Cryptocurrency Project Blast Surpasses $660M TVL Despite Mockery Surrounding Developer Recruitment

Cryptocurrency Project Blast Surpasses $660M TVL Despite Mockery Surrounding Developer Recruitment

Recent data reveals that Blast, the new layer two (L2) blockchain platform, has accumulated a significant $660 million in value within its decentralized finance (defi) protocol.

Blast, a project conceived by Pacman, the creator of the NFT marketplace Blur, has quickly gained attention in recent times. In less than a week, the platform’s total value locked (TVL) increased to around $400 million.

Controversies and Allegations

Despite its success, Blast faced accusations of being a Ponzi scheme. However, Paradigm, a key investor in the project, acknowledged that the team made mistakes in communication and implementation.

Pacman defended the project against the Ponzi scheme allegations and clarified that Paradigm had no involvement in shaping Blast’s market entry strategy. Despite the controversies, Blast witnessed its TVL grow to $660 million in just five days, with an additional $104 million added.

Hiring Senior Blockchain Developers

On November 30, when the TVL reached $634 million, Blast announced its plans to expand its team. The project advertised open positions for senior devops engineers and senior protocol engineers, seeking qualified developers to contribute to Blast.

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The hiring announcement was met with skepticism due to the project’s lack of engineering staff. Critics questioned how Blast had amassed such a high TVL without a mainnet, testnet, code, or employees.

Blast’s Crypto Assets

Currently, Blast holds a portfolio consisting of 198,733 ether, 73,518 staked ether (STETH), and significant amounts of stablecoins, including 39.56 million USDC, 30.66 million USDT, and 15.6 million DAI tokens.

The Role of Senior Protocol Engineer

The role of senior protocol engineer is crucial for Blast. This individual will play a significant part in adapting the open-source OP Stack, which is built on go-ethereum. The OP Stack is a shared and open-source development framework that powers Optimism and other L2 forks.

Hot Take: Blast’s Growth and Hiring Efforts

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Blast has experienced remarkable growth, accumulating $660 million in value within its defi protocol. Despite facing controversies and allegations, the project continues to expand. With open positions for senior blockchain developers, Blast aims to strengthen its team and expertise. However, skepticism remains regarding the project’s lack of engineering staff. As Blast moves forward, it will be crucial to address these concerns and prove its sustainability in the crypto industry.

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Benito Cormi, the brilliant crypto analyst who has made waves in the world of cryptocurrency. With his razor-sharp analytical skills and deep understanding of the digital asset landscape, Benito has become a trusted figure in the industry and remains at the forefront, tirelessly researching and analyzing market trends to help individuals and businesses make informed decisions in this dynamic landscape.