According to Odaily, Yearn's core developer, banteg, has criticized LayerZero's forced donation practice, likening it to a beautified Initial Coin Offering (ICO). In a post on platform X, banteg called for a halt to mass funding of Protocol Guild, arguing that it has already successfully attracted substantial funds and that support should be directed towards smaller initiatives.
Banteg's comments come in the wake of LayerZero's controversial fundraising strategy, which has been likened to a forced donation. This approach has drawn criticism from various quarters, with some stakeholders arguing that it resembles a beautified ICO. ICOs, a form of crowdfunding for cryptocurrency projects, have been subject to scrutiny and criticism due to their potential for misuse and lack of regulation.
In addition to criticizing LayerZero's fundraising approach, banteg also called for a halt to the mass funding of Protocol Guild. According to him, the Guild has already successfully attracted a significant amount of funding. Instead of continuing to pour resources into this already successful initiative, banteg suggests that support should be redirected towards smaller, less well-funded initiatives. This, he argues, would help to diversify the funding landscape and provide opportunities for a wider range of projects to succeed.
