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 challenge, with the second section to be deployed in February. It introduced that it has transferred the Merkle Proof and minting features 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 accessible to customers within the major market. It will tremendously lower transaction prices whereas offering the next scalability potential for the metaverse challenge.
However Why Polygon?
Ethereum could be the main good contracts platform within the crypto area however there isn’t any doubt that it’s an overcrowded and oversaturated community. This excessive demand on the community, coupled with the community’s incapability to scale correctly to accommodate its progress, has led to recurring scalability and charge points, which occur to be a few of the highest in area.
In gentle of those issues, OVR, a challenge initially constructed on the Ethereum community, has needed to transfer operations to the Polygon community which may accommodate its progress and supply low transaction/minting prices for its customers. The excessive fee of adoption of the Polygon blockchain and its closeness to the Ethereum community additionally helps to dramatically cut back the chance of ending up in “ghost chains.”
“The blockchain scalability panorama is huge and shortly evolving; selecting one answer over one other isn’t a easy process, nevertheless it’s a multidimensional downside 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 challenge 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 person to attach their pockets to it they usually’re good to good.
Simply as transaction charges have dropped with the transfer to Polygon, so have NFT minting charges. OVR customers are in a position to mint their OVRLands for actually low cost on the Polygon community in comparison with the Ethereum community. This functionality is at present dwell and OVRLand holders can mint them as NFTs on the Polygon blockchain, which may solely be offered on the OpenSea market in the meanwhile.
The second section of the transfer to Polygon will include much more thrilling capabilities equivalent to batch minting of all gentle 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 person in the event that they wish to mint their OVRLand on Polygon now or look ahead to the batch minting that comes with section II. Those that select to attend may 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.