NewsletterPolygon Team Working With Terra Projects to Help Them Swiftly Migrate to Polygon Network
The collapse of the Terra ecosystem over the last week has shaken the entire crypto market. Industry players are coming forward to lend an extending help to the community. On Sunday, May 15, Ryan Wyatt, CEO of Polygon Studios tweeted that it will help different Terra projects migrate to the Polygon blockchain network. He wrote:
“We are working closely with a variety of Terra projects to help them migrate over swiftly to @0xPolygon. We will be putting capital and resources against these migrations to welcome the developers and their respective communities to our platform and will be sharing more soon”.
Polygon co-founder Sandeep Nainwal chipped in explaining what could be the right choices for Terra projects. He said that Terra community projects that have a requirement of a shared chain can choose the Polygon PoS chain. The Polygon Proof-of-Stake shall soon be introducing ZK Rollups.
However, Sandeep advised those looking for an app-specific chain to opt for SUPERNET. He further explained the benefits of doing so:
- No weird restrictions on Validators/Bridge.
- Future possibility to make your chain a rollup.
- Eth community love.
Terra’s Rescue Plan and Community Support
Well, after all the drama that happened last week, Terra founder Do Kwon finally broke his silence and pitched a recovery plan. One of the idea’s being considered is the hardfork of the Terra blockchain.
However, considering the excess supply of LUNA currently in the market, Binance CEO Changpeng Zhao said that this idea won’t work. He said:
“Reducing supply should be done via burn, not fork at an old date, and abandon everyone who tried to rescue the coin. I don’t own any LUNA or UST either. Just commenting.”
But he also considered extending a helping hand to the Terra community. Zhao said: “Regardless of my personal views, or the solution chosen in the end, we will always be here to support the community in any way we can.”
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- BlackRock Bitcoin ETF Ranks Among Top ETFs In 2025 Despite Crypto Downturn
- Stablecoin Adoption Deepens as Klarna Turns to Coinbase for Institutional Liquidity
- Ripple, Circle Could Gain Fed Access as Board Seeks Feedback on ‘Skinny Master Account’
- Fed’s Williams Says No Urgency to Cut Rates Further as Crypto Traders Bet Against January Cut
- Trump to Interview BlackRock’s Rick Rieder as Fed Chair Shortlist Narrows to Four
- Will Solana Price Hit $150 as Mangocueticals Partners With Cube Group on $100M SOL Treasury?
- SUI Price Forecast After Bitwise Filed for SUI ETF With U.S. SEC – Is $3 Next?
- Bitcoin Price Alarming Pattern Points to a Dip to $80k as $2.7b Options Expires Today
- Dogecoin Price Prediction Points to $0.20 Rebound as Coinbase Launches Regulated DOGE Futures
- Pi Coin Price Prediction as Expert Warns Bitcoin May Hit $70k After BoJ Rate Hike
- Cardano Price Outlook: Will the NIGHT Token Demand Surge Trigger a Rebound?
