Terra projects band together in migration to Polygon ecosystem
Terra blockchain has collaborated to help each other migrate over to the Polygon layer-two network.
More than 48 different crypto projects formerly based on the failed Terra ecosystem have found a resurgence by migrating over to Polygon.
Polygon Studio's CEO Ryan Wyatt expressed delight at his network's ability to onboard many projects to the ecosystem in July
Polygon works closely with a variety of Terra projects to help them migrate over swiftly to Polygon.
We will be putting capital and resources against these migrations to welcome the developers and their respective communities to our platform.
UPDATE: Terra projects have begun migration. Over 48 projects and counting… including @OnePlanet_NFT, an exclusive @0xPolygon marketplace, and @DerbyStars_HQ!— Ryan Wyatt (@Fwiz) July 8, 2022
It was so awesome to help and welcome all these wonderful developers to our thriving ecosystem!
Welcome!$MATIC https://t.co/5ypu1QdMBA pic.twitter.com/JcskdWGnZJ
Also, Ryan Wyatt stated Polygon's multimillion-dollar Terra Developer Fund has been effective in attracting the talent that was unexpectedly flung into limbo when Terra collapsed in May.
Polygon (MATIC) is a network that serves as a layer two scaling solution for the Ethereum network.
Higher profile projects to move to Polygon are the Lunaverse (LUV) Metaverse platform the OpenPlaner NFT marketplace and the Derby Stars play-to-earn (P2E) game.
OnePlanet has been instrumental in helping other NFT projects migrate to Polygon. it has become a platform dedicated to assisting NFT projects from Terra with its Ark*One initiative.
OnePlanet Ark*One has helped a total of 48 NFT projects including 90 NFT collections port over the Polygon.
“This represents a large proportion of Terra projects, including some that did not launch on One Planet before the cataclysmic de-peg event.”
The sudden collapse of the Terra ecosystem left a plethora of innovative NFT projects and their communities stranded in the wreckage.
The project is called Ark*One and has grown to become much more than a salvage operation as the NFT universe is in dire need of a fully decentralized NFT launchpad and marketplace like OP.
Ark*One has reduced the support it provides to aspiring projects but the team said it will "still provide technical support for projects who want to migrate from Terra and allow projects to launch on Polygon using its launchpad."
Polygon appears to have been more successful at attracting Terra projects than the many Terra projects that have made the move to the Layer 1 ecosystem despite VeChain openly welcoming Terra developers to apply for a grant.