“We wanted to offer as much assistance as we could,” Polygon CEO Fwiz said following the collapse of the Terra ecosystem, on CoinDesk TV’s “First Mover” program. _franvela reports
“We would benefit from this space no longer participating and having a platform around that has had some of those catastrophic mistakes,” Wyatt said. “I’m not a huge supporter of relaunching something just a couple of weeks later, after all the people that were hurt in this fiasco.”
Although Wyatt said he’s indifferent about what Terra 2.0 does next, he said he doesn’t necessarily see bailouts, like those issued during the banking and housing crisis of 2008-2009, as the right answer, especially if the risks were “well known and well stated.
Nailwal added that scalability problems were bound to happen with most layer 1 platforms, saying that “Ethereum is the only proven, battle-tested layer 1 solution out there.” Polygon is a layer 2 system built atop Ethereum. Wyatt said, “It will be very difficult for them [Solana] to capture anything outside of PFP [profile picture] NFTs if they’re going to continue to have these levels of outages and be centralized.”
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