Once your business story has been told, how do you scale its visibility in such a way that it is relatable to those outside of your circle? To onboard billions of people onchain, it’s crucial to communicate our stories using words and terms that a broader audience can easily understand. This thought came to mind when I read about the launch of an innovative solution, ‘Supermigrate.’
This newsletter will help you understand what Supermigrate is all about and how they are playing major roles in L2 adoption, even if you’re not familiar with blockchain terms or are new to the space.
First off: What are Layer 1 (L1) and Layer 2 (L2) Networks?
Layer 1 (L1): Think of this as the main street in a city where everyone does their business. It’s the original and primary network where transactions happen, like the Bitcoin or Ethereum blockchains. However, it can get crowded and expensive.
Layer 2 (L2): These are side streets built off the main street. They handle more traffic cheaply and quickly. They connect to the main street but help reduce congestion and costs.
Why Is a Tool Like Supermigrate Necessary?
The Problem: The current process of moving from L1 to L2 is complicated and time-consuming. It involves multiple steps and different services, making the whole process confusing and prone to mistakes.
The Challenges:
Multiple Steps and Interfaces: You have to deal with different services and platforms for each part of the move, each with its own set of rules and requirements.
Manual Work: You have to monitor each step, ensuring everything goes smoothly, which takes up a lot of time and effort.
Risk of Errors: With so many steps and platforms, it’s easy to make mistakes that could slow down or complicate the move even more.
Lack of Automation: There’s no simple way to connect all these steps, so you have to manage each part manually, which can be frustrating and confusing.
The Solution:
Supermigrate is a tool that helps projects and developers move their work to more efficient and cost-effective networks. Think of it as a moving service that helps shift a business from a crowded, expensive location to a more affordable, spacious one. Supermigrate aims to make this whole process easier and more efficient by:
Streamlining Steps: Combining all the steps into one smooth process so you don’t have to switch between different services.
Automating Tasks: Reducing the amount of manual work you have to do, so you can focus on what’s important.
Reducing Errors: By simplifying and automating the process, the chances of mistakes are minimized.
Saving Time: Making the move faster and less demanding, so you don’t have to spend so much time and effort.
Why Use Supermigrate?
The Goal is to make it as easy as possible for developers to use these more affordable networks. By making it more accessible and solving current issues like high costs and slow transaction times.
Benefits:
Cost Savings: Moving from L1 to L2 can save money because transactions on L2 networks are cheaper.
Efficiency: L2 networks handle more transactions faster, reducing wait times.
Ease of Use: Supermigrate makes the process of moving to L2 networks simple and straightforward.
How Supermigrate Accelerates L2 Adoption
Deploying Canonical Tokens:
What It Means: Imagine you have digital assets (like digital money) on the old network. Supermigrate helps you quickly and easily create these same assets on the new, cheaper network.
How It Helps: This makes it easy for projects and individuals to move their assets to the new network, where transactions are faster and cheaper.
Bridging Interface:
What It Means: Think of this as a bridge that lets you move your digital assets smoothly from the old network to the new one without hassle.
How It Helps: By integrating this bridge into its platform, Supermigrate makes it easy to transfer your assets between the old and new networks, saving you time and effort.
Liquidity and Incentives:
What It Means: Liquidity is like having enough cash available to make transactions easy and quick. Supermigrate makes it simple to provide this cash flow for new digital assets on the new network.
How It Helps: Tools are provided that allow you to support new projects by adding liquidity, which makes the new network more functional and attractive. Plus, rewards are offered for those who help provide liquidity, encouraging more people to participate.
Why This Matters:
Simplified Process: Everything you need to move your project to the new network is in one place, making the whole process easier and less confusing.
Cost Savings: Moving to the new network can save money because it’s cheaper to operate there.
Enhanced Convenience: With integrated tools, you don’t have to juggle multiple platforms and steps; everything is streamlined and user-friendly.
Increased Adoption: By making it easier and more rewarding to move to the new network, more projects will make the switch, helping the new network grow and improve.
Start migrating today!
Partner Collaboration: Other networks are invited to join and work together to expand the platform. Interested parties can contact Supermigrate via twitter, telegram or via integrations@metastablelabs.xyz) to start a partnership.
Simplify, save and scale like never before!
Find out how to migrate your tokens using Supermigrate
Thank you for reading about Supermigrate. The team looks forward to simplifying your migration journey to L2 networks!
