Competitors start recruiting talent from Terra developers

After the collapse of the Terra ecosystem (including most of its applications and protocols), speculative blockchain companies hope to recruit talent from the developers who left Terra.

Polygon (MATIC), one of the blockchain projects with the largest Total Value Locked (TVL), is actively recruiting Terra developers to add valuable expertise and support.

In an interview with TechCrunch over the weekend, Polygon Studios CEO Ryan Wyatt said Polygon launched a “relatively unconstrained multi-million dollar fund” aimed at luring Terra developers to migrate to the ethereum sidechain scaling solution.

Wyatt added that he hopes the fund will be large enough to ensure it can accommodate any developers from the failing blockchain ecosystem.

Polygon, which raised $450 million in February from Sequoia and other investors, will provide financial backing for the fund.

VeChain (VET), an enterprise-level layer-1 smart contract platform, has also publicly reached out to Terra’s vast number of developers. Ex-Terra developers who suddenly have more free time can apply for a grant of up to $30,000 if they are accepted to start developing games on VeChain, the platform said on Twitter earlier this month. income.

Funding will come from the $1 million VeChain Foundation Grant Program launched in February 2021.

The Kadena layer-1 blockchain has set up a $10 million fund specifically to entice any Web3 developer to join its ranks. While it didn't specifically mention Terra's developers, it announced in a May 27 tweet that the fund was calling on "blockchain developers affected by recent events in the Web3 space," suggesting it was courting Terra. developers.

Kadena hopes its program of offering incubators, accelerators, research and development support, and access to venture funds will attract former Terra developers.

Although Terra 2.0 has been released, the wider ecosystem, including Terra Classic, is still suffering from various disasters. The mirror protocol (MIR) has suffered from ongoing exploits since the price of Luna Classic (LUNC) and the new Luna token did not match.

Validators on the old chain verified the price broadcast by the price oracle, which allowed attackers to steal over $2 million by exploiting a bug and draining several pools on the synthetic asset protocol.