OVER started its project using the Ethereum blockchain as the foundation for its OVR token.
This happened at a time when alternatives to Ethereum were really impractical, as the bulk of the community of developers and users (whales in primis) were on this chain.
Since that moment, Ethereum has actually done nothing but grow further (not only in price, but also in terms of use), leading to a sort of saturation of the network, which forced to pay very high gas fees for each transaction. It has long been known that Vitalik's project will aim to make the number of transactions much more scalable with "Sharding" (and not with the much more current Merge).
This situation forced the OVER team to also create OVR linked to Binance (by far the most capitalized CEX on the market), however aiming to migrate the entire project to Polygon.
Polygon is a Layer2 of Ethereum, i.e. a much faster parallel chain, which periodically synchronizes with Ethereum allowing users a much smoother User Experience and lower costs (sacrificing little of Ethereum's security). OVER completed the migration process in the first quarter of 2022, just in time for the bear market.
At the moment, transactions have actually dropped a lot both in terms of the purchase of the NFT and the token itself. The desired migration has not been seen at the moment ... Until now ...
Looking at the fundamentals, in fact, after OVER a series of very important players landed on Polygon, of the caliber of Instagram and Facebook, Disney, Mercedes.
Furthermore, for the most attentive, news regarding both the entry of new investors and the release of the token from the IBCO (which will bring greater volatility) are filtered (at different times).
What does it mean? Let's explore it in the next article!