Snapshot proposal #4 – Should we bridge part of the supply to the Polygon network?
The utility and distribution of the Marte token are essential for the project, but they are negatively affected by Ethereum gas fees. The problem is aggravated because of the high withdrawal fees on Roll platform. In the case of $MARTE, Roll fees can multiply several times the cost of a regular transaction in Ethereum.
This makes community users unable to use and trade the token, so we believe the only solution is to bridge part of the supply to a Layer 2. We consider the Polygon network as the best option in our case.
The project was created in 2017 to fix Ethereum scalability issues. It acts as a the second level, which was a kind of add-on over Ethereum.
Polygon takes advantage of the security and openness of the Ethereum ecosystem and removes the old barriers of interoperability and scalability of many blockchains.
These are just some of the features that make us consider Polygon as the best solution for the evolution of The MARTE Project:
- The Polygon network is compatible with the Ethereum based smart contract of our token, so tokenomics will not be affected.
- Fees on Polygon are several times lower than Ethereum network fees. Gas fees are paid with Matic, so a small amount is needed to operate.
- The processing speed of transactions on Polygon is higher than on Ethereum network. While Ethereum processes 30 transactions per second, Polygon is capable to process more than 65,000 TPS.
- The Polygon network operates using the Proof-of-Stake protocol. We consider it much more efficient and respectful to our planet than the Ethereum Proof-of-Work protocol.
- The Matic mainnet can be added to Metamask, so it will be easy to interact with Web3 dApps and other services we will adopt in the following months.
- We also have considered the NFT marketplaces that have implemented this L2 or plan to do so soon, and in which $MARTE can be used as payment.
Motivation & Benefits
- Make easier the rewarding of community members who collaborate in the development and growth of The MARTE Project.
- Promote the use and investment in $MARTE, which would mean an increase in trading volume.
- Give all MARTE holders the chance to participate in DAO proposal votings of this Snapshot space.
- Increase the utility of the token, since it will be available in Polygon NFT marketplaces, such as OpenSea.
- In a first phase, 625.000 $MARTE will be sent by the Proof of Stake (PoS) bridge. We will use for that:
Half of the supply reserved for the team (5% of the total supply): 500.000 $MARTE
Half of the supply reserved for airdrops (1.25% of the total supply): 125.000 $MARTE
- When the transference will be complete, we will create a MARTE-MATIC liquidity pool in Quickswap. Please follow only the addresses shared on our website and official channels.
- For a limited period of time, we will offer to bridge tokens from Roll to Polygon. We do this in order to avoid unnecessary expenses to Roll, as well as to their users. The transfer of tokens from Roll wallets to Polygon wallets of the holders will be offered free of charge. The instructions will be published on our website themarteproject.com
Start date: May 2, 2022, 12:00 PM
End date: May 9, 2022, 12:00 PM
Yae: 5 votes – 18k MARTE voting power.
Nay: 0 votes.
Polywhat?: 0 votes.
POAPs are already available to claim on the proposal page.
Thanks for your participation!