Posted 11/24/2023, 11:57:42 PM
New Ethereum project Blast sees surge in crypto deposits, raises sustainability concerns
- Interest in new Ethereum layer-2 network Blast bringing in lots of crypto deposits, over $400M TVL just days after announced
- Blast promises high, "risk-free" yields to attract users to deposit crypto, launch set for February
- Some critics concerned Blast model is risky, calling it a potential Ponzi scheme requiring trust in anonymous signers
- Blast lead Pacman claims high yields sourced sustainably from DeFi protocols like Lido and MakerDAO
- Despite concerns, crypto deposits pouring in rapidly, over $400M TVL and 50K users, unable to withdraw for months