The NFT protocol Aavegotchi has announced its migration from Polygon to Ethereum layer 2 Base.
Aavegotchi's Move to Base
On April 8, the Aavegotchi community voted 93.5% in favor of migrating to Base, opting to sunset their smart contracts on Polygon. Aavegotchi founder Dan noted that the decision was strategic given the current ecosystem.
Polygon's Challenges
Aavegotchi's decision highlights Polygon's struggles to retain users and total value locked (TVL) against competing Ethereum layers. Polygon's TVL has declined from nearly $10 billion in 2021 to approximately $725 million as of April 8.
About Base and Aavegotchi
Base is an optimistic rollup launched by Coinbase in 2023. Aavegotchi was created in collaboration between Pixelcraft Studios and Aave, representing NFTs that can be customized and traded.
Aavegotchi's transition to Base highlights shifts in the cryptocurrency market dynamics and developer efforts to adapt to new conditions. It also illustrates how different blockchains compete for user engagement.
