VersoView, the engage-to-earn social media platform, is excited to announce its migration to Polygon, the premier full-stack scaling solution.
As VersoView continues to define a new engage-to-earn paradigm, an underlying chain migration off of the Ethereum main chain has been underway for some time. Given the technical demands of the VersoView platform, it has become necessary to migrate the $VVT ERC20 token onto Polygon, a full stack scaling solution for Ethereum, known for fast transactions and low fees.
Why is VersoView moving to Polygon?
Simply put, Polygon is a scaling solution for Ethereum. As a full-stack scaling solution built on top of the Ethereum blockchain it remains compatible with the existing ERC20 framework. Polygon scales the Ethereum blockchain acting as a sidechain that mitigates congestion issues, improving transaction speed and reducing the costs of blockchain transactions. Polygon transactions use the native token $MATIC for gas, rather than $ETH.
The VersoView platform thrives on vast numbers of microtransactions, which demand higher throughput and lower fees than Ethereum can currently support. Users who engage with content on the VersoView platform are continuously earning tokenized rewards.
Imagine a user required to spend $100 in gas to claim $1 worth of rewards!? Integrating with Polygon solves this technical challenge and will drastically reduce gas costs, enabling us to move towards our goal of providing a ‘gas-less user experience’ and allow transactions to be processed quickly, which all contribute to an end-user experience that is frictionless and enjoyable.
The Polygon ecosystem offers VersoView many exciting new communities to engage with and integrate into the VersoView ecosystem. As seen by our many high-quality partnerships, VersoView has always valued relationships with other projects and their audiences, both within the blockchain industry and with non-crypto native entities.
What does moving to the Polygon network mean for VVT tokenholders?
There are a lot more details to this platform migration, and additional articles will follow, including timelines and what the community can expect throughout this process. The good news is, $VVT will continue to be supported on Ethereum main chain, with both Uniswap and Bittrex Global supporting trading of the ETH native token contract. There is no requirement to migrate Ethereum based $VVT ERC20 tokens to the Polygon blockchain, unless you choose to, and there will be instructions coming for those who choose to do so.
Alex Moody, COO, VersoView:
“The VersoView business model relies on high volumes of low-cost microtransactions, and Polygon is the ideal scaling solution for us, thanks to its fast TX speeds and low gas-fees. We’re looking forward to releasing the VersoView open BETA in early 2022, so we can demonstrate exactly why Polygon was the obvious choice for VersoView.”
Julian Jordan, CEO, VersoView:
“This move to Polygon takes us closer to achieving our mission of empowering content creators to engage with, and reward, their communities. Aside from the practical and technical benefits, this chain migration allows us to integrate with the Polygon ecosystem. We look forward to collaborating on technical integrations as well as business development to marketing initiatives and we are very excited for this next chapter of VersoView’s story… written on Polygon.”
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium, etc, and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 350+ Dapps, ~128M txns, and ~1M+ unique users.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.
VersoView is an engage-to-earn social media platform featuring meaningful tokenized rewards.
Brands, businesses, educational partners, organizations and publishers can host and engage their communities around their content and reward them with branded Social Tokens within the VersoView ecosystem.