Some new thoughts on Blast: Is it necessary for the average player to play?

Author: NingNing, Senior Researcher, EMC Fund Source: X @0xNing0x

1.Blast’s current state is just a pure scoreboard, and the official website doesn’t even have technical documentation, even if the Blast mainnet is successfully deployed in February 24, it will be widely questioned and criticized by the Ethereum community because the ultimate security of the assets is not guaranteed by the Ethereum mainnet.

2.The core logic of Blast’s sudden popularityThere are two:1. Bubble up for Blur’s old integral plate;2. Provide an opportunity for giant whales to get on the bus;

**3.The nature of the Blast airdrop is not a “black slave” revolution, but a capitalist carnival. **In the past, the biggest beneficiaries of L2 airdrops were ordinary wool parties and wool studios. The biggest beneficiaries of the Blast airdrop will be whales and community leaders;

4. We can create a simple model to estimate the profit and loss ratio of participating in Blast.

At this stage, participating in BLAST, that is, locking Ethereum in the multi-signature smart contract of Blast until February 24, the biggest cost of this investment behavior is the opportunity cost.

We can choose any 5 targets from the top 100 cryptocurrencies to form a portfolio, and use its potential yield as the opportunity cost of participating in Blast.

If the current market continues into Q1’24 as most of the market expects, the potential return of this portfolio will not be less than 50%.

And according to Paradigm’s previous successful incubation of Blur Season 2 and Friend Tech’s experience, the majority of participants have yields well below 50%

Therefore, participating in Blast is not cost-effective for ordinary players, so it is better to buy the above portfolio directly. Blast is an that belongs to whales and community leaders.

5. The core purpose of Iron Mountain’s launch of Blast is to find a receiver and eliminate bubbles for Blur’s airdrop last week. In order to achieve this goal, he did not hesitate to destroy the funding structure of BLAST. Too many people (24,000 unique wallet addresses) poured in on November 21st. This is very unfriendly to the community leaders, and exponentially increases the difficulty of their CX and attracting new users. This is also reflected in today’s data, where only 220 unique wallet addresses participate in BLAST.