Palm Network to Launch Web3 Creators’ Platform on Polygon Supernet

Palm Community is taking the leap over to Polygon, outlining a brand new roadmap to deploy on the community’s Supernet by 2024.

Led by the creator’s community eponymously named basis, the two-step course of kicks off as we speak, signaling a migration from its present proof-of-authority (PoA) consensus mechanism to a proof-of-stake (PoS) mechanism by subsequent Tuesday.

The second step, slated for subsequent yr, might be a full transfer over to Polygon.

Palm Community was initially constructed as an Ethereum sidechain, providing key instruments to let creators and artists share, create, and promote their works as tokenized belongings. Because of a current merger with Sweet Digital, the community additionally performs host to IP from model names like Main League Baseball and Warner Brothers.

Famend British artist Damien Hirst counts among the many many artists constructing on Palm. He launched his work ‘The Foreign money’ there again in 2021.

The transfer to Polygon in 2024—particularly its highly-scalable app-specific chains known as Supernets—is aimed toward persevering with to scale its suite of instruments for much more model names and artists to make the leap into Web3.

“We need to scale the community to be the go-to vacation spot for any creator that desires to delve into Web3,” Palm Basis director Andrea Lerdo informed Decrypt. “We need to give followers a brand new outlet to work together with their favourite manufacturers, themes, sports activities, or gamers.”

These Supernets are a part of Polygon’s current community improve, which can see its native MATIC token deprecated and introduce the POL token. Polygon 2.0, because the community known as, may also roll out supernets constructed particularly for monetary markets, NFT creation, and different area of interest use circumstances. These Supernets are anticipated to introduce zero-knowledge (ZK) know-how down the road too.

Palm Community leaves the ConsenSys nest

First launched by ConsenSys in 2021, the transfer to Polygon’s tech stack as an alternative of deploying on ConsenSys’ newly launched layer-2 resolution Linea was a uncommon piece of collaboration in such a aggressive trade.

“As we’re attempting to scale the community, Joe Lubin principally reached out to Sandeep to say, we have to carry the community into the following section,” Lerdo mentioned. “We’re all residing in a break market. It’s time to start out collaborating concurrently we compete. And Palm is the proper playground to try this.”

With Polygon offering technical help and ConsenSys providing enterprise growth and advertising, Lerdo admits it’s “a really troublesome time for us within the center.”

Nonetheless, the balancing act is nonetheless “fascinating,” with Lerdo saying that onboarding contributors to Palm “might be useful not just for the businesses, however for the ecosystem typically.”