Blast: The Fullstack Chain ft. Pacman & Jenn

Summary

In this insightful discussion, Jenn interviews Pacman, the CEO of Arcade Research and a core contributor to the Blast Foundation, about the vision and progress of the Blast ecosystem. Pacman explains the distinction between Arcade Research and the Blast Foundation, akin to Ethereum's structure with ConsenSys. He delves into the importance of on-chain economies, the potential of Blast as a high-yield full-stack chain, and the strategic use of incentives to drive organic growth and development. The conversation highlights the transformative potential of Blast in creating a more efficient and user-centric financial system.

Takeaways

• 🌟 The Blast Foundation and Arcade Research have distinct roles similar to the Ethereum Foundation and ConsenSys, with the Foundation overseeing the ecosystem and Arcade Research developing infrastructure.
• 🚀 Phase 2 of the Blast ecosystem has begun, building on the success of Phase 1, which saw rapid growth and adoption.
• 💼 Pacman's background includes starting in Silicon Valley as a software engineer, founding companies through Y Combinator and the Thiel Fellowship, and eventually selling Namebase to Namecheap.
• 🔥 After selling Namebase, Pacman and his co-founder focused on NFTs and created Blur, which became a leading NFT marketplace, before starting Blast.
• 🌐 Blast's growth to the 6th largest chain was not specifically anticipated but was directionally expected due to its unique value proposition as a high yield on-chain economy.
• 🏦 The concept of a full stack chain versus an L2 is emphasized, with Blast aiming to provide an integrated experience similar to Apple's approach, rather than the fragmented Android model.
• 💡 The value of on-chain economies lies in global liquidity, permissionless transactions, and the ability to align incentives through token creation, ultimately leading to a more efficient financial system.
• 💰 Incentives in the Blast ecosystem are designed to drive coordination and positive systemic outcomes, rather than just short-term marketing effects.
• 🏗️ Arcade Research is focused on developing key infrastructure components like wallets to improve the user experience and enable new on-chain experiences.
• 🌱 The Blast Foundation aims to accelerate the growth of the on-chain economy by coordinating community efforts and using incentives to support builders and users in unlocking latent value.

Q & A

What is the relationship between Arcade Research and the Blast Foundation?

Arcade Research and the Blast Foundation have a relationship similar to that of the Ethereum Foundation and ConsenSys. The Blast Foundation is responsible for sharing the Blast vision and acting as stewards of the ecosystem, while Arcade Research focuses on developing infrastructure to support the Blast ecosystem.

What was the background of Pacman before his involvement with Arcade Research and the Blast Foundation?

Pacman started his career in Silicon Valley as a software engineer at the age of 16. He later founded his first company and went through Y Combinator at 17. He attended MIT to study math and computer science but left to start another company, Namebase, which was later sold to Namecheap. He then co-founded Blur, an NFT marketplace, before starting the Blast project.

What is the significance of Phase 2 in the context of the Blast ecosystem?

Phase 2 marks the beginning of a new phase in the development of the Blast ecosystem. It involves further growth and expansion, with the aim of making Blast one of the fastest-growing L2s and eventually becoming the 6th largest chain.

How does Pacman view the concept of a full stack chain versus an L2?

Pacman views a full stack chain as an ecosystem that focuses on optimizing the end-to-end user experience, rather than just the chain itself. He compares it to the difference between Android, which relies on third-party devices, and Apple, which integrates hardware and software to create a seamless user experience.

What is the role of incentives in the growth of the Blast ecosystem?

Incentives play a crucial role in coordinating the network of participants to develop the ecosystem. They are designed to support the growth of the on-chain economy by attracting users and developers and encouraging them to contribute to the network.

How does Pacman differentiate between organic and inorganic activity in the context of incentives?

Pacman believes that incentives can be sustainable if they drive people into something that has retention and product-market fit. If the incentives are driving people into something that doesn't have retention, then they can mask a lack of product-market fit and lead to inorganic activity.

What are the unique building blocks provided by the Blast ecosystem?

The Blast ecosystem provides unique building blocks such as native yield and gas fee sharing. These features allow developers to create new business models and experiences that are not possible on other chains.

How does the Blast Foundation plan to achieve its long-term vision of 'unbanking the banked'?

The Blast Foundation aims to achieve this by building out a full stack chain that provides a seamless and efficient on-chain economy. This will attract users and developers, leading to a network effect that gradually brings more people onto the chain and reduces reliance on traditional financial systems.

What is the significance of the 'seasons' concept in the Blast ecosystem?

The 'seasons' concept allows for a semi-static incentive system that can be adjusted based on market behaviors and emergent needs. This approach enables the ecosystem to adapt and evolve, ensuring that incentives remain effective and aligned with the goals of the community.

How does Pacman view the role of crypto natives in the growth of the Blast ecosystem?

Pacman sees crypto natives as the early adopters who are crucial for building up the network. Their involvement helps to create a beachhead network that can then attract the early majority, leading to broader adoption and growth of the ecosystem.