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The year 2023 ended with airdrops and market-shaking announcements. As of the time of writing, the total value locked (TVL) in the Layer-2 project Blast, which has the potential to be one of these projects, appears to have risen to $1.14 billion.
However, the number of new entrants is also gradually decreasing. Speaking of Blast’s situation, it is one of the most anticipated projects for an airdrop in 2024 within the community. Many users continue to deposit money into Blast to benefit from the airdrop.
Pacman Celebrates Blast Milestone
The notable project Blast and the Non Fungible Token (NFT) market founder Blur’s co-founder Pacman, made a statement on X (Twitter) and used the following words:
I am incredibly excited to close the year with this milestone. The power of Web3 is that gains for protocols are gains for the entire community. However, I believe much more can be done to ensure that value creation reaches the end-users, who are the lifeblood of the chain economy. I am excited for the next year!
Looking at the screenshot below, Blast’s TVL has surpassed $1 billion and is valued at approximately $1.14 billion. In addition, Blast has set aside an incredible investment amount of $1 billion for staking in Lido. Approximately $1 million in assets were sent to Maker to earn returns from stablecoins.
Apart from all this, as of the time of writing, more than $3 million in the Blast wallet continues to sit idle without a known purpose. The fact that users’ funds are expected to remain locked in the Blast protocol until the anticipated mainnet launch in February 2024 has also been a point of concern for investors.
Criticisms About Blast
Since its launch in November 2023, the project has received heavy criticism from investors for its strategy of not allowing withdrawals until the mainnet goes live. Dan Robinson, a researcher at Paradigm and one of Blast’s investors, also criticized the project’s marketing and communication strategy.
Despite all this, Blast has been invested in by more than 82,000 wallets. On the other hand, the screenshot below shows a significant decline in new investors. On December 20th, there were 118 new wallet owners who joined the project.
