TechFlow reports that in response to the news "Polkadot treasury spent $87 million in six months," Victor Ji, co-founder of Manta Network, criticized the Polkadot ecosystem and its team in a post on X. As the founder of one of the previously highest TVL and market-cap projects within the Polkadot ecosystem, he expressed deep disappointment with Polkadot's ecosystem and team, stating he no longer wishes to engage with them.
Victor Ji pointed out that the Polkadot ecosystem is highly toxic, delivers no real value to Web3, and shows little concern for users or adoption. He also noted that Polkadot has disproportionately funded European and U.S.-based projects compared to Asian ones. As an Asian founder, he said they have faced discrimination within the ecosystem—a sentiment widely shared among other Asian founders.
victorji.eth further stated that the Polkadot team lacks competence and genuine decentralization, fails to effectively support developers, and that the entire ecosystem is essentially stagnant. They have now shifted their focus entirely to the Manta Pacific project and encourage more developers to choose more active ecosystems such as Solana, Ethereum, and Bitcoin.
Previous report, Polkadot's treasury disbursed $87 million in the first half of the year, with remaining funds expected to last about two more years.
