In a monumental leap towards its cross-chain ambitions, y00ts, the esteemed NFT collection and sister project of DeGods, has initiated its long-anticipated migration from Polygon to Ethereum. This move, which started a day ago, has already created a massive buzz in the crypto community.
— y00ts (@y00tsNFT) October 16, 2023
y00ts: Swift transition from Polygon to Ethereum and overwhelming response
Within the initial seven hours of the transition, an impressive 4,600 y00ts holders swiftly migrated their assets from Polygon to Ethereum through the dedicated bridge at bridge.y00ts.com. This rapid response highlighted the enthusiasm and confidence of the community in this groundbreaking shift.
Incentives and future enhancements when moving from Polygon to Ethereum
To encourage early adoption, y00ts NFTs has taken proactive measures. First and foremost, the NFT project is generously covering all gas fees for users making the move within the first 24 hours. Additionally, 10 NFTs will be randomly distributed to wallets migrating within the first day, adding an element of excitement to the migration process. These NFTs hold significant value, with a floor price of approximately $1225 (0.775 ETH) as per OpenSea.
Despite the initial rush, y00ts enthusiasts are urged to complete their migrations by October 22, 2023. Post this date, a substantial 33.3% royalty fee will be imposed on trading NFTs on Polygon, emphasizing the platform’s commitment to fostering activity on the Ethereum network.
Technical details and challenges of y00ts’ migration bridge
Powered by Wormhole Crypto’s cross-chain NFT standard, y00ts’ migration bridge promises a secure and efficient process. However, it’s essential to note that Ethereum validation might take up to an hour before minting, with a migration limit of 30 NFTs per user. To ease this waiting period, y00ts advises users to “just chill,” assuring them that their tokens are in transit. Efforts are underway to enhance the speed of this validation process, which is notably quicker on Polygon.
One critical distinction is the exclusive operation of y00tpoints on the Ethereum network. Unlike staking, simply holding these tokens in a wallet ensures their functionality within the Ethereum ecosystem.
y00ts’ community sentiment and future outlook
While the migration has been met with both excitement and apprehension within the y00ts community, the project’s creators at Dust Labs remain steadfast in their goal. This move marks a significant step towards creating a diverse and thriving NFT ecosystem accessible across multiple blockchain networks.
The team continues to monitor the transition, addressing concerns and ensuring a seamless migration experience for all users. As the crypto world watches this historic move unfold, y00ts is positioned as a trailblazer in the ever-evolving landscape of cross-chain NFT communities. Stay tuned for more updates as y00ts shapes the future of decentralized digital assets.