Manta Co-founder: Polkadot is “Highly Toxic”

The Polkadot blockchain ecosystem is facing criticism over its treatment of projects led by Asian founders. 

Victor Ji criticizes the Polkadot ecosystem as “highly toxic” and reveals discrimination faced by Asian founders, sparking discussions about inclusivity and collaboration within the blockchain community.

As the founder of the previous largest (non-DOT) TVL and market cap/FDV project in the Polkadot ecosystem, I have to say that we do not want to engage with the Polkadot ecosystem and team at all. It is a highly toxic ecosystem that lacks any real value for web3, and it does not… https://t.co/YxAPF1CYC9

— victorji.eth EthCC (@victorJi15) July 2, 2024

Polkadot Faces Criticism Over Asian-led Projects

Ji, who previously led the largest non-DOT TVL and market cap/FDV project within Polkadot, expressed deep frustration with the environment, citing a lack of real value for web3 and a failure to focus on user adoption.

He further reiterates the discrimination Asian founders have encountered in the ecosystem. While the details of this controversy have not been revealed, it has sparked a larger conversation about inclusivity in the blockchain community as Asian project leaders claim they face extra hurdles, raising concerns about the support and funding processes within Polkadot.

Reports suggest these projects encounter unfair practices and a hostile environment, unlike their Western counterparts.

Manta Launches $50M Ecosystem Fund

Starting June 15th, Manta will allocate $50 million for its EcoFund Program to support grants and direct investments. The program aims to foster projects that use zero-knowledge (ZK) proofs, a cryptographic protocol that allows anonymous transactions in cryptocurrencies.

Polkadot, the decentralized blockchain protocol, has announced an upcoming Ledger-based mobile app for DOT users. According to an X post on June 28, the new app will integrate Ledger, allowing users to access the Polkadot ecosystem.

After an almost unanimous vote from the Polkadot community, the Polkadot team took to X to announce that the proposal for the JAM Protocol Upgrade was approved. This announcement comes after the platform recently celebrated its fourth anniversary.