Polygon Lends A Helping Hand To Luna

May 17, 2022 3:27 pm

Polygon is looking to give Luna a helping hand.

The CEO of Polygon Ryan Wyatt recently took to Twitter to announce that Polygon is going to attempt to assist with Terra projects by transferring them to the Polygon network.

Currently, the Polygon team is in talks with Terra projects and they are looking to move Terra over to their network as quickly as possible.

Besides Wyatt, the Fonder of Polygon Sandeep Nailwal also sent out a tweet explaining how the Terra community could benefit from the Polygon network.

Business Today had these details:

After the infamous Terra Luna crash, Polygon, the Ethereum scaling solution is here to the rescue of the various Terra projects.

Ryan Wyatt, CEO of Polygon, took to Twitter to announce that the Ethereum scaling solution is going to assist Terra projects by transferring them to the Polygon network.

Wyatt  stated the Polygon team is in talks with a few Terra projects to help them transition to the Polygon network quickly. He also stated that Polygon will be putting its own money to assist with the upcoming migrations.
Sandeep Nailwal, the Indian origin founder of the Polygon network, further added to Wyatt’s tweet by tweeting about various Polygon products Terra community can use.

 

Cointelegraph got the scoop too:

Numerous developers have been left in uncertainty in the aftermath of the Terra (LUNA) collapse. These Terra-based projects, which are already under a lot of pressure, may be able to save their communities and projects by migrating to other networks.

In a move that is expected to benefit both the Polygon (MATIC) community and Terra projects, Polygon Studios’ CEO Ryan Wyatt tweeted on Monday that Polygon is working with a number of Terra projects to assist them migrating to the Polygon Network. The Polygon community, according to Wyatt, “is ready to welcome the developers and communities of these Terra projects.” He also stated that Polygon would provide the capital and resources needed to assist them in their migration.

Polygon founder Sandeep Nailwal added his two cents by detailing the options most suitable for Terra projects. He suggested that Polygon’s proof-of-stake (PoS) chain may be utilized by community projects needing a common chain. Nailwal noted that zk-Rollups will be available on the PoS network soon.

Layer-1 blockchain project Fantom (FTM) also extended its support to the Terra community by stating that Fantom is prepared to assist any project or developer who desires to move away from Terra blockchain. The team at Fantom also detailed a grant program to help with integration, marketing and connections.

Is Terra even worth saving at this point?

Let us know in the comment section down below.

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