Polygon will offer interoperability to its supernets after a partnership with Axelar, a blockchain network for secure communications for Web3.
One of the first networks to join Polygon Supernets is Axelar, the blockchain designed to offer secure cross-chain communication and ensure interoperability in the Web3 ecosystem.
Polygon Network, the leading scaling solution for Ethereum, is putting blockchain and Web3 innovation in the hands of thousands of users in an accessible way. Polygon developers are building real-world use cases for the new technologies, which will further drive the onboarding of millions of people to Web3.
The arrival of the Axelar network to the Polygon ecosystem is another step in this direction. Axelar will integrate with Polygon Supernets to facilitate the secure transfer of assets to and from Polygon supernets and any other chain connected to its ecosystem.
Polygon Supernets CEO Parth Pathak said that Axelar's cross-chain infrastructure will enable developers Build cross-chain decentralized applications or DApps on Polygon Edge with access to liquidity and Web3 functionality. Axelar co-founder Sergey Gorbunov said the partnership between his blockchain and Polygon Network will unlock access to the most exciting DApps from leading metaverse projects, gaming, DeFi, and more.
What are the benefits of the partnership between Axelar and Polygon?
The partnership with Axelar will enable Polygon to build a more complete and interconnected Web3 ecosystem, while giving developers the ability to integrate more complex operations into their DApps.
Pathak cited as examples the possibility of accessing cross-chain lending and borrowing using NFTs as collateral, as Axelar’s partnership with the Polygon ecosystem will allow users to move their tokens or NFTs across multiple interoperable supernets.
Axelar will also help Polygon Supernets establish itself as the leading infrastructure for building an interoperable Internet of blockchains compatible with the Ethereum Virtual Machine (EVM). This ecosystem of chains and supernets is powered by Polygon Edge, the blockchain stack designed by Polygon Network to facilitate the creation and development of customized blockchains that fit the specific needs of each project or application without compromising the security and performance of the network.
Polygon at the forefront of innovation
Polygon has been at the forefront of blockchain innovation in recent months. As we have reported in this medium, the developers of this sidechain, focused on scaling Ethereum, have entered into a series of collaborations and alliances that aim to consolidate Ethereum as a multi-chain ecosystem or, as its developers have called it, “the Internet of Blockchains.”
In recent months, Polygon has entered into numerous agreements with companies inside and outside the crypto industry, such as Bit2Me, Nothing Technology, Mercedes-Benz, Walt Disney, Reddit, Starbucks and, most recently, Nubank.
With each of these partnerships, Polygon has been creating new avenues to access the digital economy that is built on-chain and accelerating its global adoption. In addition, it has also launched a number of products and solutions, such as Polygon Avail, Polygon zkEVM y PolygonID, with which it is adding new functionalities to its ecosystem, to reinforce its objective of being an interoperability framework for blockchain and Web3.
Matic price rises 16%
At press time, the price of MATIC, the native token of Polygon Network, shows an increase of more than 16% in the market in the last week, trading at around $0,93 per unit, according to data from the CoinMarketCap platform.
Continue reading: Polygon is now a carbon neutral blockchain
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