$SOS is live on Polygon!
We are excited to announce that Polygon Bridge will be supporting OpenDAO and our $SOS token!
Now $SOS token holders will have access to Polygon Bridge’s fast speed and low cost when bridging between Ethereum and Polygon. The bridged token can be viewed at https://polygonscan.com/token/0x8c059898ca6274750b6bf1cf38f2848347c490cc and to avoid confusion, it will be called $mSOS (Matic $SOS).
With the full support of Polygon, $SOS holders can now easily bridge their token to the matic PoS chain, and enjoy using $mSOS in low gas environments.
What is Polygon?
Polygon is a protocol and a framework for building and connecting Ethereum Virtual Machine (EVM)-compatible blockchains. Polygon effectively transforms Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains). Polygon combines the best of Ethereum and sovereign blockchains into a full-fledged multi-chain system.
What does it mean for developers?
Polygon SDK for developers currently support two main types of solutions:
- Secured chains (aka Layer 2 chains): Scaling solutions that rely on Ethereum for security. Polygon will support other major Layer 2 solutions such as Optimistic Rollups, zkRollups, Validium, etc, thus becoming a one-of-a-kind “Layer 2 aggregator”. For end users, this might mean that you can bridge $mSOS across different Layer 2 solutions in the future.
- Stand-alone chains (aka Sidechains): Is similar to what is currently being used in the Matic POS Chain which uses Ethereum for validator staking and periodical finality checkpoints.
What does it mean for artists and entrepreneurs?
Artists and entrepreneurs can build projects with $mSOS as a governance and utility token out of the box, while enriching the ecosystem of the Polygon chain.
There is a prosperous and rapidly expanding ecosystem built on the Polygon chain. Today, Polygon’s scaling solutions have seen widespread adoption with 3000+ applications hosted, 1B+ total transactions processed, ~100M+ unique user addresses, and $5B+ in assets secured.
A match made in heaven.
OpenDAO’s vision is for $SOS to become a central asset for the metaverse and web3. To build utility for $SOS, such as minting with $SOS, trading with $SOS on NFT marketplaces, implementing $SOS in games and projects as well as use as a governance token in NFTs, games and virtual land projects.
As one of the most adopted scaling solutions to Ethereum, Polygon DAO looks for projects that embody the ideals of decentralization, openness and transparency.
The OpenDAO wants to promote NFT communities through a decentralized and transparent manner.
The OpenDAO and Polygon DAO are in perfect alignment.
So, how do I bridge my $SOS to Polygon to become $mSOS?
2. Click on Ether and search for SOS token
3. Choose how many tokens you want to bridge, and follow the instructions.
4. Please take note that there are TWO transactions that are required.
The first transaction is to approve the contract to access your $SOS tokens.
The second transaction will confirm the transfer.
Then after waiting for a few minutes, the $mSOS will appear in your Polygon wallet, after the transaction has been confirmed by the Ethereum network.
If you do not see it in your metamask, go to the token address here, and add the token to your wallet. Click on the 3 dots on the top right hand corner.