Lucidao Update 0.5 | April — Week 4 [#THESWITCH]
Dear Lucidao Community,
The big news this week is the proposal made by Arcanum Capital, Lucidao Team and Polygon Studios to switch Lucidao Ecosystem from Fantom Opera to Polygon Network. You can find the Pre Lucidao Proposal (PLP) here.
One of the strategic reasons for this proposal is their close collaboration with Sandeep Nailwal, Polygon co-Founder, who recently joined Arcanum as a Strategic Limited Partner.
As a reminder, Sandeep has also personally participated in the last investment round, more information here in an earlier Medium Article.
Polygon, formerly known as Matic, is the leading layer 2 scaling solution to Ethereum with 1 billion transactions in 2021; it has quickly grown into a multi-billion dollar network that hosts some very popular projects and is regarded as a fast, secure, affordable and energy-efficient network for Web 3.0. Polygon has also finalized a $450m fund raising in February from institutional investors such as Sequoia Capital India and Softbank Vision Fund II.
From the latest Nansen report (Q1 2022), Polygon steadily holds over 400k daily active users and over 11,000 teams are building dApps on the network. Lately, it has onboarded several household names projects such as AAVE, Dolce & Gabbana and OpenSea.
Both Lucidao Core Team and Arcanum’s Team believe that Polygon and its dApps are moving in the right direction towards real-world utilization of blockchain technologies and that Polygon is setting the foundation for new and existing businesses to access these blockchain and cryptocurrency opportunities for the masses along with the vision of Lucidao.
If the PLP gains enough traction amongst the community, it will be moved to a FLP on Monday 2nd May and will be put to vote by the community for a period of 3 days, please find here the delegation and voting procedure. When it’s time to vote, you’ll be able to do so here on the governance website.
Don’t forget to follow our channels to keep up to date on upcoming developments!
- Discord: https://discord.gg/lucidao
- Telegram: https://t.me/lucidao
- Twitter: https://twitter.com/Lucidao_