Polkadot Rocked By Explosive Claims Of Discrimination From Manta Network Co-Founder

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As a researcher with experience in the blockchain industry, I find the recent accusations against Polkadot deeply concerning. The allegations of discrimination and toxicity within the ecosystem, particularly towards Asian developers, are serious and warrant immediate attention from the Polkadot team. The lack of representation at the Hong Kong Polkadot Academy event is just one example of this issue.

Amidst increasing debate and controversy, the Polkadot blockchain platform finds itself under scrutiny due to allegations of bias and unpleasant behavior within its community. Additionally, there are worries about a potential financial crunch looming over its Treasury.

Polkadot Criticized For Neglecting Asian Developers 

Victor Ji, one of Manta’s co-founders, expressed his concerns on social media recently. In a harsh critique, he pointed out that the Polkadot Academy event held in Hong Kong in February had very few Asian attendees, making up under a quarter of the total participants. Despite being situated in Asia, this representation disparity was a significant issue for Ji.

Ji claimed that during his encounter with Polkadot co-founder Gavin Wood at the event, he brought up the topic of Manta Network. Surprisingly, Wood showed enthusiasm towards the project without knowing that Manta’s mainnet had already been launched.

As a crypto investor, I believe Ji’s findings suggest that our geographical location is the reason for the disparities we face in the market, rather than our personal efforts or performance.

The Manta co-founder stated that the “OneBlock” organizer had contacted the Polkadot team for days without a response despite their messages being read on Telegram’s social media platform. 

Ji strongly underscored the significance of this financing for developer groups in economically developing nations. He committed personally to contributing $80,000 towards assisting builders who are departing from the Polkadot community.

In addition to the ongoing debate, Ji made some strong criticisms against the Polkadot ecosystem. He labeled it as “toxic” and questioned its significance for the web3 community. Furthermore, he accused the Polkadot team of being ineffective and not genuinely decentralized.

Ji went on record voicing his displeasure over the Polkadot team’s lack of emphasis on aiding builders within their ecosystem. As a result, Manta Network decided to shift gears from developing on the Polkadot parachain and instead concentrate on Ethereum Layer 2 projects.

Fueling Fears Of Potential Insolvency

At a critically difficult moment for Polkadot, accusations of discrimination and toxicity surface, compounding challenges as the network’s Treasury grapples with a possible funding shortage.

According to a report published on NewsBTC on Monday, the financial statements for Polkadot’s treasury during the first half of 2024 show that they expended a sum of $86 million while overseeing assets valued at $245 million (38 million DOT), with approximately $188 million (29 million DOT) held in liquid form.

The high rate of expenditure suggested that the Treasury could run out of funds within the next two years if spending habits remained unchanged. This revelation has set off alarm bells among the Polkadot community, who are now keeping a close eye on developments and advocating for more openness and financial prudence from the platform’s management.

As a crypto investor, I’m keeping a close eye on the ongoing challenges facing Manta’s blockchain platform. The community is anxiously awaiting how the team will address the accusations of discrimination and toxicity, as well as the potential risk to their financial stability. Unfortunately, there has been no public statement from Manta’s co-founders regarding these allegations.

Polkadot Rocked By Explosive Claims Of Discrimination From Manta Network Co-Founder

Currently, DOT is priced at $6.370 during this writing session, marking a 1.3% increase within the past 24 hours. The overall market is rebounding after a significant downturn that occurred the previous week.

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2024-07-03 01:41