DeLabs has pledged to return the $3 million grant provided by Polygon Labs. The grant, initially intended to support the transition of the NFT project “y00ts” from Solana to Polygon, is now being returned as DeLabs shifts its focus back to Ethereum.
“We’re returning 100% of the grant provided by Polygon.
The funds will be re-deployed for NFT ecosystem growth to empower builders and creators.
We still love Polygon. It’s just time to unite the DeGods & y00ts communities.”
y00ts tweeted.
Y00ts, represented by the PFP of DeLabs, has undergone a number of changes, most recently switching from Solana (SOL) to Polygon in April and now to Ethereum (ETH). Although the y00ts migration date has not yet been revealed, it is anticipated to be done so “shortly.”
After DeGods, another project created by Los Angeles-based DeLabs, started moving from Solana to Ethereum at the beginning of April, the decision to migrate was made.
DeLabs creator Rohun “Frank” Vora said that it makes the most sense for y00ts to be on the same chain as DeGods. He said, “We tried our best to make it work, but we just need to bring our two communities together.
With a $3 million grant, Polygon Labs has helped y00ts expand and grow as a team. Polygon Labs will use $1 million of the grant money to support “Polygon-native builders and creators,” although y00ts has chosen to return the entire amount as part of the move.
Rohun Vora; Frank thanked Polygon Labs for y00ts:
In a message of goodwill, the DeGods project manager Rohun Vora, commonly known as Frank, thanked Polygon Labs for being a “truly incredible partner for y00ts” and stated that there is “all love” between the parties.
Although Polygon will reinvest the cash for the expansion of the NFT ecosystem, the choice has drawn criticism.
Although the majority of the community was in favor of the change, some worries have been raised about the NFT environment in Polygon possibly declining.
