March 2022 Community Update
It’s been a quiet month in the market, but we see a tiny boost in the market the last few days, particularly for the slight uptick in the Cardona and Solana ecosystems.
We’ve explored in our articles this month about the rise of these platforms and why there was such a need within the community. From the rise of DeFi and the boom of NFTs that resulted in all-time high ETH prices; the resulting gas prices that made it difficult to do business drove the industry into the promise of alternate ecosystems. Clearly the need for these ecosystems holds promise, as developers have also flocked to these platforms.
What gives these platforms promise? Clearly lower transaction fees and speed allows it to have advantages for a certain type of utility. However those new to the ecosystem may find the information spread out and perhaps even a little difficult to test out.
How many in our community use these other platforms and which are your go-tos? Did you begin dabbling when the ETH gas fees hit all-time high, or did you join as part of the NFT drive?
We’re looking forward to launching another round of OpenSwap campaigns in the months to come, and the team over at OpenSwap has been making some exciting updates, including their OpenSwap Bridge being available on the Testnet.
This is the first step in many that the team has been working on to address the issue of interoperability, with the bridge supporting BSC Testnet and Avalanche. We can’t wait for it to be launched on the mainnet and to see what bridge will be next! Hopefully as the crypto winter begins to thaw, we’ll have more exciting projects blooming!