Rival blockchain projects seek talent from Terra developers

The collapse of the Terra ecosystem, including most of its applications and protocols, has created a diaspora of developers from which opportunistic blockchain companies look to snap up talent.

Polygon, one of the largest blockchains Total value locked (TVL) is actively seeking Terra developers to add valuable expertise and support to their work.

Polygon has launched a “relatively uncapped multi-million dollar fund” aimed at attracting Terra developers to migrate to Ethereum sidechain scaling solutions, according to Polygon Studios CEO Ryan Wyatt spoke on TechCrunch over the weekend.

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

Developer fund to be backed by $450 million Polygon proposed this February From Sequoia and other investors.

VeChain, an enterprise-grade Layer 1 smart contract platform, has also publicly reached out to Terra developers. Former Terra developers who suddenly have more time on their hands can apply for grants and receive up to $30,000 if accepted to start building on VeChain, the platform said on Twitter earlier this month.

Grant funds will be 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 attract any Web3 developer to its ranks.While it didn’t specifically mention the Terra developers, it announced the fund in a Friday tweet Call to “blockchain developers affected by recent events in the Web3 space,” suggesting it’s attracting Terra developers.

Kadena hopes its grant program supply Incubators, accelerators, R&D support and access to venture funding would be a sweet enough jar to attract former Terra developers.

related: South Korean authorities have reportedly investigated the staff behind Terra

Although Terra 2.0 has been released, the wider ecosystem, including Terra Classic, is still suffering from various disasters.mirror agreement suffer from persistent Exploited because the price of Luna Classic (LUNC) did not match the new LUNA token.

Validators on the old chain verified the price broadcast by the price oracle, which allowed attackers to steal over $2 million by exploiting and draining multiple mining pools on synthetic asset protocols.