DeGods NFT Founder Says, 'I Was Being a Pussy' for Leaving Solana During Its Crash

Reflecting on Past Decisions

In a recent X post, Rohun Vora, also known as Frank DeGods, founder of the DeGods and y00ts NFT project, opened up about the challenges and lessons he's encountered as a leader in the NFT space.

This candid reflection sheds light on the pressures of community expectations and the complexities of being a founder navigating tumultuous times.

Navigating Community Expectations Amid Turbulence

Frank candidly admitted to his past tendency to go to great lengths to appease the community during times of chaos, only to find that such efforts often backfired.

“I used to try to move mountains to appease the community in times of chaos. every single time it's backfired. The truth is, on the internet you either stand by your conviction or you're a pussy.”

Over the years, the DeGods team made numerous decisions aimed at pleasing their holders and sustaining interest in the project. This included multiple art changes, including both upgrades and downgrades, in an attempt to keep the community engaged and excited.

Controversial Moves and the Ethereum Bridge

One of the most significant and controversial decisions made by Frank was the decision to bridge DeGods NFTs from the Solana blockchain to Ethereum, along with migrating y00ts from Solana to Ethereum's Polygon sidechain network, subsequently moving y00ts to the Ethereum mainnet and returning a substantial grant from Polygon Labs.

This move occurred during a period of heightened uncertainty following the collapse of the FTX crypto exchange and Solana's subsequent price plummet.

Feeling the pressure of community anxiety and the desire to elevate DeGods into the mainstream of NFT culture, Frank opted to transition the projects to the Ethereum ecosystem, which houses many of the most valuable NFT projects.

“Like the bridge off SOL. Everyone in the community was panicking (myself included) during FTX. I tried to fix their anxiety. In reality I was just being a pussy.”

However, in hindsight, he acknowledges that succumbing to short-term pressures and seeking immediate approval may not always yield favourable outcomes.

Embracing Conviction Over Short-Term Gratification

Frank emphasised the importance of standing by one's convictions, even in the face of criticism or uncertainty.

He admitted that seeking to alleviate community anxiety during turbulent times often led to reactionary decisions that ultimately proved detrimental.

Through leading DeGods, Frank learned the value of conviction and the potential pitfalls of prioritising short-term appeasement over long-term vision.

Offering Flexibility and Choice

In a recent announcement, Frank unveiled an optional bridge back to Solana for both DeGods and y00ts, allowing the community to decide whether to remain on Ethereum or return to Solana.

This move reflects his commitment to providing flexibility and choice to the community without resorting to strong-armed incentives.

By offering this option, Frank aims to empower the community to make decisions aligned with their preferences and interests.

BTC Degods

Notably, in March last year, DeGods leveraged Ordinals NFTs to bring a portion of their collection to Bitcoin, the "undisputed king of blockchains."

DeGods burned 535 Solana NFTs and recreated them on Bitcoin's block 776408.

500 were minted on a first-come-first-served basis, selling out in just three minutes. The remaining 35 were auctioned for the project's $DUST token, with proceeds going to a decentralised autonomous organisation.

This cross-chain move followed similar ventures by other NFT collections like CryptoPunks and OnChainMonkey.

A Price Surge Ignites Controversy

Despite facing criticism for their departure, DeGods and y00ts have seen a significant rise in value upon returning to Solana.

Floor prices, representing the minimum asking price for an NFT in a collection, have skyrocketed. DeGods NFTs now boast a floor price of nearly 50 SOL, while y00ts have reached nearly 13 SOL.

A Community Divided

However, the return is not without its detractors. Some community members have expressed disapproval of the timing, questioning the project's loyalty to Solana.

Comments like "How can you support a project that left our chain at its darkest time and now rejoins when Solana is the place to be" highlight the frustration felt by those who remained committed to the platform during challenging periods.

How Did Solana Regain Back Its Momentum?

Solana has experienced a remarkable resurgence in the cryptocurrency market, marked by a surge in its highest at $195.99 since the downfall attributed to the FTX crisis. Currently, trading at $168.06.

This revival can be attributed to several key factors.

Firstly, endorsements from industry giants like Cathie Wood, CEO of Ark Invest, have boosted Solana's reputation, highlighting its efficiency and cost-effectiveness compared to Ethereum and Bitcoin.

Institutional trust in Solana has also grown, evidenced by a rebound of nearly 2400% after the FTX crisis, when Solana's price fell to around $8, and increased interest from institutional investors, even amidst net outflows from Ethereum.

Moreover, Solana's ecosystem has seen rapid growth, driven by its speed, scalability, and low transaction fees, with innovations like its mobile-optimised blockchain strategy and Saga crypto phone positioning it as a formidable contender.

The network's value has soared, active addresses have doubled, and the DeFi ecosystem's Total Value Locked has risen significantly, signalling a resurgence fueled by increased user acquisition, token launches, and the expansion of decentralised applications (dApps).

The Rise of Cross-Chain Interoperability

NFT projects like y00ts are increasingly recognising the limitations of being siloed on a single blockchain and are migrating towards cross-chain interoperability to overcome these challenges.

By enabling NFTs to move seamlessly between different blockchain networks, cross-chain NFTs enhance liquidity, broaden user bases, and improve utility for NFTs across various sectors such as DeFi, art, gaming, and intellectual property.

Projects like Analog are pioneering cross-chain solutions through protocols like General Message Passing (GMP), facilitating secure and efficient communication between different blockchains to automate cross-chain NFT transactions and unlock new possibilities in the Web3 space.

Uncertainties and Potential

The return of DeGods and y00ts to Solana presents a scenario filled with both uncertainties and potential. While some remain sceptical, others welcome the projects back with open arms.

The coming days will reveal whether this homecoming marks a sustainable chapter for the collections or simply another chapter in their ongoing saga of blockchain exploration.

Building an Antifragile Community

Looking ahead, Frank expressed his belief in the importance of building a robust and resilient community that thrives in the face of adversity.

He emphasised the concept of antifragility, advocating for a community that becomes stronger through challenges rather than seeking validation through reactive measures.

By prioritising the development of a strong and supportive community, Frank hopes to steer DeGods and y00ts towards long-term success in the dynamic landscape of NFTs.

Frank's candid reflection offers valuable insights into the complexities of leading an NFT project amidst evolving market dynamics and community expectations.

Through transparency, reflection, and a commitment to long-term vision, Frank seeks to navigate the challenges of the NFT space while fostering a community that is resilient, adaptable, and empowered to shape the future of DeGods and y00ts.