The collapse of the Terra ecosystem, which included most of its applications and protocols, has created a diaspora of developers from which blockchain opportunists hope to draw talent.
polygonalone of the largest blockchains by total value locked (TVL), is actively seeking Terra developers to lend valuable expertise and support to its efforts.
Polygon has launched a “relatively uncapped multimillion dollar fund” designed to entice Terra developers to migrate to Ethereum’s sidechain scaling solutionaccording to Polygon Studios CEO Ryan Wyatt speaking to TechCrunch over the weekend.
Wyatt added that he wanted the fund to be large enough to ensure it could accommodate any developer from the failing blockchain ecosystem..
The developer fund will be backed by the $450 million Polygon raised in February of Sequoia and other investors.
The enterprise-grade smart contract platform VeChain has also publicly reached out to Terra developers in general. The platform tweeted earlier this month that former Terra developers who now had a lot more time on their hands could apply for a grant and win up to $30,000. if they were accepted to start building on VeChain.
#Moon_Terra #Developers if you’re looking to migrate #Layer1we’re offering up to $30k to help!#VeChain is a leading enterprise-grade public #blockchain100% uptime, #Sustainable & rapidly growing in the EU.
Join us & #buildl the future! DM open https://t.co/NloutqKBwX$MOON
— VeChain Foundation (@vechainofficial) May 16, 2022
Luna Terra developers, if you’re looking to migrate to Layer 1, we’re offering up to $30,000 to help. VeChain is a leading, 100% uptime, sustainable and fast growing enterprise grade public blockchain in the EU. Join us and build the future! Direct messages are open https://t.co/NloutqKBwX$LUNA
Funding for the grants would come from the $1 million VeChain Foundation Grants Program that launched in February 2021..
Kadena’s layer 1 blockchain created a $10 million fund specifically to attract any Web3 developer. Although he doesn’t specifically mention the Terra developers, his Friday tweet announcing the fund I call to “blockchain developers affected by recent events in the Web3 space”which suggests that he is referring to the developers of Terra.
Kadena hopes that its grant programwhich offers an incubator, an accelerator, research and development support and access to venture funds, be a jar sweet enough to appeal to former Terra devs.
.@Kadena_io is committing $10MM to blockchain developers affected by recent events in the #Web3 space!
Along with these funds, Kadena provides grantees with the resources, strategic guidance & technical expertise needed to safely build on our blockchain!https://t.co/kXu47h7H9F pic.twitter.com/QteCBS9xDL
— Kadena (@kadena_io) May 26, 2022
@Kadena_io commits to contributing $10 million to blockchain developers affected by recent events in the Web3 space. Along with these funds, Kadena provides grantees with the resources, strategic guidance, and technical expertise needed to build securely on our blockchain. https://t.co/kXu47h7H9F pic.twitter.com/QteCBS9xDL
Although Terra 2.0 has been released, the ecosystem as a whole, including Terra Classic, is still reeling from various calamities. Mirror Protocol has been suffering from an ongoing exploit since the price decoupling of Luna Classic (LUNC) and the new LUNA token.
Old chain validators verified the price issued by the price oracle, allowing an attacker to steal more than $2 million by exploiting and emptying multiple pools on the synthetic asset protocol.
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