Blast, a cutting-edge agricultural initiative that has already collected over $830 million in deposits, is collaborating with Paradigm, a major investor, to eliminate contentious stories. This is the strategy they want to use.
Blast L2 undergoes major upgrade “to set better precedent,” Paradigm’s Dan Robinson says
Dan Robinson, a seasoned cryptocurrency investor and the head of research at prominent cryptocurrency VC Paradigm, revealed a development in Blast’s technological architecture. He stated on X yesterday, Dec. 8, that the protocol will switch to a new upgrading scheme the following week.
He emphasised that the new time-locked upgrade approach is available to teams that are interested in “emulating” Blast and is available from the outset. Robinson updated the LaunchBridge.sol contract and included two GitHub Gist URLs.
https://x.com/danrobinson/status/1733187417694486541?s=20
The withdrawAndLosePoints function is specifically impacted. The goal of the update, according to Paradigm’s GP, is to “set a better precedent.”
As previously reported by U.Today, Blast came under fire for misrepresenting an Ethereum-based rollup as a “single-node sidechain” and exploiting the L2 narrative.
Blast TVL goes through roof: Fastest-growing L2?
Its tokenomical architecture has also come under fire for offering unpredictable incentives, which draw in most liquidity providers.
Criticism, however, does not stop Blast from setting new records for total value locked (TVL). The DefiLlama tracker shows that at of press time, LPs had injected almost $838 million in equivalent USDC, DAI, and Ethereum (ETH).
This amount was mostly added during the initial days of Blast’s public beta debut. Crypto investor 21Shares highlights that Blast is the network with the quickest growth rate in its Dune Analytics dashboard, but emphasises that it should not be viewed as a second-layer scaling option.
Although Blast is not yet an L2, they have begun to accept deposits using multi-sig contracts.
Additionally, Blast was classified by DefiLlama as a yield farming software rather than as a different L2 blockchain on Ethereum (ETH).
