{"id":22497,"date":"2022-07-11T05:47:13","date_gmt":"2022-07-11T05:47:13","guid":{"rendered":"http:\/\/egrowonline.com\/?p=22497"},"modified":"2022-07-11T05:47:13","modified_gmt":"2022-07-11T05:47:13","slug":"terra-projects-band-together-in-migration-to-polygon-ecosystem","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=22497","title":{"rendered":"Terra projects band together in migration to Polygon ecosystem"},"content":{"rendered":"


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More than 48 different crypto projects formerly based on the failed Terra ecosystem have found a resurgence by migrating over to Polygon.\u00a0<\/p>\n

Polygon Studios CEO Ryan Wyatt expressed delight at his network\u2019s ability to onboard many projects to the ecosystem in a July 9 tweet<\/a>. He hinted that Polygon\u2019s multimillion-dollar Terra Developer Fund has been effective in attracting the talent that was unexpectedly flung into limbo when Terra collapsed in May. <\/p>\n

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UPDATE: Terra projects have begun migration. Over 48 projects and counting\u2026 including @OnePlanet_NFT<\/a>, an exclusive @0xPolygon<\/a> marketplace, and @DerbyStars_HQ<\/a>!<\/p>\n

It was so awesome to help and welcome all these wonderful developers to our thriving ecosystem! <\/p>\n

Welcome! $MATIC<\/a> https:\/\/t.co\/5ypu1QdMBA<\/a> pic.twitter.com\/JcskdWGnZJ<\/a><\/p>\n

\u2014 Ryan Wyatt (@Fwiz) July 8, 2022<\/a><\/p><\/blockquote>\n

Polygon (MATIC<\/a>) is a network that serves as a layer-two scaling solution for the Ethereum network<\/a>.<\/p>\n

Among the higher-profile projects to move to Polygon are the Lunaverse (LUV) Metaverse platform, the OnePlanet NFT marketplace, and the Derby Stars play-to-earn (P2E)<\/a> game. <\/p>\n

OnePlanet has been instrumental in helping other nonfungible Token (NFT)<\/a> projects migrate to Polygon. It has become a platform dedicated<\/a> to assisting NFT projects from Terra with its Ark*One initiative.<\/p>\n

OnePlant\u2019s July 9 blog post<\/a> outlines how Ark*One has helped \u201cA total of 48 NFT projects, encompassing 90 NFT collections\u201d port over to Polygon. <\/p>\n

\u201cThis represents a large proportion of Terra projects, including some that did not launch on One Planet before the cataclysmic de-peg event.\u201d<\/p><\/blockquote>\n

Since June 15, Ark*One has reduced the support it provides to aspiring projects, but the team says it will \u201cstill provide technical support for projects who want to migrate from Terra\u201d and allow projects to launch on Polygon using its launchpad. <\/p>\n

Polygon appears to have been more successful at attracting Terra projects than the VeChain (VET<\/a>) ecosystem. So far, it does not appear that many Terra projects have made the move to the layer-1 ecosystem despite VeChain openly welcoming Terra developers<\/a> to apply for a grant.<\/p>\n

Related: <\/em><\/strong>Korea and US agree to share investigation data on Terra<\/em><\/strong><\/a><\/p>\n

The Terra ecosystem suffered a monumental collapse in May<\/a> when its TerraUSD (UST) stablecoin lost its peg, forcing its native token LUNA to crash nearly 100% in value from over $60 to fractions of a cent. The network has been renamed Terra Classic, and its native token now has the LUNC ticker, while a new iteration has adopted the Terra name and LUNA ticker.<\/p>\n

It has yet to gain much traction or confidence as the crypto bear market deepens.<\/p>\n<\/div>\n


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More than 48 different crypto projects formerly based on the failed Terra ecosystem have found a resurgence by migrating over to Polygon.\u00a0 Polygon Studios CEO Ryan Wyatt expressed delight at his network\u2019s ability to onboard many projects to the ecosystem in a July 9 tweet. He hinted that Polygon\u2019s multimillion-dollar Terra Developer Fund has been […]<\/p>\n","protected":false},"author":1,"featured_media":22498,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[38],"tags":[9668,361,4360,1219,1461,356],"class_list":["post-22497","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-band","tag-ecosystem","tag-migration","tag-polygon","tag-projects","tag-terra"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/07\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvZDRiMWI4ODYtZjkyNC00NDRlLWFhODQtZjE4MmIwYzZmMjVmLmpwZw.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/22497","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22497"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/22497\/revisions"}],"predecessor-version":[{"id":22499,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/22497\/revisions\/22499"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/22498"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22497"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}