1 month ago
Aavegotchi, a non-fungible token (NFT) protocol focused connected Web3 gaming, has opted to wantonness blockchain web Polygon and “go all-in” connected Base, an Ethereum layer-2 scaling chain, according to the results of an onchain vote.
On April 8, Aavegotchi’s assemblage members voted 93.5% successful favour of a connection to “Make Aavegotchi Based Again” by deprecating the protocol’s astute contracts connected Polygon and re-deploying connected Base, according to Aavegochti’s governance page.
“Given our adjacent narration with the Base team, arsenic good arsenic caller developments successful the Base ecosystem […] we judge the astir +EV determination for Aavegotchi (for this cycle, astatine least) is to sunset [its Polygon deployment] and spell all-in connected Base,” Aavegotchi laminitis Dan said successful a February X station proposing the shift.
The migration reflects Aavegotchi’s efforts to accommodate to 2025’s cryptocurrency marketplace downturn, which was worsened past week by President Donald Trump’s program to enforce sweeping tariffs connected astir US imports.
Aavegotchi’s developer, Pixelcraft Studios, has “recently made important squad cuts to trim our pain and widen runway,” Dan said. Memecoins and NFTs person been among Web3’s hardest-hit segments truthful acold this year.
Aavegotchi’s assemblage voted overwhelmingly for the move. Source: Aavegotchi
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Polygon’s level TVL
Aavegotchi’s determination besides highlights Polygon’s ongoing challenges successful maintaining users and full worth locked (TVL) successful the look of contention from Ethereum layer-2 chains, specified arsenic Arbitrum and Base.
Polygon’s TVL has declined from highs of astir $10 cardinal successful 2021 to astir $725 cardinal arsenic of April 8, according to information from DeFILlama. Both Base and Arbitrum each clasp much than $2 cardinal successful TVL, DefiLlama data shows.
TVL is simply a cardinal metric utilized successful DeFi (decentralized finance) to measurement the full magnitude of assets deposited successful a protocol. It not lone reflects idiosyncratic spot and adoption but besides serves arsenic an indicator of disposable liquidity.
According to Dan, Polygon hasn’t delivered immoderate large updates oregon features for gaming protocols. “Polygon has not shipped immoderate important updates oregon features to PoS to alteration amended ecosystem coherence oregon find for gaming.”
Polygon’s maturation has been comparatively level successful caller years. Source: Coder Dan
Meanwhile, “both Base and Arbitrum basal retired arsenic being some performant and ‘lindy’ – capable to basal the trial of time,” Dan said, adding helium prefers Base due to the fact that of the chain’s “stronger retail onboarding.”
Base is an optimistic rollup launched successful 2023 by Coinbase, the US’s largest cryptocurrency exchange.
Aavegotchi was created successful a collaboration betwixt Pixelcraft Studios and Aave, a decentralized lending protocol.
It describes its NFTs arsenic “digital collectibles” that tin beryllium “customized with assorted wearables, specified arsenic hats, glasses, and different accessories [and]can beryllium bought, sold, and traded arsenic NFTs,” according to its website.
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