LianGuairadigm Blast marketing strategy has decreased team efficiency

LianGuaradigm's Blast marketing strategy has caused a reduction in team efficiency

Author: Ana LianGuaiula Pereira, Cointelegraph; Translation: Song Xue, LianGuai

Cryptocurrency venture capital firm LianGuairadigm criticizes Blast’s protocol marketing strategy, claiming that the startup company “has a crossover in messaging and execution.” This venture capital firm is an early investor in Blast.

LianGuairadigm research director Dan Robinson shared a statement on X (formerly Twitter), expressing a different opinion about Blast’s decision to launch a bridge before its Layer 2 network and not allow withdrawals for three months. Robinson wrote, “We believe this sets a bad precedent for other projects.” He added, “Most marketing activities undermine the efficiency of serious teams.”

Robinson pointed out that LianGuairadigm has contacted Blast about its concerns and emphasized that there are still “many disagreements” between the two companies.

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Despite the criticism, the research lead also acknowledged that Blast’s team consists of “world-class builders” with the ability to “create great products.” The governance structure of Blast is still unclear, as is LianGuairadigm’s role in the decision-making process of the startup company. According to Robinson:

“We invest in strong, independent founders, and we don’t always agree with their views. But we understand that people may expect us to set an example for best practices in cryptocurrency. We do not support this strategy and take our responsibility in the ecosystem seriously.”

LianGuairadigm is not the first company to show interest in Blast’s recently released product. Jarrod Watts, Developer Relations Engineer at Polygon Labs, stated that centralization of the network brings significant security risks.

In addition, Watts pointed out that Blast is only 3/5 multi-signature, which means that if an attacker gains access to the keys of three-fifths of the team, they can steal all the cryptocurrencies deposited into the Blast contract.

Watts also claimed that Blast is “not Layer 2” but simply “accepts user funds” and “invests user funds into protocols like LIDO” without using any bridges or testnets. Furthermore, he criticized the lack of withdrawal functionality. To withdraw in the future, users must trust that developers will add withdrawal functionality.

Despite the controversy surrounding its launch, Blast has accumulated over $555 million in total locked value (TVL) since its launch a few days ago. The protocol claims to be the “only Ethereum L2 with native earnings in ETH and stablecoins.” Airdrops are planned for January.

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