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Aavegotchi, a prominent $NFT protocol, has officially transitioned from Polygon to Base, a decision reflecting strategic shifts in Web3 gaming dynamics.
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This move comes in light of Aavegotchi’s community voting overwhelmingly in favor of redeploying its smart contracts on Base due to stagnating growth on Polygon.
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Pixelcraft Studios’ founder highlighted in a recent statement, “Given our close relationship with the Base team, we believe this is the most +EV move for Aavegotchi right now,” reinforcing the sentiment among community members.
Aavegotchi transitions to Base from Polygon after community support, emphasizing their strategic shift amid stagnating market conditions and $NFT challenges.
Strategic Shift: Aavegotchi’s Migration from Polygon to Base
Aavegotchi’s transition marks a pivotal moment in the $NFT and gaming landscape as it seeks to leverage the strength of the Base ecosystem. This decision was solidified through a community-backed onchain vote, where an impressive 93.5% of participants favored the proposal to migrate from Polygon. Such overwhelming support underlines a significant shift in the perceptions of users regarding the platforms’ potential for growth and sustainability in the current market climate.
Understanding the Implications of Polygon’s Declining TVL
The decision to shift to Base underscores Polygon’s struggles, particularly with its total value locked (TVL), which has seen a stark decline from nearly $10 billion in 2021 to approximately $725 million today, as noted by DeFiLlama. This decline points to broader concerns regarding liquidity and user engagement within the Polygon ecosystem, especially when compared to competitors like Base and Arbitrum, both of which boast over $2 billion in TVL.
TVL serves as a crucial indicator of investor confidence and market viability, thus Aavegotchi’s pivot can be seen as a proactive measure to ensure its viability within the evolving Web3 landscape.
Base vs. Polygon: A Comparative Analysis from Aavegotchi’s Perspective
Aavegotchi’s founder, Dan, articulates key reasons behind this strategic pivot, emphasizing the stagnation of updates on Polygon. He pointed out, “Polygon has not shipped any significant updates or features to enhance ecosystem coherence or discovery for gaming,” suggesting that innovation remains critical in attracting and retaining users. In contrast, its selection of Base, an Ethereum layer-2 solution, highlights performance and user onboarding effectiveness.
