BLAST: The Most Controversial L2 | Pacman

✨ DEBRIEF | Ryan & David unpacking the episode:
www.bankless.com/debrief-pacm...
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Pacman is one of the most interesting builders in crypto right now. After creating Blur, a disruptive NFT exchange, the crypto wonder kid is targeting the L2 space with his new yield bearing L2 called Blast.
In this episode, we cover Pacman’s story, how he built Blur, how he pioneered Points and finally, we get into Blast, the already third largest L2 in TVL.
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TIMESTAMPS
0:00 Intro
6:45 Pacman’s Story
24:40 Blast’s Perception
29:36 Blur
34:45 Points
47:55 Blast Genesis
54:35 Blast’s Native Yield
1:19:05 Yield Risks
1:23:15 Net Gas Revenue
1:26:00 Projects on Blast
1:30:12 Is Blast a Multisig?
1:32:51 Blast’s Vision
1:34:10 Blast on OP Superchain?
1:36:53 Closing Thoughts
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RESOURCES
Pacman
/ pacmanblur
Blast
blast.io
Pacman Blur’s Episode
• $BLUR AIRDROP with Blu...
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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets.
See our investment disclosures here:
www.bankless.com/disclosures

[@Bankless]

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[@clarencejones4717]

Ok. Interested. This is genuinely good reporting and content. Thank you.

[@seanmaguire834]

Blast seems really sketch ngl. He’s basically pumping up the tvl with an airdrop but nothing is actually production ready

[@kryptomokus1755]

Oh really? The Manta airdrop was sooo different. Numbers speak for themselves. He has beaten opensea first, now he built a chain and is infront of avax and optimism in only 4 weeks. Lol

[@cryptobotboi4459]

Yeah feels sketchy. I don’t trust any of the dapps that were thrown together fast. If they’re making such amazing promises and it seems too good to be true then it usually ends with a burn. I’m just starting watching now but do they cover why many bridges DONT have the option to bridge back off Blast, if it it does like orbiter, there’s a heavier fee than any other L2. That alone seems sketch.

[@Solami987]

Can't stand it, overhyped influencer driven bs

[@karrierossart]

Oh my, what a wonderful conversation... his knowledge and presence is confirmed in the speed with which he speaks, he just knows, believes, is his words. Amazing. I wasnt too excited about Blur, i'm still learning about Blast but i think i like this concept as if i understand correctly, its kinda like pay for using... but i need to dyor to be sure

[@AX1A]

For thought, and w/o judgement, I share the words of a wise teacher who said: "A fast mind is a sick mind"

[@RAGWT]

Great video guys and great person of interest

[@cryptoemcee]

Huge thanks!

[@PatrickAyelle]

Just re-watched the bankless SBF interview before watching this. I am 100% sure bankless will interview this cycle’s SBF. Let’s see how well this interview ages…

[@Lenskiu]

thank you for your time

[@timstone84]

Incredible guy❤❤❤

[@HeathWolfeld]

How is Blast different than using LSTs (e.g., sfrxeth or steth) as a trading pair? It feels like the future is most eth is staked, and LSTs become the paper receipts we use as money. Seems like the same outcome with less risk and more freedom.

[@envelop]

Wow, thanks, Bankless! Totally share Blast values with ecosystem participants. We started exploring Blast projects a couple of months ago, did some interviews with founders and published the review on our website. The main goal was to add Blast as another good L2 to the list of chains where out NFT wrapping protocol had already been implemented. And we managed it.

[@ryanwuzer]

wtf

[@WrestlingSimulations12]

Pacman is the #1 builder!

[@maxmusterman3371]

1:14:53 yet. Amazing how you show that you consider all options, even incorperating it into your language.

[@cryptobotboi4459]

Why did several bridges stop allowing people to bridge OFF the chain and the ones that still do it charge a huge fee? That’s not optics that’s fundamental. Also why native bridge 14 day delay?

[@Samsonit50]

Where can i buy this token? Thanx 😃

[@michaeltharpedu]

Blast is the L2 way. 🔥💯🤑

[@liperosden4606]

After this , 100x more bullish over BLAST :D

[@jontroop]

i should get points for watching this vid

[@brunomirandafiletti4915]

yeah pacmoon up only

[@TheBriansle]

Blast is where its at.

[@St4Jimmy]

it's a first time that I set the speed to 0.75X

[@heepajunk]

Totally avoided the multisig question

[@cryptobotboi4459]

Multisig question and being able to bridge back off Bladt are my main concerns.

[@trading8]

1:31:40 is where he addresses it.

[@ThaInfamousStitch]

We just wanna be the best yeild value yeild giving value bearing chain thst just offers the best yeild user value yeild bearing DO FUCKING NOTHING!!!

[@joeyp978]

Based

[@wayne8797]

I have my money on this kid. Just like how I bet big on Vitalik and ETH. These kids are just different. The talent in this space is insane yet you still have all the holdouts and governments push backs.

[@MUDDELMANN]

- Reallife Sminem in the team - Doxxed dev - Regular streams with Sminem on X - Massive meme portfolio - Around $2m MC only (how...?) - $OGSM

[@pizzadoe7922]

It is very ironic of Pacman to talk about exploiting "users" with points. Didn't he delay the release of Blue season 2 rewards?

[@stanislav5262]

Blast was hacked?

[@cryptobotboi4459]

Several times lol

[@vcoosc]

The guy who destroyed NFT's and only favour whales - Now blur and its unfair and stupid points system, how great is that

[@ernestod8998]

1) What

[@ThaInfamousStitch]

BANKLESS!! Are you actually going to fully commit to there being something unique or innovative about the first "native" completely free yeild. This is totally nothing like Luna if you just didn't have a stable coin, but still gave the best yield and it's completely sustainable

[@drewfisher4603]

Please, please stop saying ether staking is the risk-free rate. The whole point of staking is that there are attributable failures that result in slashing. Pacman could call it negative yield when slashing happens, but regardless, there is additional risk of loss when staking, period, full stop.

[@FeyDeFi]

He really fundraised all that money from paradigm with these communication skills

[@livelucky74]

wen blobs

[@BinHexOctal]

What exactly is controversial about Blast?

[@futureforward3153]

1. blur stole market share from open sea by removing royalty fees from NFT's and also setting up a token farming scheme that brought high volumes to nfts last year but may hurt collector artwork 2. blast chain lockup period forced users to lock eth and nft's assets for (undisclosed) amount of time - locking up assets gave you blast airdrop allocation 3. this lock up period also had "affiliate" type bonus allocation programs where large influencers would get others to lock up funds with their affiliate code creating a bit of a pyramid type thing controversy.. the tactics are questionable, but results were that blast and blur both created market interest .. blur was successful at delivering.. blast still tbd.

[@cwpv2477]

everything.

[@FeyDeFi]

It s a good ponzi scheme for money laundering tho

[@ThaInfamousStitch]

This is literally a fucking joke. Good work bankless

[@Midg-td3ty]

He intentionally fudged the numbers at the end to make his point stick and bankless didnt call him out. BTC to Eth is a 3x while Solana to Eth is a 4.5x NOT a 2x.. Why did you not say something also this tendency is worrying. I did not put a single cent on blast. While the idea seems enticing, I will not touch it.

[@JOS-367]

are you talking about market cap?

[@kyparus]

What does it change? Anyway, they don’t have graph in front of them during the podcast

[@Solami987]

Well if you're taking money from these guys or have a vested interest why would you bring it up

[@ThePlagueFrogZyyxxx]

Hey Pacman. What do you think about your point system incentivizing the influencer-grifters in the space? I don't believe you created Blur for the benefit of the traders. I believe you and your team created it because you wanted what the OpenSea team had... information. And information in(side) trading is money.

[@futureforward3153]

does anyone get mad at uniswap for incentivizing ppl to sell coins when uniswap gives trading fees for providing liquidity? attention and money/liquidity are both 0 sum games... competing for either one or both requires appealing to the selfish nature of ppl .. sometimes the methods to aquire attention and capital are not cool... but let's see what they can do with the resources now that they have it

[@ThePHATBASTURD]

Weewu killed my family smh

[@ronwarren9315]

Blast sucks! Hackerfill and money grab.

[@mikes-wv3em]

why does youtube recommend fake money scam vids?

[@hereafter79]

They don’t “recommend” them in but apparently the do allow them. Scammers have to pay for those ads so maybe they don’t care who they get their money from

[@Molecularjewelry]

the advertising is fucking annoying - can't you just make money staking ETH and stop bothering your audience...?