A Blog Post
The recently launched financial platform Blast, notable for its high-yield promises and invitation-based early access, has garnered significant attention. Founder Tieshun Roquerre has addressed some of the criticisms raised about the platform. This blog post delves into Blast's business model, Roquerre's responses to the criticisms, and the reactions from investors.
Blast's Claims and Responses to Criticisms
Blast offers users a native Layer-2 yield rate of 4-5%, claiming these yields are sourced from legitimate platforms. In response to criticisms about the platform’s high yields and invitation rewards, Roquerre states that these features are intended to encourage community growth.
Although Paradigm has "zero participation" in Blast's marketing strategy, it has contributed to research efforts. This highlights the significance of strategic partners in the platform's development.
Supported by a $20 million funding from investors like Paradigm and Standard Crypto, Blast has sparked considerable interest with its invite-only early access.
Community Reactions
Some investors have described Blast’s promised returns as "too good to be true," reflecting concerns about similarities to Ponzi schemes, often encountered in the crypto sector.
Blast's yields and business model present a novel approach in the fintech world. However, like any innovative platform, caution is advised for users and investors. Roquerre's responses to the criticisms may help alleviate some concerns about the platform's transparency and sustainability. Still, the long-term success of Blast will depend on market dynamics and user reactions.
