After being listed on the leading cryptocurrency exchange Binance, BLUR token has shown an increase of over 100% in the past week. While the crypto community celebrates this rise, concerns have been raised about BLUR potentially being a pyramid scheme. The founder of BLUR has made a statement regarding this.
Packman, the founder of BLUR, responded to rumors and misunderstandings circulating on social media. There is a common belief that Blast is operated as a pyramid scheme due to its attractive returns.
Packman explains that the returns from Blast come from Lido and MakerDAO. The return from Lido comes from Ethereum staking, which is an important element of Ethereum’s Proof-of-Stake (PoS) consensus. On the other hand, the return from MakerDAO comes from T-Bonds, which are chain-top debt commitments of the US government.
Packman states that the incredible returns of Blast, which may seem unbelievable, democratize higher returns for users by defaulting to the assumed option.
Packman firmly denies any role of Paradigm in the launch strategy of Blast. He emphasizes that the expertise of Paradigm is highly appreciated but they do not provide consultancy services in these matters.
According to the latest update, BLUR is trading at $0.63 with a market value of $691 million. Particularly, the significant accumulation of BLUR by whales strengthens expectations that the token price could potentially reach $1.