👋 DeGods and y00ts are bridging off Solana
To Ethereum and Polygon
Hey Waivly Crew! 🌊 We're super excited to share that we're refreshing our specials from today. The new schedule is now Monday as our Creator Special, Tuesday as our Venture Special, Wednesday as our Web3 Special, Thursday as our Crypto Special, and Friday as our NFT special.
The Creator Special will highlight incredible founders and creators throughout future-led spaces, the Venture Special will feature amazing startups and businesses similarly throughout future-led spaces, and the Web3, Crypto, and NFT Special’s will spotlight the hottest topics in each of the spaces. As always, these specials run alongside our usual content and are solely spotlighted sections of Waivly editions.
Degods and y00ts are bridging off Solana
NFT firm Dust Labs is migrating its two leading Solana NFT projects — DeGods and y00ts — onto Ethereum and Polygon in a bid to expand their adoption.
According to the announcement, in Q1 of 2023, DeGods will bridge over to Ethereum, while its sister project, y00ts, will move to Polygon with a grant from the layer 2's partnership fund.
The move will also see $DUST — the native token of the DeGods ecosystem — be bridged to both Ethereum and Polygon.
“There’s an argument to be made that [DeGods] has capped out on Solana,” said Dust Labs co-founder Frank in a Monday Twitter Spaces. “It’s hard to accept, but it’s been tough to grow at the rate we want to grow. If Ethereum is where we have to go to keep growing, it’s what we have to do.”
Details of the migration will be announced at a later date.
Octopus Network lays off 40% of team
Octopus Network, a decentralized app chain network built on NEAR Protocol, has announced that it will be "refactoring" to adapt to current market conditions.
As part of the process, Octopus Network will let go roughly 40% of its core team, which accounts for 12 out of 30 members. The remaining staff will accept a 20% salary cut, while its team token incentive will be suspended indefinitely.
While announcing the core team refactoring, Louis Liu, the founder of Octopus Network, said while he has experienced two previous crypto winters, this one “is very different from the others.”
Liu said that he expects this current “crypto winter will last at least another year, perhaps much longer,” adding that “most Web3 startups will not survive.”
In addition to layoffs and pay cuts, Oculus Network plans to "condense operations and focus on building in the next year.”
This will include connecting various appchains, including those built on Substrate or Cosmos SDK, to Inter-Blockchain Communication Protocol (IBC) enabled blockchains.
Octopus Network is not the first Web3 firm to cut staff amid the current crypto winter. Earlier this month, crypto exchanges Kraken and Bybit both laid off 30% of their workforces.
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