By Jamie – Crypto Expert - 01/02/2022
The initial step of OVR's transfer from Ethereum to Polygon began after the project and its community experienced concerns with Ethereum's scalability. The second wave of migration will begin in February.
The first step of OVR's move from the Ethereum network to Polygon has begun. Merkle Proof and minting functions have been moved from the old network to the latter, meaning network participants may now mint their OVRLand NFTs via the Polygon protocol. You can buy Ethereum (ETH) and buy Polygon (MATIC) on our platform here.
OVR decided to convert to Polygon due to a number of factors the cryptocurrency trading space has witnessed in recent months, including transaction costs, decentralised trade-offs and project goal, current adoption, proximity to the Ethereum ecosystem, and EVM compatibility.
Polygon provides the scalability that OVR needs to make NFT minting and transfer cost-effective enough for the typical transaction sizes. Most significantly, Polygon's proximity to Ethereum lowers the possibility of OVR becoming caught on a 'ghost chain.’
In February, the relocation will enter its second phase. OVR will start minting OVRLands and sending them to their owners' Polygon wallets as Merkle Proofs on the Ethereum network. More than 700,000 OVRLands are now owned by over 24k distinct wallets. This will result in totally decentralised OVRLand ownership, as well as broad public inspection of newly created lands and the communities that control them.
This follows OVR's revelation that OVR tokens might be swapped on the Polygon implementation of Uniswap V3 and other cryptocurrency exchange platforms. The official Polygon Bridge allowed users to transfer ERC-20 OVR tokens from the Ethereum network to Polygon and vice versa. The bridge will detect OVR tokens in users' Ethereum wallets and complete the bridging automatically. All users had to do was link their wallets to the DApp.
OVR told CoinQuora that it was proud of how much the user experience has improved and the increased popularity in buying and selling cryptocurrency. This is due to the fact that OVR has sold over 700,000 OVRLands and has incorporated several NFT projects into the metaverse.