PolkaBridge development has been gaining steam and our first priority is a smooth / hassle-free launch of our “MultiChain Automated Market Maker (AMM)” decentralized exchange. Currently, we are present on the Ethereum blockchain and we plan to onboard the Polkadot blockchain fully, once it launches with all functionality. However, our mission is ensuring wide compatibility and offering our product to diverse communities. That’s why we plan to launch on Ethereum’s full-stack scaling solution Polygon.
Why Did We Choose Ethereum?
The Ethereum blockchain is the world’s leading smart contracts blockchain in terms of adoption and usage. It powers an overwhelmingly large percentage of the crypto-verse and most prominent crypto-assets are ERC-20 tokens. The blockchain holds the record for the highest fees generated, monetary value settled and number of unique addresses. Ethereum commands the highest number of developers building on the blockchain and it has more users than most other blockchains combined.
But, There’s A Problem
However, Ethereum has a scalability problem. It’s not economical for the average users to transact on the Ethereum base layer, because of two reasons. High fees and even higher processing times. Such an environment is unfeasible for a DeFi ecosystem aiming for mass adoption and usage, which requires fast processing times and low fees to allow everyone to participate.
Luckily, Polygon has a solution. It offers a full stack scaling solution, which uses different methods to scale the Ethereum blockchain by batching tx and optimizing their processing. This makes it possible for the projects to leverage Ethereum’s power economically, while maintaining EVM compatibility and inheriting security from the base layer.
Welcome To Polygon
Today, Polygon is the number one Ethereum scaling solution in terms of DApps present (giving it strong network effects) and the number of users. It currently helps scale 400+ DApps, which include the top DApps on the Ethereum blockchain — Aave, Curve Finance, Sushiswap — trying to expand their reach to the average users. Since we want to use Ethereum in an economical manner, we have decided to integrate with the Polygon ecosystem.
This means that anyone with an Ethereum wallet can connect to the Polygon commit-chain and start accessing our DeFi ecosystem. All they need is MetaMask and some PBR tokens on Polygon. We will discuss later how to do that and migrate tokens across blockchains. This will allow Ethereum users to enjoy PolkaBridge without breaking the bank and waiting for long processing times, simply by onboarding Polygon.
We hope that this will increase our coverage and help bring more users to PolkaBridge. It’s also a key factor in ensuring long-term stability and is likely to enhance PBR token value also. Polygon is the best in the industry by far and PolkaBridge aims to grow with it. After all, Ethereum users are going to be able to access the class-leading DeFi ecosystem PolkaBridge upon its launch and without having to worry about high fees / slow network speed.
Bridge PBR From Ethereum To Polygon
Stake $PBR on Polygon with Lower Fees and High APY
PolkaBridge integration with the Polygon will also introduce staking functionality, similar to the one present on the Ethereum blockchain. This will allow users to purchase PBR from Quickswap (Polygon’s Uniswap alternative) or bridge it directly from Ethereum to stake on the Polygon chain. We will publish detailed guides for that purpose, close to the launch.
Contract address https://polygonscan.com/token/0x0d6ae2a429df13e44a07cd2969e085e4833f64a0
Follow this guide to setup Matic Mainnet on Metamask https://docs.matic.network/docs/develop/metamask/config-polygon-on-metamask/
About PolkaBridge
PolkaBridge is a decentralized all-in-one financial applications platform. The PolkaBridge ecosystem is expected to include cross-chain AMM, Farming, Lending, Fundraising platform (Launchpad), Prediction, NFT, and more. All products will be developed with Polkadot in center.
Website: https://polkabridge.org
Farming https://farm.polkabridge.org
Staking https://stake.polkabridge.org
LaunchPad https://launchpad.polkabridge.org
Twitter: https://twitter.com/realpolkabridge
Medium: https://medium.com/@polkabridge
Github: https://github.com/cyclese96
Telegram Channel https://t.me/polkabridge
Telegram Group https://t.me/polkabridgegroup
Discord https://discord.gg/G3NDrcq6GW
Reddit https://www.reddit.com/r/polkabridge_official
CoinMarketcap https://coinmarketcap.com/currencies/polkabridge
Coingecko https://www.coingecko.com/en/coins/polkabridge
Polygon contract https://polygonscan.com/token/0x0d6ae2a429df13e44a07cd2969e085e4833f64a0
Ethereum contract https://etherscan.io/token/0x298d492e8c1d909d3f63bc4a36c66c64acb3d695
Asheesh Birla, the CEO of Evernorth Holdings Inc., revealed why the Nasdaq-listed digital asset treasury…
The RWA market is evolving rapidly, according to a new report shared today by institutional…
Ripple-linked XRP may be one of the biggest names in the cryptoverse today, but its…
The debate over whether Bitcoin’s hashing algorithm can be hacked continues to evolve. This time,…
The Cardano Foundation has urged the European Commission not to broaden the Markets in Crypto-Assets…
Matt Crosby, a research director at Look Into Bitcoin, said in a recent interview that…