After Terra, many developers were in limbo (Luna) collapsed. These Terra-based projects, already under a lot of pressure, may be able to save their communities and projects by migrating to other networks.
The move is expected to enable Polygon (MATIC) Community and the Terra Project, Ryan Wyatt, CEO of Polygon Studios tweet On Monday, Polygon was working with several Terra projects to help them migrate to the Polygon network. According to Wyatt, the Polygon community “is ready to welcome the developers and communities of these Terra projects.” He also said that Polygon will provide the funding and resources needed to help them migrate.
Polygon founder Sandeep Nailwal added his two cents by detailing which options would work best for the Terra project. He suggested that Polygon’s proof-of-stake chain could be used by community projects that need a public chain. Nailwal noted that ZK Rollups will soon be available on the proof-of-stake network.
Tier 1 blockchain project Fantom also said that Fantom is ready to assist any project or developer looking to move away from the Terra blockchain, expanding support for the Terra community. The team at Fantom also detailed a grant program to help with integration, marketing and connections.
Any Terra Luna project looking for a new chain, please PM us.
Fantom has 100% uptime, fast, low cost, reliable, and has a great community.
— Fantom Foundation (@FantomFDN) May 15, 2022
These efforts are sure to help many Terra projects get back on their feet after last week’s events. Terra creator Do Kwon finally has his voice Recovery plan provided. The possibility of implementing a hard fork in the Terra blockchain is one of the ideas being considered.However, due to the excessive amount of LUNA currently on the market, Binance CEO Changpeng Zhao statement This method doesn’t work.
Despite reservations, CZ agreed to help the Terra community. He stated:
“Regardless of my personal views, or the solution ultimately chosen, we will always be here to support the community in any way.”
Ethereum co-founder Vitalik Buterin also expressed his views on this issue. Buterin thinks any repayment plan for Terra should Special consideration is given to small investors.