Polygon co-founder addresses criticisms the project is just as bad as Solana

Polygon co-founder Sandeep Nailwal went connected the defence against “ecosystems who are feeling defeated & jealous.”

The remark was motivated by a tweet from Mert Mumtaz, the co-founder, and CEO of Helius Labs, who pointed retired Polygon had received much VC wealth than Solana and had utilized the backing to “pay radical to usage the concatenation and get companies.”

Polygon has received implicit 130M much successful backing than Solana

Polygon uses the wealth to wage radical to usage the concatenation and get companies

Solana uses it to amended the tech and physique the assemblage and has *thousands* of much nodes

do with this accusation what you volition pic.twitter.com/ZOG6vs63hR

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

Helius creates exertion programming interfaces (APIs) to simplify on-chain information for Solana developers. The thought down this is to marque Solana task improvement quicker and much efficient.

Polygon is worse than Solana, claims Mumtaz

Since the FTX collapse, the communicative astir Solana has taken a large hit.

Former FTX CEO Sam Bankman-Fried (SBF) had backed Solana to usurp Ethereum. This extended to SBF processing the SOL-based Serum DEX to bolster the chain’s scope and appeal.

Bankruptcy filings amusement the speech held $982 million worthy of SOL connected its equilibrium sheet. However, the precocious appointed CEO John Ray III, who was brought successful to “clean up” the company, said the implicit nonaccomplishment of firm controls helium inherited meant helium lacked confidence in the accuracy of the fiscal statements.

Mumtaz thought it applicable to constituent retired Polygon had received $50 million from FTX’s sister institution Alameda, yet does not endure the aforesaid put-downs arsenic Solana.

What’s more, connected the superior criticisms leveled astatine Solana, including its struggle of involvement via VCs and centralization issues, the concern is overmuch worse erstwhile the aforesaid arguments are applied to Polygon, said Mumtaz.

it's absurd that someway Solana gets painted arsenic the centralized VC concatenation portion Polygon virtually has 1) 10x the VC engagement 2) has thousands of little validators 3) tin virtually beryllium stopped by the halfway squad astatine immoderate clip 4) inactive has overmuch little TPS portion being 100x much centralized

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

Nailwal disagrees

In effect to Mumtaz, Nailwal said “Polygon won” not due to the fact that of wielding VC wealth to bargain favor; instead, it “won” due to the fact that of the “power & propulsion of Ethereum.”

He said that entities privation to physique connected Ethereum, “not connected half-baked L1s.” Put simply, Polygon’s attraction boils down to it providing entree to the Ethereum chain.

Addressing the substance of VC influence, Mailwal said investments were made astatine a clip erstwhile Polygon was valued astatine $8 billion. This meant VCs controlled astir conscionable 5% of the MATIC token supply.

The thread ended with Nailwal conceding that nary ecosystem is perfect. But helium prefers to absorption connected improving and encouraging others, alternatively than bad-mouthing the competition.

The station Polygon co-founder addresses criticisms the task is conscionable arsenic atrocious arsenic Solana appeared archetypal connected CryptoSlate.