Other blockchains are trying to hire away Terra’s developers, leaving millions of dollars on the table
Terra used to be highly regarded for the quality of its developer community and the variety of innovative projects they were able to produce, but recently, things have started to fall apart. The gems in the debris are waiting for Terra’s programmers at other rival blockchains.
Developers working on Terra-related products have put their work on hold as they wait for further information on the network’s future. Two blockchains, Polygon and Kadena, have volunteered to set up a fund for Terra developers who have been caught in the midst of the collapse.
However, the CEO of the Kadena Eco, Francesco Melpignano said that the action wasn’t a plot to “dance on people’s graves,” but rather a “defining moment” for the blockchain business.
Layer-2 Ethereum solution Polygon provided a fund to support sad Terra devs. In order to “ensure that developers aren’t feeling hurried to decide,” the blockchain said it would not reveal how much money was in the fund.
A multi-million dollar fund has been set up to assist Terra creators “keep on their feet and move,” Polygon Studios CEO Ryan Wyatt stated. We witnessed the terrible collapse of Terra, which left many developers without a home, and Terra’s failure should not penalise the decentralised apps (DApps) developed on it. “
As of now, Polygon has over 19,000 DApps created on the platform. It also boasts one of the fastest-growing TVLs in the industry. It was Wyatt’s recommendation for developers who were contemplating making the jump to the Ethereum Virtual Machine (EVM). Do Kwon, Terra’s co-founder, previously said that he would battle to the death for Terra’s “value ecosystem” on the new blockchain.
a scarcity of crypto professionals
Cryptocurrency has a problem, and Terra’s programmers are a manifestation of that issue. Web 3 has a severe shortage of developers, and companies are having difficulty finding qualified candidates to fill open positions.
It’s been a bump in demand for engineers who have worked with the Terra blockchain before, says Dan Eskow, founder of Up Top, a hiring service. Employers are looking past UST’s inability to make their decision, he says.
It’s not their work that’s a reflection of their failure, and there are countless projects with less baggage that would employ them in a heartbeat,” Eskow added.