Next Steps For One Immortl

GERMANY, December 27, 2022 /EINPresswire.com/ -- Approaching a year now since its IDO on Harmony, our core team has decided to fully migrate and integrate with Polygon. Though we have made it clear leaving DEXs on Harmony by bridging to both Polygon and Binance Smart Chain, we will be fully detaching One Immortl from Harmony. This is an essential step to not only further grow the company, but align our values with our future goals and processes. It was a year filled with learning and as we are all aware, a truly rough year for blockchain. Our decision was influenced by a number of reasons, but the most influential being Polygon, along with Polygon Studios, and their continuous support for One Immortl and what we are building.

The Story Behind it All
Harmony, a layer-1 blockchain network using proof-of-stake (PoS) consensus, suffered a hack of $100 million on its Horizon Bridge earlier this year. The bridge facilitated cross-chain transfers of digital assets between Harmony and the Ethereum network, Binance Smart Chain and Bitcoin at a 1:1 ratio. This event spiraled to the depegging of stable coins and all assets on Harmony thus leading to the loss of confidence from investors along with a rapid withdrawal of liquidity. The bridge has since been halted. Luckily, prior to this happening, we had bridged to Binance Smart Chain and Polygon and were able to disperse our liquidity on our utilized DEXs. Several projects have since left, yet we hoped for a positive turn of events. Unfortunately with the mismanagement and lack of an intriguing road of recovery of Harmony, the One Immortl team has decided to move on in the best interest for the project.

Why Polygon?
One Immortl, as well as its One Nation café, have always held sustainability as one of its greatest core values. With Polygon’s network reaching carbon neutrality back in June of this year and bringing tremendous value to blockchain with its path to becoming carbon negative, One Immortl will transition its focus to building on Polygon. Through its vision for sustainable development, Polygon’s Green Manifesto has vastly appealed to the One Immortl team.

The growth of Polygon (MATIC) in web3 has been significant in recent years. Polygon, a layer 2 scaling solution for Ethereum, provides fast, low-cost transactions for decentralized applications (dApps). MATIC has seen a surge in popularity and adoption among dApp developers and users, thanks to its ability to handle high transaction volumes and provide faster transaction speeds than the Ethereum mainnet. Overall, the growth of MATIC in web3 has been driven by its ability to provide scalable and efficient solutions for dApp development and usage, as well as its partnerships and innovations within the space.

Progressing Forward
As the Immortl product evolves and becomes more involved with Polygon, the prospect for a token upgrade on Polygon becomes more clear and sensible.

What to expect:

One Immortl will launch a new edition to the Immortl token on Polygon.

This token will come with a new tokenomics, built around the experience and knowledge gained throughout the year. It will allow One Immortl to not only grow but give its user and holders more value by using Immortl.

We are currently planning multiple funding rounds with partners in order to further grow our community and token holder base.

As our project reaches the final stages of the V2 release, tech improvements will include:

- Seamless swapping: Through the use of the Immortl DEX aggregator.
- Upgraded UI and UX: A more user-friendly upgrade.
- Escrow Services: Providing a system in place for better security by receiving and disbursing funds via smart contract until the buyer and seller have fulfilled their contractual requirements.
- Fiat On- and Off-ramping: Holders or users can now fiat on- and off-ramp using the Immortl wallet
- Invoice Generation: Allowing seamless B2B and B2C transactions. A payment system built for retailers and merchants to accept payments and easily raise invoices for quicker transactions and security.
- Immortl NFTs: Holder of Genesis NFTs will be able to swap with better to even zero fees, receive higher rewards, and other further benefits.
- Carbon Offsetting.:This integration will reduce Immortl’s emissions by 100%, making offsetting the entire carbon footprint a goal that’s soon achievable. These same steps are also being taken by its One Nation café.

With assistance from Polygon, the Immortl team will be able to quantify past and current emissions, as well as the emissions of all employees, offices, and One Nation Cafes.

Obtaining the carbon credits necessary to do this will be negotiated through Polygon and an undetermined third-party.

One Immortl and One Nation Cafes have always prided themselves on their commitment to sustainable energy, and green initiatives. Going forward, green energy integration and purchasing carbon credits will be paramount to both One Immortl and One Nation.

IMRTL Token Holders

The value of the token will remain the same. By way of our dApp, users will be able to exchange their tokens in our widget for One Immortl’s new edition token. Holders will receive the equivalent of value of the tokens.

We will provide more info to this all as we approach an announcement for the official date of relaunch.

About Polygon

Polygon is the leading blockchain development platform, offering scalable, affordable, secure and sustainable blockchains for Web3. Its growing suite of products offers developers easy access to major scaling solutions including L2 (ZK Rollups and Optimistic Rollups), sidechains, hybrid, stand-alone and enterprise chains, and data availability. Polygon’s scaling solutions have seen widespread adoption with tens of thousands of decentralized apps, unique user addresses exceeding 174.9M and $5B+ in assets secured. The network is home for some of the biggest Web3 projects such as Aave, Uniswap, OpenSea and well-known enterprises including Robinhood, Stripe and Adobe. Polygon is carbon neutral with the goal of leading the Web3 ecosystem in becoming carbon negative.

If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure transactions for your dApp, get started here.

Denis Stolper
One Immortl
info@one-immortl.com
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