The CEO of Polygon Studio, Ryan Wyatt, announced on Sunday, May 16th, that they are currently working with several Terra projects to help them migrate swiftly to Polygon following last week’s LUNA/UST crash.
After the LUNA crash, several developers on the Terra blockchain have been left in limbo as many of the Terra-based projects are under a lot of pressure, and many are already considering the option of migrating to another network to host their to save communities.
Major players in the crypto industry have started to come forward and join in to help the Terra community. Recently, Ryan Wyatt, the CEO of Polygon Studio, has offered to help Terra projects transition to Polygon, which is expected to benefit both the projects and the Polygon Matic communities.
In a tweet he posted on Sunday, Ryan stated they are currently working with several Terra projects to enable them to seamlessly migrate to Polygon.
He also stated they would invest resources and capital to facilitate the migration of these projects to welcome developers and their respective communities to Polygon.
https://twitter.com/Fwiz/status/1525887462093910016?s=20u0026amp;t=dGgmT_5tNaszbU6L-l9Tpg
Backing up Ryan’s announcement, Polygon co-founder Sandeep Nailwal explained the options available for Terra Community projects.
He suggested that Polygon’s Proof-of-Stake (PoS) chain might be suitable for migrating projects that want a shared chain, noting that the ZKRollup will soon be available for their PoS.
In addition, Sandeep advised projects looking for an app-specific chain to consider the recently launched Polygon SUPERNET, noting the benefits they will enjoy by using it, which include, among other things, no bridge/validator restrictions, the future possibility of having individual chains up.
Furthermore, several Terra Community projects had approached the Juno network and expressed interest in migrating to and developing on the network.
The Juno community members are currently voting on a proposal to use $4.7 million from its community fund to support the migration and continued development of Terra projects.
At the time of writing, 97.40% of the votes were cast in favor of the proposal.
