Blast L2 TVL valued at over $830M Upgrade announcement by Paradigm via U.Today

U.Today – New agricultural venture Blast, which has raised more than $830 million in deposits, is working with lead investor Paradigm to dispel controversial stories. Here’s how they plan to do it.

Blast L2 gets a major upgrade. “To set a better precedent,” said Paradigm’s Dan Robinson.

Dan Robinson, cryptocurrency expert is general partner and head of research at cryptocurrency heavyweight VC Paradigm. Announcing advances in Blast’s technical design, the protocol will move to a new, upgraded system next week, it said yesterday, December 8.

This new upgrade system has been open source from the beginning. He stressed that it could be used by projects interested in “simulating” Blast. Robinson attached two GitHub gist links to the contract update. LaunchBridge.sol

In particular, the functions of withdrawal and loss of points are affected. As Paradigm’s GP explains, this upgrade aims to “create a better model.”

As U.Today previously reported, Blast was criticized for violating the L2 narrative by promoting a “single-node sidechain” for an Ethereum-based blockchain.

TVL explodes through the roof: fastest growing L2?

Additionally, token designs are attacked by the uncertain rewards that most liquidity providers attract.

However, the criticism failed to stop Blast from reaching new highs in terms of total value locked (TVL), and to date, LPs have pumped more than $838 million into USDC, DAI, and (ETH) equivalents, according to the Shown by DefiLlama Tracker. .

Most of this money was injected on the first day of Blast’s public beta launch into the Dune Analytics dashboard, and the 21Shares Blast cryptocurrency investor network is the fastest growing network. Emphasizing that it cannot be considered a solution to scaling the second layer:

DefiLlama Also Blast is a productivity farming app, not a separate L2 blockchain based on Ethereum (ETH).

This article was originally published on U.Today.