The migration of the y00ts project from Solana to Polygon has sparked intense debate within the crypto community, with some y00ts holders expressing their dissatisfaction over liquidity issues on the new platform. Twitter has been abuzz with the backlash, with users 0xSxlty and payrollstevie among those voicing their concerns.
The Move from Solana to Polygon
The y00ts project, known for its vibrant community under Dust Labs, recently made the strategic decision to migrate from Solana to the Polygon blockchain. The move was driven by a $3 million non-equity grant for y00ts to move from Solana to Polygon, giving the Dust Labs team more funds to expand and foster their products.
However, some holders have found the transition less than ideal, with growing concerns over the impact on the market liquidity of their prized y00ts citing a lack of buyers. Will the Polygon ecosystem really be the best ecosystem for y00ts to truly thrive?
Community Members Air Their Frustrations
In a tweet today, user 0xSxlty pointed out the frustrations faced by y00ts holders, highlighting the lack of liquidity on Polygon compared to Solana. The seller constantly under floor for 16 hours, but failed to find any eligible buyer.
Another y00ts holder vocalized his concerns with a similar issue on a Twitter post, calling the liquidity "polygone," and that the lack of buyers "is insane." The user believes that if he kept his y00t on Solana, he could have sold it in "30 minutes max."
Potential Consequences of the Migration
The growing concerns over liquidity on Polygon could lead to a drop in the value of y00ts, as holders may be forced to sell their digital collectibles at lower prices to attract buyers. The problem is further exacerbated by the fact that Polygon's NFT ecosystem is fairly dry when compared to Solana. Solana regularly has more users, higher volume, and a more diverse NFT ecosystem than what currently exists on Polygon today.
However, it should be noted that DeGods founder has historically proven ecosystems, individuals, and other collections wrong with his bold decision-making. Even before y00ts migrated, Frank released a Twitter post addressing concerns and for his holders to have faith in the journey.
"I know that this is a risk. I don’t know what’s going to happen today, tomorrow or throughout the first few weeks. But I know we’re going to make it work.
I know we’re going to do what we have to, to win.
The short-term might be out of our control, but the long-term is completely in our entire community’s control."
While the decision to move from Solana to Polygon was rooted in the potential benefits offered by entering a new ecosystem with a large grant, the y00ts project now faces the challenge of addressing the unforeseen consequences of this migration. Ensuring market liquidity and restoring holder confidence will be crucial for the project's continued success. With the right strategy and support from the community, it is possible for y00ts to overcome these obstacles and thrive on the Polygon network.