This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Crypto venture capital firm Paradigm has criticized Blast’s protocol marketing strategy, particularly its decision to launch a bridge before enabling withdrawals. This move effectively locks user funds for months, which Paradigm believes sets a bad precedent for other projects. Despite the criticism, Paradigm acknowledges that Blast’s team consists of talented builders. However, the governance structure and Paradigm’s role in decision-making at Blast are unclear. Polygon, another company, has also criticized Blast, citing concerns about its centralization and security risks. Blast has faced controversy since its launch but has managed to amass $555 million in total value locked (TVL) in a short period. The protocol claims to be the only Ethereum Layer-2 with native yield for ETH and stablecoins, sparking a debate about the need for more Layer-2 networks in the DeFi ecosystem.