Solana Ecological PFP Project DeGods Opens Migration to Ethereum Network

04/01/2023 03:11 • Digital Disruptors • 85 views

On April 1st, it was reported that the Solana Ecological PFP project DeGods has opened its migration to the Ethereum network to DeGods NFT holders, and DeGods will pay the migration gas fee within the first 24 hours. DeGods will waive the DUST pledge/cancellation fee on ETH within the first 48 hours. In addition, the Paper Hands Bridge Tax will become effective from April 3. All remaining DeGods and y00ts on Solana will be updated with a mandatory royalty of 33.3%. T00bs will remain on Solana and receive a 3.33% royalty. DeGods on Ethereum will receive a royalty of 0.33%.

DeGods is open for migration to the Ethereum network, where DeGods will charge a royalty of 0.33%

Are you a DeGods NFT holder looking to migrate to the Ethereum network? Well, the good news is that the Solana Ecological PFP project DeGods has recently opened its migration to the Ethereum network. In this article, we’ll discuss all you need to know about the migration and the latest developments in the DeGods ecosystem.

Migration Details and Benefits

Reported on April 1st, DeGods has made its migration to the Ethereum network available to all DeGods NFT holders. To make the transition easier, DeGods is offering to pay for the migration gas fee for its users within the first 24 hours of the migration opening. Furthermore, for the first 48 hours, the DUST pledge/cancellation fee on ETH will be waived, making the migration process even more affordable for users.
So, what benefits do DeGods users stand to gain by migrating to Ethereum? For starters, Ethereum is a much more widely adopted blockchain network, which means DeGods NFTs will become more accessible to a larger audience. Additionally, Ethereum offers functionality that Solana does not yet have, such as smart contract interoperability tools and more robust decentralized finance (DeFi) options.

Paper Hands Bridge Tax and Royalties

From April 3rd, the DeGods ecosystem will implement a Paper Hands Bridge Tax. The tax is an attempt to encourage DeGods NFT owners to hold onto their tokens long-term. A Paper Hand is often used to refer to an investor who sells an asset quickly after any negative news instead of holding onto it. This tax aims to discourage that behavior by making it more expensive to sell quickly.
All remaining DeGods and y00ts on Solana will be updated with a mandatory royalty of 33.3%. For those who may be unfamiliar with the terms, y00ts are fractionalized DeGods NFTs that allow for multiple owners of a single artwork. On the other hand, T00bs will remain on Solana and receive a 3.33% royalty. DeGods NFTs on Ethereum will receive a royalty of 0.33%.

Conclusion

DeGods’ migration to Ethereum is an exciting development for the DeGods ecosystem. A more significant audience will now have access to DeGods NFTs, and the new functionality and DeFi options on Ethereum make for a more vibrant and diverse market. Despite the new changes, the DeGods community may have to adjust to the new tax policies and royalty rates.

FAQs

1. Will the migration process affect my DeGods NFTs in any way?
No, your DeGods NFTs will remain intact throughout the migration process. Your NFTs will merely be transferred from Solana to the Ethereum network.
2. How can I migrate my DeGods NFTs to Ethereum, and what do I need to get started?
To migrate your DeGods NFTs to Ethereum, you’ll need to connect your Ethereum wallet to the DeGods migration portal. From there, you can follow the necessary steps to complete the migration process.
3. What is the cost of migrating my DeGods NFTs to Ethereum after the first 24 hours?
If you migrate your DeGods NFTs after the first 24 hours of the migration opening, you will be responsible for the migration gas fee. However, the DUST pledge/cancellation fee on ETH will still be waived within the first 48 hours of the migration.

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