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Y00ts Launches Ethereum Bridge via Phantom Shortcuts

Explore Y00ts' new blockchain bridge from Polygon to Ethereum, enabling seamless asset migration and minimizing staking requirements.
Published on 2023-10-16

Y00ts Introduces Ethereum Migration Bridge

Y00ts, a blockchain platform, recently unveiled a bridge facilitating asset migration from Polygon to Ethereum. Utilizing Phantom Shortcuts, this innovative feature enables users to transfer assets without the need for Ethereum staking, sparking varied reactions within the community.

Powered by Wormhole's NFT Standard

The bridge was swiftly implemented, taking only a week, and operates on Wormhole's cross-chain NFT standard. It validates transactions on Polygon post-settlement on the Ethereum Mainnet, ensuring a secure migration process.

Migration Deadline and Incentives

Users have a deadline until October 22, 2023, to migrate their assets. Given anticipated high traffic, migrations might take up to an hour. To encourage early participation, Y00ts is covering the first-day gas fees and is offering a reward by randomly distributing 10 y00ts to early migrators' wallets.

Post-Deadline Tax Implications

After the deadline, a significant 33.3% Paper Hand Bridge Tax will apply to transactions on Polygon. Despite this, users retain the capability to mint NFTs on Polygon, making it crucial for users to act promptly to avoid additional costs.

Community Reactions and Future Prospects

The community's response to these changes is mixed. Some users express concerns, while others commend Y00ts' initiative in easing asset migration. Many are eagerly anticipating further updates and developments from Y00ts, highlighting the platform's commitment to advancing blockchain solutions.

This development is part of Y00ts' ongoing efforts to enhance user experience and streamline blockchain operations, promising an exciting future for its user base.

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