Polygon Signals Safe Harbor for Terra Blockchain Developers
Main page News, Blockchain, Startups

Polygon, a sidechain for the Ethereum blockchain, wants to onboard as many developers from Terra as it can as Polygon Studios, a firm behind the sidechain, has launched a "relatively uncapped" fund to help Terra-built projects migrate to the sidechain.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

Polygon Studios CEO Ryan Wyatt told TechCrunch the firm has "capital set aside" to back those developers who want to join Polygon. He added:

"It's really important we have it, because all of their circumstances are uniquely different from each other."

Sequoia Capital India Joins SoftBank on $450M Funding for Polygon

Wyatt added that at least 50 projects have already submitted their applications to join the Polygon ecosystem. Although no details were revealed, the Polygon Studios CEO said the firm hopes all these projects will move to the sidechain by the end of the year.

The move comes after Polygon launched a new accelerator program for decentralized finance (DeFi) developers. The initiative has been implemented in cooperation with third-tier blockchain infrastructure provider Orbs and will focus on layer-2 and layer-3 projects.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Read also:
Please describe the error