Projects built on the failed Terra Classic ecosystem have begun migrating to Ethereum’s main second-layer solution, Polygon Network.
In May, Polygon Network, the leading Ethereum scaling solution, invited Terra developers to join its blockchain ecosystem.
Now, about 48 projects that were developed on this blockchain are migrating to Polygon Network.
On his Twitter account, Ryan Wyatt, CEO of Polygon Studios, the NFT, gaming and metaverse arm of Polygon Network, confirmed the migration of blockchain projects, announcing the arrival of the OnePlanet NFT marketplace to its thriving digital ecosystem.
In May of this year, Wyatt revealed that Polygon was supporting Terra developers with resources and capital to migrate their projects to its blockchain ecosystem, with the aim of giving them a space to have a fresh start after the collapse of the Terra Classic network.
The main stablecoin of this ecosystem, UST Classic (USTC), lost its peg to the US dollar, causing Luna Classic (LUNC) to fall in value and, with it, the loss of billions of dollars for investors.
Although the Terra community voted to create a new network, which adopted the original name Terra, several of the application developers working on this blockchain have preferred to move to a more reliable blockchain.
Polygon, the most prominent network in the blockchain world
OnePlanet developers announced a strategic partnership with Polygon Network, highlighting several of the key factors that make this blockchain a leading project in the blockchain industry.
In a publication In a recent interview, the NFT platform developers highlighted Polygon’s low commission fees, high throughput, and level of security. These factors, they explained, make Polygon the most prominent network in the crypto industry, with enormous potential to boost mass adoption of cryptocurrencies.
From the OnePlanet Twitter account, the creators of the NFT marketplace expressed their gratitude for the opportunity that Polygon Network is offering to rebuild and grow their NFT ecosystem.
Through its partnership with the blockchain, NFT launchpad OnePlanet is helping other Terra non-fungible token projects migrate to this new ecosystem.
$450 million for migration
Polygon Studios is funding the migration of Terra blockchain projects.
The second layer network has allocated 450 million dollars to carry out this migration and enrich its digital ecosystem with a variety of high-profile, high-potential projects and protocols.
In addition to the OnePlanet NFT marketplace, other innovative projects were being developed on Terra, such as Lunaverse y Derby Stars, also confirmed their migration to Polygon Network.
Continue reading: Polygon enters the smartphone industry with Phone 1, from Nothing Technology
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