Decentraland announces layer-two MANA token transfers, plans for full migration

Just a day after two decentralized finance powerhouses introduced layer-two integrations through the Polygon sidechain, a serious nonfungible token and gaming title has right now adopted go well with.

In a blog put up this morning, NFT-powered digital world and video game Decentraland introduced a token bridge enabling customers to maneuver native MANA tokens to Polygon and again. At the time of publication, MANA is the 80th ranked token by marketcap and has risen 3750% on the yr to $1.01, per Coingecko.

This is simply step one in what shall be a considerably bigger migration, because the venture intends to allow all Decentraland dApps, together with their Builder and Marketplace contracts, to conduct transactions on Polygon.

In addition to brisk settlement occasions, the mixing can even make all transactions fully free for customers. While Polygon usually expenses a transaction price priced at fractions of a cent, Decentraland mentioned that they can even be leveraging meta-transactions. This will allow customers to “claim, buy, sell, and trade wearables for their avatars entirely on Polygon, with no transaction fees.”

Finally, the mixing will permit customers to buy MANA tokens straight with credit score and debit playing cards through a Polygon integration with crypto on/offramp Transak.

The migration is yet one more win for Polygon in a multi-horse race to supply scalability solutions to Ethereum’s chronic gas costs. Polygon — which rebranded from Matic, a former would-be competitor to Ethereum whose “sidechain” declare is considerably strained — has been taking specific benefit of competitors falling asleep on the wheel, comparable to when rollup platform Optimism pushed back their release by three months.

Yesterday, Aave and Zapper both announced Polygon implementations, giving the venture two top-100 marketcap wins in beneath per week. There may very well be extra competitors coming within the scaling wars, nonetheless, as last week Starkware raised $75 million.