Grin lead developer in a powerful message: 'I’m disappointed by the way the industry around Grin is shaping up'

In an announcement posted on an official Grin forum, Grin lead developer that goes by the pseudonym of Ignotus Peverell said that they are disappointed by the way the industry around Grin is shaping up. They said: "Grin was started with as fair of a launch as possible for what’s under our control. We did this for good reason: we believe in Grin’s mission."

But Peverell is disappointed that Michael Cordner's campaign to raise funds that would allow him to give full-time attention to Grin is still "very far from being even 10% funded." At the time of publication of Peverell's message, Cordner's campaign has been able to raise €4,660 out of the target of €55,000. Since then, additional 131 ETH (~€12,000) and 1.14 BTC (~€3,400) was raised, which puts the total at a little over €20,000 (~37% of the goal).


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Peverell thinks that the lesson for every development or research team watching looks clear - "more scammy ICOs for more money and a lot less work. Perhaps forcefully taking 20% of all rewards is the only way to get any contribution out of the mining industry." They continued: "if greed feeding on itself is the only lesson, then this space truly deserves a really long and hard winter. A lot more creation is needed to reach escape velocity, and that won’t happen if everyone’s goal is just feeding off it."

Paverell clarified that his message is directly addressed to some of the new funds, miners, mining pools and exchanges that have entered this ecosystem since the launch and benefited from it. Paverell concluded by saying that "Grin will profit infinitely more from the contributions of a great developer like [Michael Cordner] than from any single additional miner, exchange or fund."

About Author

Larry joined crypto research full time in early 2017 and has expertise in capital markets, market structure and early stage DeFi companies/protocols and token economics. He has a background in economics and finance.