OVR, an Ethereum-based platform for generating, hosting, and displaying geo-located AR and VR content on mobile devices, has officially moved to Polygon.
The first phase of OVR’s two-phase migration to the Polygon Network has been completed successfully. The project’s first phase began in January and has already yielded excellent results, with the second part set to begin in February.
It reported that the Merkle Proof and minting capabilities from the Ethereum network have been migrated to the Polygon network, allowing for low-cost NFT minting.
Ethereum may be the most popular smart contract platform in the crypto world, but it is undeniably an overpopulated and congested network.
Scalability is one of the difficulties that the Ethereum blockchain faces. As the network is used by more and more decentralized apps and services, and transactions grow rapidly, the gas fees rise tremendously.
The team decided to migrate to Polygon after considering the efficacy of the Ethereum network and its ability to scale and work for the dApp as well as their users, both logistically and financially.
The move will improve scalability, as well as lower fees and the ability for users to trade their OVR tokens on the Polygon Network. The token, which was previously hosted on the Ethereum network, has been hampered by network issues such as inability to scale and high transaction costs.
OVR on Polygon will enable more features that were previously impossible due to Ethereum network bottlenecks. Users will soon be able to access features such as renting smart contracts, which can be used to monetize valuable OVRLands.
Users can now easily trade their OVR tokens on the Polygon implementation of Uniswap V3, making trading OVR tokens cheaper. Gas prices for each swap have been set at $0.01 because the move has made transactions easier and cheaper. Users will also now be able to transfer their ERC-20 tokens to the Polygon Network and vice versa with ease.