Blast, an Ethereum Layer-2 solution that has been on the agenda in recent weeks and is equally controversial, has set the launch date for its mainnet as February 29.
The project introduced February 29 as “A New Era”.
The total value locked (TVL) on Blast had recently crossed the $2 billion mark.
There were allegations that the project was a Ponzi scheme when it was first launched and raised investments. However, Blast founder Tieshun Roquerre denied these allegations.
The fact that the assets deposited in Blast could not be withdrawn yet led to Ponzi allegations.
Some observers liken the points Blast offers to a pyramid scheme that allows early users to earn more points based on the number of users they bring in. According to the technical documentation, users earn 16% additional points when the users they invite bring more participants, and 8% additional points when the second level brings more people.
Yesterday, it was revealed that RiskOnBlast, which operates on Blast but is not affiliated with the developers of the project, was a rugpull scam.
*This is not investment advice.