OVER started its project using the Ethereum blockchain as the foundation for its OVR token.
This happened at a time when the alternatives to Ethereum were really impractical, as the majority of the developer community and users (whales first and foremost) were on this chain.
From that moment on, Ethereum has actually done nothing but grow further (not only in price, but also in usage), leading to a sort of network saturation that forced users 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 has 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, meaning a much faster parallel chain that periodically syncs with Ethereum, allowing users a much smoother User Experience and lower costs (sacrificing a 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 significantly both for the purchase of NFTs and for the token itself. The hoped-for migration has not been seen yet... So far...
After OVER, indeed, a series of very important players have landed on Polygon, such as Instagram and Facebook, Disney, Mercedes.
Additionally, for the most attentive, news is filtered (at different times) regarding both the entry of new investors and the detachment of the token from the IBCO (which will bring greater volatility).
What does it mean? We will delve into it in the next article!
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