Crypto News – Despite the platform’s February launch date, Blast has amassed more than $1.1 billion in deposits due to a May airdrop that was promised.
Blast Crypto Deposits Break $1.1 Billion Record Even Before Launch
Since the platform went live last month, traders have deposited $1 billion worth of staked Ether (stETH) and $103 million worth of Dai (DAI) stablecoin, according to DefiLlama.
Depositors also receive “Blast Points,” which can be redeemed for an airdrop that will be sent out in May, and a yield of about 5% on their staked assets in exchange. By introducing others to the network, users may also earn points.
Paradigm is Among the Critics of Blast Crypto
Blur launched an NFT marketplace in February and then conducted a similar airdrop. With a 23% increase over the last month, the market capitalization of the BLUR token is $500 million.
Some in the cryptocurrency community have criticized the idea of accepting deposits on a platform that is not yet operational. They claim that the project has all the makings of a pyramid scheme, in which affiliate marketers and early depositors will get the majority of the eventual airdrop. A portion of the criticism even came from Paradigm, a venture capital firm that supported Blast.
Leave a comment