The unfortunate events which led to the collapse of the entire ecosystem are still affecting the cryptocurrency market. As a part of a recovery strategy, Polygon will now assist Terra projects with migrating across network networks.

Polygon to Devote Resources to Terra Migrating Projects

Ryan Wyatt, Polygon Studios’ chief executive officer, has announced that the company is working with a number of Terra projects to help them quickly migrate to the Polygon network.

Wyatt says that Polygon is open to welcoming developers and community members to Terra projects.

Also, Wyatt revealed that Polygon would contribute the necessary funds and resources to help them migrate. Wyatt tweeted:

We have been working with Terra projects in order to assist them quickly to migrate to @0xPolygon.

— Ryan Wyatt (@Fwiz) May 15, 2022

CZ for Terra Support

Reacting to the recovery plan outlined by Terra founder Do Kwon, Changpeng “CZ” Zhao, the CEO of the world’s largest crypto exchange Binance, stated that he would support Terra.

CZ, however, has raised questions about Terra’s decision to fork hard. He also stated that Terra would not be able to support him unless there is more transparency.

Flipside

• Vitalik Buterin, co-founder of Terra, says that Terra’s proposed reimbursement plan should be based on small hodlers and not Luna whales.

Why you should care

These Terra projects are under extreme pressure and could be saved by migrating to Polygon Network.

Continue reading on DailyCoin