Blast Layer-2 Network Unlocks Billions in Crypto Funds At Launch, But Faces Criticism Over Locked-Up User Assets
• Over $2.3 billion in crypto funds locked up in Blast bridge ahead of mainnet launch to earn staking & airdrop rewards • Launch unlocked billions in funds, but some users withdrawing back to Ethereum amid wider crypto market surge • Blast is Ethereum layer-2 scaling network from Blur NFT founder, offers native yield on ETH & stablecoins • Aims to compete with other Ethereum scalers like Arbitrum and Polygon through incentives model • Launch criticized by some for locking up user funds for months; Paradigm critical of messaging & execution