Polygon and Fantom offer a Helping Hand to Terra Blockchain Projects - News Brief
Uncertainty is the word of the day if you are a blockchain project on Terra. While these projects are most certainly feeling the pressure, relief may be in sight. These Terra blockchain projects may be able to salvage the project as well as the community it developed by migrating to a different blockchain.
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.
[Coin News. Polygon and others extend helping hand to Terra blockchain projects. (Accessed May 16, 2022)].
Sandeep Nailwal, Polygon founder, added some information detailing some options available to the Terra projects on Polygon:
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.
[Kirimi, A. Polygon and others extend helping hand to Terra blockchain projects. (Accessed May 16, 2022)].
Likewise Fantom, a Layer-1 Blockchain protocol, has extended a helping hand to the Terra community. Fantom has stated it is ready and able to assist any project desirous of moving away from the Terra Chain. Fantom is also offering a grant program to assist with the projects integration, marketing and connections.
Fantom made this known, through the Fantom Foundation, in the following tweet:
These offers of assistance should go a long way in helping the Terra projects get back on their feet following the crash.
It is worthy to note that despite his own personal reservations [See, CZ. Thread. (Accessed May 16, 2022)], Binance CEO Changpeng Zhao, has stated he and his company will always be there to support the Terra community. As well, Ethereum co-founder Vitalik Buterin, believes that any plan to rescue Terra should include 'special consideration' for small investors [See, Quarmby, B. Buterin: Terra should protect the smallholders, not the whales. (Accessed May 16, 2022)].
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