16:59:49","date_gmt":"2023-11-26T21:59:49","guid":{"rendered":"http:\/\/leadingcryptonews.com\/blasts-marketing-approach-cheapens-the-work-of-a-serious-team-paradigm\/"},"modified":"2023-11-26T16:59:49","modified_gmt":"2023-11-26T21:59:49","slug":"blasts-marketing-approach-cheapens-the-work-of-a-serious-team-paradigm","status":"publish","type":"post","link":"https:\/\/leadingcryptonews.com\/blasts-marketing-approach-cheapens-the-work-of-a-serious-team-paradigm\/","title":{"rendered":"Blast\u2019s marketing approach \u201ccheapens the work of a serious team\u201d \u2014 Paradigm"},"content":{"rendered":"<p> <br \/>\n<br \/><noscript><img decoding=\"async\" class=\"lazyload\" src=\"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=840\/https:\/\/s3.cointelegraph.com\/uploads\/2023-11\/6009f80a-30a6-44fe-b3de-224a71b95412.jpg\" \/><\/noscript><\/p>\n<div data-v-8081b7b6=\"\">\n<p>Crypto venture capital firm Paradigm criticized Blast\u2019s protocol marketing strategy, claiming the startup \u201ccrossed lines in both messaging and execution.&#8221; The VC firm is a seed investor in Blast.<\/p>\n<p>The head of research at Paradigm, Dan Robinson, shared a statement on X (formerly Twitter) expressing disagreement about Blast\u2019s decision to launch a bridge before its layer-2 network and to not allow withdrawals for three months. \u201cWe think it sets a bad precedent for other projects,\u201d Robinson wrote, adding that \u201cmuch of the marketing cheapens the work of a serious team.\u201d <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">There are a lot of components of Blast that I\u2019m excited about and would be interested in engaging with people on. That said, we at Paradigm think the announcement this week crossed lines in both messaging and execution. For example, we don\u2019t agree with the decision to launch the\u2026<\/p>\n<p>\u2014 Dan Robinson (@danrobinson) November 26, 2023<\/p><\/blockquote>\n<p>Paradigm has been in touch with Blast about its concerns, Robinson noted, emphasizing that \u201cthere are still many points of disagreement\u201d between the companies. <\/p>\n<p>Despite the criticism, the head of research also acknowledged that Blast\u2019s team is formed by \u201cworld-class builders,\u201d with demonstrated \u201cability to build great products.\u201d Blast's governance structure is unclear, as is Paradigm's role in the startup's decision-making process. According to Robinson:<\/p>\n<blockquote><p>&#8220;We invest in strong, independent founders who we don\u2019t always agree with. But we understand that people may look to us to set an example on best practices in crypto. We don\u2019t endorse these kinds of tactics and take our responsibility in the ecosystem seriously.&#8221;<\/p><\/blockquote>\n<p>Paradigm isn\u2019t the first company to address Blast\u2019s recent launch. Jarrod Watts, developer relations engineer at Polygon Labs, said the network's centralization poses a significant security risk.<\/p>\n<p>In addition, Watts noted that Blast &#8220;is just a 3\/5 multisig\u201d, meaning that if an attacker gains access to three out of five team members' keys, they can steal all cryptocurrency deposited into Blast's contracts. <\/p>\n<p>Watts also claimed that Blast \u201cis not a layer 2,\u201d but simply \u201caccepts funds from users\u201d and \u201cstakes users\u2019 funds into protocols like LIDO\u201d without using any bridges or testnet. Additionally, he criticized the lack of withdrawal functionality. To withdraw in the future, users must trust that developers will add withdrawal functionality in the future.<\/p>\n<p>In spite of the controversy surrounding its launch, Blast has amassed over $555 million in total value locked (TVL) since its launch a few days ago. The protocol claims to be \u201cthe only Ethereum L2 with native yield for ETH and stablecoins.\u201d An airdrop is scheduled for January.<\/p>\n<p><strong>Magazine:<\/strong> <strong>Are DAOs overhyped and unworkable? Lessons from the front lines<\/strong><\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/blast-marketing-cheapens-work-serious-team-paradigm\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto venture capital firm Paradigm criticized Blast\u2019s protocol marketing strategy, claiming the startup \u201ccrossed lines in both messaging and execution.&#8221; The VC firm is a seed investor in Blast. The head of research at Paradigm, Dan Robinson, shared a statement on X (formerly Twitter) expressing disagreement about Blast\u2019s decision to launch a bridge before its [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13220,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-13219","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.6 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Blast\u2019s marketing approach \u201ccheapens the work of a serious team\u201d \u2014 Paradigm - Leading Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadingcryptonews.com\/blasts-marketing-approach-cheapens-the-work-of-a-serious-team-paradigm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blast\u2019s marketing approach \u201ccheapens the work of a serious team\u201d \u2014 Paradigm\" \/>\n<meta property=\"og:description\" content=\"Crypto venture capital firm Paradigm criticized Blast\u2019s protocol marketing strategy, claiming the startup \u201ccrossed lines in both messaging and execution.&#8221; The VC firm is a seed investor in Blast. 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