Projects that were formerly running on the defunct Terra blockchain have worked together to assist one another in moving to the Polygon layer-two network.
By switching to Polygon, more than 48 distinct cryptocurrency projects that were originally based on the defunct Terra ecosystem have seen a revival.
In a tweet on July 9, Ryan Wyatt, CEO of Polygon Studios, expressed his happiness at his network’s ability to integrate so many projects into the ecosystem. He made a suggestion that Terra Developer Fund, a multimillion dollar initiative by Polygon, has been successful in luring talent that was unpredictably cast into uncertainty when Terra failed in May.
UPDATE: Terra projects have begun migration. Over 48 projects and counting… including @OnePlanet_NFT, an exclusive @0xPolygon marketplace, and @DerbyStars_HQ!
It was so awesome to help and welcome all these wonderful developers to our thriving ecosystem!
Welcome! đź’ś$MATIC https://t.co/5ypu1QdMBA pic.twitter.com/JcskdWGnZJ
— Ryan Wyatt (@Fwiz) July 8, 2022
The layer-two scaling option for the Ethereum network is the Polygon (MATIC) network.
The OnePlanet NFT market, the Derby Stars play-to-earn (P2E) game, and the Lunaverse (LUV) Metaverse platform are a few of the more well-known enterprises that have moved to Polygon.
Other nonfungible Token (NFT) projects’ migration to Polygon was made possible in large part because to OnePlanet. It has evolved into a platform devoted to aiding Terra’s Ark*One initiative with NFT projects.
OnePlant’s blog post from July 9 describes how Ark*One assisted with the migration of “A total of 48 NFT projects, covering 90 NFT collections” to Polygon.
This includes a number of Terra projects that did not debut on One Planet prior to the catastrophic de-peg incident.
Since June 15, Ark*One has scaled back the assistance it offers ambitious companies, however the group insists that it will “continue to give technical support for projects who want to transfer from Terra” and will permit projects to use its launchpad to launch on Polygon.
The VeChain (VET) ecosystem does not appear to have been as successful at luring Terra projects as Polygon. Despite VeChain openly inviting Terra developers to apply for a grant, it doesn’t seem like many Terra projects have transitioned to the layer-1 ecosystem to date.
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