Fungify x Polygon: The Mainnet is the Testnet
We are thrilled to announce that Fungify has transitioned its testnet to the Polygon PoS Mainnet. This decision was driven by the escalating gas prices that testers have been facing on the Goerli chain, thanks to the innovative LayerZero bridge giving gETH a monetary value.
Testooor sign-ups opened just three weeks ago, and have elicited an enthusiastic response, with over 1000 individuals signing up 🥳. The first wave of accepted users included long-standing Fungify community members, whose insightful feedback has been invaluable. However, surging gas costs emerged as a major obstacle. To circumvent this and extend our testing to a broader audience, we found the most effective solution in Polygon PoS Mainnet.
Polygon, an EVM compatible chain, offers significantly lower transaction costs while being a closer replication of the actual production environment. Testnets like Sepolia have yet to implement significant parts of the DeFi infrastructure stack, even as Goerli grows closer to deprecation.
Yoots NFT Collection Joins the Index on Polygon
In conjunction with our transition, we're excited to announce the addition of the Yoots NFT collection to our index. Yoots is a prominent NFT collection on the Polygon Network, boasting the highest trading volume on the chain. Its integration into our index will diversify the offerings available to our users.
In order to gain access to to the Fungify Testnet, start by joining our Discord Community and navigate to the #testnet-entrance channel. There, submit your address for approval. Once your address has been approved, proceed to https://testnet.fungify.it/ where you can mint your mock assets.
By doing so, you will receive mock NFTs and mock USDC, allowing you to short or long the NFT index or borrow against your NFT to leverage your position. While you experience the app, metrics will track your PnL helping us monitor your progress
Rewards for Beta Testers
To mark our transition to Polygon and to motivate the invaluable input from our testers, we're creating incentives that will reward engagement and feedback. Find out more on the Fungify discord.
The Road Ahead
Our transition to Polygon for the beta testing phase is just one part of our wider strategy. We are dedicated to developing and releasing the Fungify app on the Polygon PoS network, following our initial release on the Ethereum Mainnet.
Join us on Discord.