MahaDAO announced a strategic plan to launch ARTH 2.0 on Polygon. ARTH 2.0 is V2 of MahaDAO’s decentralized algorithmic currency over-collateralized fractional reserve currency. The ultimate goal of launching ARTH 2.0 is providing low-cost transactions and fast finality for ARTH holders.
MahaDAO believes the partnership with Polygon can be a strategic step toward attracting more users and holders for its cryptocurrency. It’s the first step, and the ARTHX token and the ARTHX Genesis will launch on Polygon in the future.
Low-Cost Transactions for MahaDAO Users
New blockchains like Polygon are aiming at disrupting the DeFi industry with innovative and low-cost services for developers and users. It’s the reason we see many projects migrate to new platforms. MahaDAO is the latest to try this migration and plans to launch ARTH 2.0 mainnet on Polygon. It means ARTH transactions will need lower costs for users. The launch will have lots of exciting results for ARTH holders and MahaDAO users.
The launch of ARTH 2.0 on Polygon comes with some steps for users. The most important one is the migration of ARTH tokens to v2. After the migration, users can connect to the Polygon bridge. As mentioned above, other tokens like the ARTHX token and the ARTHX Genesis will migrate, too. MahaDAO says that users can convert ARTH token to MAHA into a 1:1 ratio.
MahaDAO will distribute ARTH Genesis tokens starting on June 22nd. The distribution will be carried out until June 29th. You need collaterals for receiving ARTH tokens. The platform supports MATIC, USDC, and USDT as collaterals for now.
ARTH 2.0 will finally go live on Polygon blockchain on June 29th. The new decentralized algorithmic currency over-collateralized fractional reserve currency aims at solving many of the current stablecoins’ challenges and hopes Polygon partnership will be a great starting to do so. According to the announcement:
“MahaDAO understands the need for over-collateralization, and to address problems with current decentralized stable coin cryptocurrencies, ARTH v2 will be improving on all fronts. MahaDAO is set to unveil the new avatar of their version of what a stable currency should be — Stable. Valuable. Secure.”
Polygon blockchain benefits a lot from new projects launching on the blockchain. The easy-to-use platform for Ethereum scaling and infrastructure development aims for higher goals by partnering with more projects. The latest partnership with MahaDAO can surely result in good opportunities for the whole ecosystem.
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