Terra ecosystem projects started migrating to the Polygon network

by in Cryptocurrency News


Over 48 projects from the collapsed Terra ecosystem have begun relocating to the second-tier Ethereum network Polygon (MATIC). This was announced by CEO Polygon Studios Ryan Wyatt.

Among the most notable projects, he named the P2E game Derby Stars and the OnePlanet NFT marketplace.

The latter's team launched the Ark*One initiative to help applications move from the failed Terra network to Polygon.

The Wyatt-led company provided financial support to migrants. Assistance in moving Terra projects with "capital and resources" at Polygon Studios was promised in May.

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On June 15th, OnePlanet ended accepting applications for participation in Ark*One. The initiative is aimed at projects in the field of NFT. According to the marketplace, 48 applications have decided to move, covering 90 collections of tokens.

“This represents the majority of Terra projects, including those not launched on OnePlanet before the catastrophic decoupling [UST from the dollar],” the platform developers emphasized. They added that they will continue to provide technical assistance to teams in migrating to Polygon outside of the initiative.

The OnePlanet team expects to launch the marketplace in the new network in mid-August.

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Recall that at the end of May, the main network of the Terra 2.0 project was launched.