- y00ts introduced it is going to migrate to Polygon on 27 March 2023.
- A day stays till the zkEVM launch however MATIC continues to undergo.
Polygon [MATIC] lately witnessed a significant increase in its NFT ecosystem, suggesting development. Santiment’s chart confirmed that Polygon’s whole NFT commerce rely and commerce quantity in USD elevated significantly since 16 March 2023.
Due to the rise in commerce counts, the variety of distinctive addresses holding NFTs have additionally elevated.
Learn Polygon’s [MATIC] Value Prediction 2023-24
What can gasoline additional development?
Issues would possibly get even higher within the coming days as y00ts, one of the standard NFT collections on Solana [SOL], introduced that it’s going to migrate to Polygon on 27 March.
On March twenty seventh, the migration to @0xPolygon will start.
It is possible for you to emigrate instantly from our official web site.
You’ll in all probability need to migrate inside the first 24 hours.
There are advantages to being early. 1/ pic.twitter.com/z930Kr2kBD
— y00ts (@y00tsNFT) March 26, 2023
As per the announcement, customers will be capable to instantly migrate from y00ts web site. Not solely can holders merely migrate, however they can even be rewarded for a similar. In reality, holders can be rewarded with $5 USDC per y00t listed on Magic Eden.
Moreover, the official tweet talked about that y00ts is disapproving of additional growth for y00ts/DeGods on SOL.
The rationale why this will help Polygon is that for the subsequent 30 days, there can be no buying and selling charges for y00ts on Magic Eden. Subsequently, holders and new customers may be motivated to purchase or promote extra, serving to Polygon’s NFT ecosystem develop additional.
Polygon is all set for the zkEVM launch
Whereas y00ts will migrate to Polygon, the blockchain can be launching its much-awaited zkEVM. Because the community prepares for the launch, it has began a bug bounty program.
The bounty program, which can be run by Immunefi, is without doubt one of the many safeguards in place for the upcoming launch of mainnet beta.
The bug bounty for Polygon #zkEVM Mainnet Beta contains as much as $1,000,000 for any white hats that discover vital bugs within the good contracts or blockchain
For extra on the scope, eligibility, and what makes pricing bugs laborious in ZK rollups, verify 👇🏽https://t.co/YMNgIs8X5s
— Polygon (@0xPolygon) March 25, 2023
This program will additional assist Polygon in refining its product. Nicely, its competitor, Ethereum’s [ETH] layer-2 resolution, zkSync Period, was absolutely opened to the general public on 25 March 2023.
Beating Polygon, the zkSync Period turned the primary EVM with the help of zero-knowledge rollup (zk-rollup) to be launched on the mainnet.
Is your portfolio inexperienced? Test the Polygon Revenue Calculator
MATIC efficiency was not at par
Whereas the NFT ecosystem witnessed development, the identical was not true for MATIC, which has fallen sufferer to the bears. In response to CoinMarketCap, MATIC’s value declined by over 8% within the final week. At press time, it was buying and selling at $1.09 with a market capitalization of over $9.8 billion.
As a result of decline, MATIC’s MVRV ratio plummeted sharply. The hype across the zkEVM launch additionally was not sufficient to present traders confidence as MATIC’s weighted sentiment remained on the unfavourable aspect.
The way forward for MATIC post-zkEVM launch stays to be seen.