Crypto capital company Paradigm, operating in the crypto market, criticized Blast’s protocol marketing strategy. According to the Paradigm team, Blast transcends limits both in messaging and in application. It should also be noted that Paradigm is one of the first investors in Blast.
Dan Robinson, the research director at Paradigm, criticized Blast’s decision to launch the bridge platform before Layer-2 and the inability of users to withdraw their funds for three months. Robinson said, “This sets a bad precedent for other projects. It cheapens the work of a serious team in the marketing process.”
Robinson emphasized that the Paradigm team has been in communication regarding their concerns about Blast, highlighting that there have been several points of disagreement between the companies throughout the process. Despite the criticisms, Robinson also acknowledged that the Blast team consists of proven high-level developers with the ability to develop great products for Web3.
Paradigm is not the first company to criticize Blast’s recent ecosystem launch. Jarrod Watts, a developer relations engineer at Polygon Labs, stated that the centralization tendencies below pose a significant security risk. Furthermore, he warned that if an attacker gains access to the keys of three out of five team members, the ecosystem could be in danger since the Blast ecosystem is built solely on 3/5 multi-signature.
Watts also criticized Blast for not being a Layer-2 network and allowing users to deposit their funds into protocols like LIDO without using bridges or testnets, as well as the absence of a withdrawal function in the ecosystem.