In a recent development, Y00ts, a blockchain-based platform, has launched a bridge from Polygon to Ethereum, which is accessible via Phantom Shortcuts. This new feature allows users to migrate their assets without staking on Ethereum, a move that has been met with mixed reactions from the community.
The bridge was implemented by Y00ts within a week and is powered by Wormhole's cross-chain Non-Fungible Token (NFT) standard. The process involves the validation of bridge transactions on Polygon following their settlement on the Ethereum Mainnet.
Users have been given until Saturday, October 22, 2023, to complete the migration process. This may take up to an hour due to the expected high traffic on the platform. To incentivize early migration, Y00ts is covering first-day gas fees and offering a reward of randomly distributing 10 y00ts to the wallets of early migrators.
However, after the deadline, users will be subject to a 33.3% Paper Hand Bridge Tax on Polygon. Despite this tax, users will still have the ability to mint NFTs on Polygon.
While some in the community have expressed concerns about these changes, others have appreciated Y00ts' efforts in facilitating asset migration and are looking forward to more updates from the company in the near future.
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