OVR has efficiently accomplished the primary section of its two-phase migration to the Polygon Community. The transfer started in January and has already proven promising outcomes for the venture, with the second section to be deployed in February. It introduced that it has transferred the Merkle Proof and minting capabilities from the Ethereum community over to the Polygon community, permitting for NFT minting at low charges.
Moreover, OVR additionally introduced that Polygon community funds have been added to the Ethereum and BSC community funds at present out there to customers within the major market. This may enormously lower transaction prices whereas offering the next scalability potential for the metaverse venture.
However Why Polygon?
Ethereum stands out as the main good contracts platform within the crypto area however there is no such thing as a doubt that it’s an overcrowded and oversaturated community. This excessive demand on the community, coupled with the community’s lack of ability to scale correctly to accommodate its progress, has led to recurring scalability and payment points, which occur to be among the highest in area.
In mild of those issues, OVR, a venture initially constructed on the Ethereum community, has needed to transfer operations to the Polygon community which might accommodate its progress and supply low transaction/minting prices for its customers. The excessive charge of adoption of the Polygon blockchain and its closeness to the Ethereum community additionally helps to dramatically scale back the chance of ending up in “ghost chains.”
“The blockchain scalability panorama is huge and shortly evolving; selecting one resolution over one other will not be a easy process, however it’s a multidimensional drawback with many variables and forecasts to digest,” the web site reads.
Polygon presents as your best option for OVR given its low transaction prices, its decentralization trade-offs and venture imaginative and prescient, adoption trajectory, and neighborhood to the Ethereum community/EVM compatibility.
Buying and selling OVR On Polygon
With the transfer to Polygon, buying and selling OVR tokens has by no means been cheaper. Customers can now simply swap their OVR tokens on the Polygon implementation of Uniswap V3. Fuel charges for every swap are at $0.01 every because the transfer has made transactions simpler and cheaper.
What’s extra, is that OVR tokens can now simply transfer from Ethereum to Polygon and vice versa utilizing the Polygon Bridge. It’s a easy DApp that solely requires a consumer to attach their pockets to it and so they’re good to good.
Simply as transaction charges have dropped with the transfer to Polygon, so have NFT minting charges. OVR customers are capable of mint their OVRLands for actually low cost on the Polygon community in comparison with the Ethereum community. This functionality is at present reside and OVRLand holders can mint them as NFTs on the Polygon blockchain, which might solely be offered on the OpenSea market in the meanwhile.
The second section of the transfer to Polygon will include much more thrilling capabilities resembling batch minting of all mild minted OVRLands, direct minting of latest major market gross sales, an Ethereum <> Polygon NFT bridge, in addition to a totally decentralized secondary market the place customers can promote their OVRLand NFTs.
It’s as much as every consumer in the event that they wish to mint their OVRLand on Polygon now or watch for the batch minting that comes with section II. Those that select to attend can have their OVRLands, that are at present saved as Merkle Proofs on Ethereum, minted on to their wallets on Polygon.
There are at present greater than 700,000 OVRLands in circulation owned by over 24,000 wallets. OVR can also be pushing an replace to its app to enhance the AR expertise of its customers.