Following the controversial early access launch of the new Ethereum Layer 2 network Blast, Paradigm, which led Blast’s seed round alongside Standard Crypto, has spoken out against the project’s tactics.
Paradigm’s head of research Dan Robinson said in a post on X that the VC firm doesn’t agree with Blast’s decision to launch its bridge before the L2 network and to disable withdrawals for three months, which he said sets a bad precent for other projects. “We also think much of the marketing cheapens the work of a serious team,” Robinson added.
Paradigm has approached the Blast team with their concerns, but “there are still many points of disagreement,” Robinson said, adding, “We don’t endorse these kinds of tactics and take our responsibility in the ecosystem seriously.”
However, Robinson also praised Blast’s founder Tieshun Roquerre, also known as Pacman, who defended the network from critics this week. When working on Blend alongside Roquerre and his cofounder, “I got to witness their exceptional technical talent firsthand,” Robinson said. “We still think they are world-class builders who can deliver an L2 that brings value to the ecosystem.”
Roquerre, who founded the NFT marketplace Blur, has stated that Paradigm asked him to make changes to the protocol post-launch, and that the changes were under consideration, but ultimately the final call will be made by the Blast team.
Disclaimer: Larry Cermak, CEO of The Block, is an angel investor in Blast.
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