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Terra Projects Get Aid From Polygon Network

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VOC, Voice of crypto, Polygon, MATIC,

The crisis in the Terra ecosystem has caused a great commotion throughout this past week. Nonetheless, industry players are coming forward to lend their support and help out the community, which is amazing. 

In a recent tweet, Ryan Wyatt CEO of Polygon Studios announced that his company will be helping various Terra projects migrate to the blockchain network.

He said they are working closely with various Terra projects to help them migrate over swiftly and smoothly. According to Ryan, they will put capital, resources, or both behind these migrations to welcome developers from their respective communities to Polygon.

Polygon’s founder Sandeep Nainwal offered his insight on what could be the right choices for Terra projects. He said the Terra community projects that need a shared blockchain could choose the Polygon PoS chain. The Polygon Proof-of-Stake is about to introduce a new and improved way of doing things with their latest innovation, ZK Rollups!

 

He, however, advised those looking for an app-specific chain to opt-in with SUPERNET.

According to Sandeep, using SUPERNET has lots of benefits like:

  • The Validators/Bridge are unrestricted, meaning that they can be used for any purpose without being limited by weird restrictions.
  • With this technology, your chain could become a roll-up in the future.
  • Eth community love. The eth community is full of passionate, love-filled individuals.

 

Terra’s Rescue Plan and Community Support

After a lot of drama happened last week, the founder of Terra has finally broken his silence and pitched a recovery plan. One solution being considered is whether or not they will hard fork their blockchain.

However, the CEO of Binance, Changpeng Zhao, said that this idea wouldn’t work because there is too many LUNA in circulation already. CZ said the best way to reduce supply is by burning, not fork-and abandoning everyone who tried their luck at saving the coin. This will leave everyone who tried rescuing the coin in despairing limbo forever.

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“I don’t own any LUNA or UST either. I just wanted to comment on it!” CZ said 

 

But he also considered the possibility of giving them a helping hand. CZ feels that regardless of what personal views he holds, or how a solution is ultimately chosen in the end – the community will always be here with open arms to support Terra.

Jim Haastrup is a freelance blockchain and metaverse writer. He helps founders, investors, startups, crypto, and blockchain enthusiasts connect with their audience and win investment through the written word.

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