Polygon co-founder addresses criticisms the venture is simply as unhealthy as Solana

Polygon co-founder Sandeep Nailwal went on the protection towards “ecosystems who’re feeling defeated & jealous.”

The remark was motivated by a tweet from Mert Mumtaz, the co-founder, and CEO of Helius Labs, who identified Polygon had acquired extra VC cash than Solana and had used the funding to “pay folks to make use of the chain and purchase firms.”

Polygon has acquired over 130M extra in funding than Solana

Polygon makes use of the cash to pay folks to make use of the chain and purchase firms

Solana makes use of it to enhance the tech and construct the neighborhood and has *hundreds* of extra nodes

do with this info what you’ll pic.twitter.com/ZOG6vs63hR

— mert | Helius (🧱, ⚡) (@0xMert_) December 6, 2022

Helius creates software programming interfaces (APIs) to simplify on-chain information for Solana builders. The thought behind that is to make Solana venture improvement faster and extra environment friendly.

Polygon is worse than Solana, claims Mumtaz

Because the FTX collapse, the narrative round Solana has taken an enormous hit.

Former FTX CEO Sam Bankman-Fried (SBF) had backed Solana to usurp Ethereum. This prolonged to SBF creating the SOL-based Serum DEX to bolster the chain’s attain and attraction.

Chapter filings present the alternate held $982 million price of SOL on its stability sheet. Nevertheless, the not too long ago appointed CEO John Ray III, who was introduced in to “clear up” the corporate, stated the whole failure of company controls he inherited meant he lacked confidence in the accuracy of the monetary statements.

Mumtaz thought it related to level out Polygon had acquired $50 million from FTX’s sister firm Alameda, but doesn’t endure the identical put-downs as Solana.

What’s extra, on the first criticisms leveled at Solana, together with its battle of curiosity by way of VCs and centralization points, the state of affairs is way worse when the identical arguments are utilized to Polygon, stated Mumtaz.

it is absurd that someway Solana will get painted because the centralized VC chain whereas Polygon actually has 1) 10x the VC involvement 2) has hundreds of much less validators 3) can actually be stopped by the core group at any time 4) nonetheless has a lot much less TPS whereas being 100x extra centralized

— mert | Helius (🧱, ⚡) (@0xMert_) December 6, 2022

Nailwal disagrees

In response to Mumtaz, Nailwal stated “Polygon received” not due to wielding VC cash to purchase favor; as a substitute, it “received” due to the “energy & pull of Ethereum.”

He stated that entities need to construct on Ethereum, “not on half-baked L1s.” Put merely, Polygon’s attraction boils right down to it offering entry to the Ethereum chain.

Addressing the matter of VC affect, Mailwal stated investments have been made at a time when Polygon was valued at $8 billion. This meant VCs managed round simply 5% of the MATIC token provide.

The thread ended with Nailwal conceding that no ecosystem is ideal. However he prefers to give attention to bettering and inspiring others, moderately than bad-mouthing the competitors.