The team behind y00ts and DeGods has been awarded $3 million to move their Solana groups to Polygon, according to a Jan. 6 announcement from the company. The statement was made on Discord and transcribed on Twitter by Frank III, the founder of both projects.
—Frank III (@frankdegods) January 6, 2023
The developers had announced earlier on December 27 about the two projects It will be transferred to Polygon . This was widely seen as a potential deathblow for the Solana network, as the network was already under stress from the fallout from FTX’s collapse. However, there was no evidence at the time that the y00ts had received any money for the move.
Is Solana dead?
– Ben Armstrong (Bitboy_Crypto) December 26, 2022
Vitalik Buterin has since argued the allegations relating to Solana’s death It can be overdone .
Related: Polygon is partnering with Warner Music and LGND to create a Web3 music platform
In this new statement from Frank III, y00ts founder and DeGods state that the team got more money than they did from the Polygon deal, but they decided to partner with Polygon anyway because it would be the best platform for projects. Frank also attempted to respond proactively to criticisms that might arise from disclosing the compensation received, saying:
“We don’t take this deal for the money. That’s just a nice bonus and we’ll put it to good use. We did it because it’s the most exciting direction of the y00ts project. Also, if you’re really upset – all I’m asking is channel that energy into real questions before automatically assuming the worst.”
Frank III has also stated that he “wouldn’t buy any Lambos” with the money. That is, the team will not use the money for its own consumption. Instead, the money will go towards hiring new staff for “business development, graphic design, content creation and event coordination,” which he says will allow the projects to gain more mainstream acceptance.
In the meantime, Solana may have recovered from the drain of y00ts and DeGods, at least for the time being, as meme coins as Bonk Business activities attract Return to the platform.