OVR, il token di OVER the Reality - Metagate

OVR, the OVER the Reality token

OVER began 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 developer community and users (whales first and foremost) were on this chain.

From that moment, Ethereum actually did nothing but grow further (not only in price, but in terms of use), until it led to a sort of saturation of the network, which forced people to pay very high gas fees for each transaction. It has been known for some time 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 OVRs linked to Binance (by far the most capitalized CEX on the market), aiming however 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 the security of Ethereum). 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 purchasing NFTs and the token itself. At the moment we have not seen the desired migration... So far...

Looking at the fundamentals, in fact, after OVER, a series of very important players have landed on Polygon, such as Instagram and Facebook, Disney, Mercedes.

Furthermore, for those who are more attentive, news has filtered (at different times) regarding both the entry of new investors and the decoupling of the token from IBCO (which will bring greater volatility).

What does it mean? We'll look into it in depth in the next article!!

By Marco Pizzini

Glossary

 

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