Join Our Mailing List
Sunday February 05, 2023
Bitcoin (BTC) $23,342.25   Ethereum (ETH) $1,661.44
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
Trezor Model T
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
Home Networks & Protocols

Polygon forms a multi-million dollar fund to assist Terra projects in migrating

In the wake of the Terra collapse, Polygon has teamed up with Terra-based NFT ecosystem OnePlanet to provide funding and technical support for projects migrating to Polygon...

Published by CryptoNinjas.net
05/25/2022
Polygon forms a multi-million dollar fund to assist Terra projects in migrating

Polygon, the popular Ethereum scaling platform, today announced the launch of a multi-million dollar fund to support Terra projects looking to migrate to Polygon.

The first project to be granted funding is Terra-based NFT marketplace and launchpad, OnePlanet. OnePlanet will transition to Polygon in the coming months, becoming the dedicated marketplace for any migrated Terra NFT projects to the Polygon ecosystem.

OnePlanet has been positioning itself as a dominant launchpad and secondary marketplace for the Terra NFT ecosystem, onboarding more than sixty collections within 3 months since launching last January.

Focusing on the utility aspect of NFTs and the NFT holder communities of each collection, OnePlanet provides overall infrastructure for the Terra NFT ecosystem.

The recent collapse of the Terra ecosystem left hundreds of Terra-based projects and developers stranded on the now-inoperative chain, with little capital to migrate elsewhere or start afresh.

Together with OnePlanet, Polygon will help fund the relocation of these projects to Polygon to help support re-development and protect their communities.

Polygon has also established a community fund to incentivize holders to migrate their assets and cover costs incurred in transferring items onto the Polygon chain.

Ryan Wyatt, CEO of Polygon Studios:
“Polygon is thrilled to offer a home to the OnePanet team and wider Terra community. The project will bring immense value to the Polygon NFT ecosystem, owing to the strength of its marketplace, committee, fans, and community. We will provide financial and technical support to help smooth the transition and integration, along with a warm welcome from the entire Polygon community. It is our job to help builders focus on building, and we’re excited to welcome all of these Terra projects to Polygon. We’ve launched the fund to help Terra projects like OnePlanet migrate their burgeoning ecosystem to Polygon, bootstrap their recovery, and help them build back stronger than before.”

Funding will cover technical migration support in the complex process of porting projects across chains. Additionally, a collection fund will be set up to help builders and creators re-bond and keep providing their key services to ongoing projects.

SungMo Park, Head of Business at OnePlanet:
“After a turbulent few weeks for the Terra ecosystem, we recognize that our loyal community now needs a reliable, secure new home for their projects. Re-building on Polygon will add tremendous value to the OnePlanet’s partner NFT projects thanks to its stellar team, EVM compatibility, scaling facilities, and carbon-neutral network. We’re immensely grateful to Polygon, who appreciated the potential and the value of Terra NFT projects, and who will help us keep delivering the value and the roadmap that our partner NFT projects have been envisioning.”

71
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram
Source: polygon.technology

Related News

Kaleido to leverage Polygon Edge to accelerate enterprise blockchain projects

07/21/2022
Kaleido to leverage Polygon Edge to accelerate enterprise blockchain projects

Kaleido, an enterprise-grade web3 infrastructure platform, today announced it will leverage Polygon Edge, a dedicated framework allowing organizations to deploy customizable, application-specific, and highly performant blockchain networks. A carbon-neutral Ethereum-based scaling platform, Polygon reduces...

Read more

Polygon set to release zero-knowledge (ZK) scaling solution compatible with Ethereum

07/20/2022
Polygon set to release full zero-knowledge (ZK) scaling solution compatible with Ethereum

Polygon, the popular Ethereum-focused scaling platform, today announced the launch of Polygon zkEVM, the first Ethereum-equivalent scaling solution that works seamlessly with all existing smart contracts, developer tools, and wallets, harnessing advanced cryptography called...

Read more

Hex Trust adds support for Polygon (MATIC) to enable licensed secure custody

06/13/2022
Hex Trust adds support for Polygon (MATIC) to enable licensed secure custody

Hex Trust, a licensed and insured provider of bank-grade custody and associated services for crypto-assets in Asia, announced today it has successfully integrated Polygon, the full-stack scaling solution for Ethereum, into its crypto-asset custody...

Read more

Tether’s USDt now live on Polygon network

05/27/2022
Tether's USDt now live on Polygon network

Tether, the company operating the blockchain-enabled stablecoin platform, announced it has now launched the Tether token (USDt) on Polygon (formerly MATIC), the Ethereum blockchain scaling and development platform. The addition of Tether to the...

Read more
Load More
Leave Comment

Where to Exchange

Leading crypto suite in Spain & LATAM Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
First U.S. regulated BTC exchange Visit
  • Trending
  • Latest
Trust Wallet launches anticipated browser extension of its crypto management app

Trust Wallet launches anticipated browser extension of its crypto management app

11/14/2022
ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support

ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support

02/02/2023
Where Exactly Can You Spend Monero Cryptocurrency?

Where Exactly Can You Spend Monero Cryptocurrency?

10/20/2021
6 Best Cloud Mining Platform In 2022

6 Best Cloud Mining Platform In 2022

11/20/2022
ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support

ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support

02/02/2023
Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

01/24/2023
Crypto exchange Gemini launches new electronic OTC trading solution

Crypto exchange Gemini launches new electronic OTC trading solution

01/19/2023
Crypto securitization platform-GenTwo links to all Coinbase assets

Crypto securitization platform GenTwo links to all Coinbase assets

01/14/2023
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy