Aside from the garishness of it all, there’s been criticism of what some commentators describe as a potentially risky setup, where depositors are essentially relying on faith in an undisclosed group of “engineers” – as opposed to more robust security measures – to safeguard their cryptocurrency ahead of Blast’s real launch. For now, user deposits into Blast’s crypto wallet can’t be withdrawn. And at least initially, the juicy yields won’t come from any internal workings of Blast, but from routing deposits to other yield-paying projects, primarily the liquid-staking protocol Lido, adding yet another layer of risk.
Blast, Latest to Ethereum’s Layer-2 Parade, Stands Out From Rivals – in Hype
