More than 48 Terra Projects Merged with Polygon Ecosystem

Over 48 projects, including the well-known Lunaverse (LUV) Metaverse platform, OnePlanet NFT marketplace, and Derby Stars play-to-earn (P2E) games, have been jointly migrated to the Polygon ecosystem.

Polygon Studios CEO Ryan Wyatt wrote on his official Twitter: “We are working closely with a variety of Terra projects to help them migrate over swiftly to Polygon.We will be putting capital and resources against these migrations to welcome the developers and their respective communities to our platform.”

We will commit funds and efforts to these migrations in order to welcome developers and their respective communities to our platform.

Polygon is a decentralized Ethereum scaling network designed to streamline supply chain processes. The ecosystem enables scalable, safe, and quick Ethereum transactions by leveraging Plasma side chains and a Proof-of-Stake network to address the issues of slow block confirmation and high gas prices.

According to the firm, more than 48 projects have successfully entered the Polygon ecosystem.

Terra Classic is the new name for the network. The Terra network's native tokens, LUNA and UST, saw an extraordinary fall in May.

LUNA lost all of its gains over the previous 12 months, plunging to a 52-week low of $0.8384. The LUNA's decline comes as more of a surprise to the crypto community, as such a drop is unusual, especially for an established blockchain protocol that reached its All-Time High (ATH) of $119.18 only a month ago.

As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects in a bid to protect you from hidden dangers in this risky industry!

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