Pacman, founder of Blur, announced on X platform that the new L2 network Blast has garnered over $443 million in TVL and has 52,836 users within four days of its launch.

Pacman, the founder of Blur and Blast, posted on social media saying, "Paradigm has zero involvement with Blast. To be frank, if they were involved, they might ask me to make a lot of changes to the release of Blast. In fact, some of Paradigm's suggestions are actively being considered, but Paradigm has left the final decision-making power of the suggestions to the entrepreneurs they work with, which is one of the many reasons why I like working with their team."

Blast stated on social media that security involves multiple aspects, including smart contracts, browsers, and physical security. Immutable smart contracts are generally considered more secure, but may bring greater risks, especially in complex protocols. Upgradeable contracts are important, as they provide solutions for vulnerabilities, despite the potential for loopholes. Each signature key in the multi-signature setting is independently secure, stored in cold storage, managed by independent parties, and dispersed geographically. This approach aims to enhance the protocol's ability to resist various security threats. They plan to switch one of their multi-signature addresses to a different hardware wallet provider within a week to enhance security. This is to prevent reliance on a single type of hardware wallet, thereby reducing the risk of damage due to specific hardware vulnerabilities.

In just four days since its launch, the Blast network has accumulated over $400 million in total value locked (TVL), according to DeBank. However, concerns have been raised by a developer relations engineer at Polygon Labs, Jarrod Watts, who claims that the network's security risks are due to centralization. Watts argues that the Blast network is less secure and decentralized than users realize, as it is just a 3/5 multisig. The Blast team has responded to the criticism, stating that the network is as decentralized as other layer-2s, including Optimism, Arbitrum, and Polygon, and that user funds are kept in cold storage managed by an independent party and separated geographically. However, the network has faced criticism for having upgradeable contracts, which was also a problem seen in the Stargate bridge, and was exploited in December 2022 when a former employee hacked into the developer's database to upgrade the smart contract and create 20 trillion Ankr Reward Bearing Staked BNB.

As monitored by Lookonchain, a total of 182,757 ETH (approximately $383.7 million) has been deposited into Blast, which will be locked until February 24th of next year.

According to DeBank data, the total value of assets held in the contract address of Blast, a Layer 2 network launched by Blur founder Pacman, currently exceeds 400 million US dollars. Among them, assets worth about 350 million US dollars are deposited in the Lido protocol, 52.97 million US dollars are stored in the Maker protocol, and about 560,000 US dollars are in the wallet.

On November 24th, according to DeBank data, the Blast contract address for Layer 2 network created by Blur founder Pacman currently holds assets worth more than 400 million US dollars, currently at 403,383,538 US dollars.<br>Among them, 346 million US dollars worth of ETH are deposited in the Lido protocol, and 52.97 million US dollars are deposited in the Maker protocol.

According to official sources on November 24th, Blast has been included in the Discover section of the OKX Web3 wallet and is displayed in the popular DApp section on the homepage. Users can access Blast through OKX Web3's PC, web, or app platforms. Blast is a Layer2 network based on Optimistic Rollup and is the only Ethereum Layer2 with native earnings in ETH and stablecoins, launched by the founder of Blur.

According to official sources, on November 24th, the option and perpetual contract trading protocol Aevo went live on BLAST Pre-Launch Futures (futures), with a temporary price of 1.271 US dollars.<br>On November 21st, the founder of Blur launched the Layer 2 network Blast, which completed a $20 million financing round, with participation from Paradigm and Standard Crypto.

Blockchain data analysis company Bitrace has issued a warning on X platform to be cautious of the Blast phishing contract. Victims have already reported cases of fraudsters impersonating Paradigm founder Matt Huang to promote the phishing link blast.invie[.]io, resulting in a loss of over $130,000 in funds.