The Ethereum protocol has gained massive notoriety during the past couple of years, as a platform for executing smart contracts. The fact that it’s open source and developed by a community of developers is a major factor that has allowed for such a rapidly growing ecosystem. However, it’s important to remember that the Ethereum protocol itself isn’t anything special, and what’s great about it is that it can be combined with other protocols to form hybrids.
In the world of blockchain, there is no shortage of crypto-assets. With an ever-increasing number of tokens, each with their own unique features, it can be hard to tell which ones are actually worth holding. Which tokens embody a sense of stability? Which ones are currently underperforming? Which ones will eventually disrupt the currently established industry? And which will rise to the top?
Singapore, Singapore, 8. June 2021, Warp Polygon, a comprehensive Ethereum scaling solution formerly known as Matic Network, has announced a $200,000 liquidity program with Hop Protocol to connect Polygon to the multichain world. Hop’s vision is to connect the fragmented Layer 2 landscape and enable seamless asset transfer and interoperability between DeFi applications across networks. The Hop protocol provides a scalable gateway for tokens in the Ethereum scaling ecosystem with a two-way approach:
- Create a special intermediary asset called an hToken (e.g. hETH, hDAI, etc.) that can be moved quickly and cheaply from one network to another.
- Use automated market makers (AMMs) to trade between hTokens and their respective assets on each network.
This allows users to transfer tokens seamlessly from one network to another. Demo: https://twitter.com/HopProtocol/status/1397983455821041664?s=20 Liquidity in the Hop MSA is critical to ensure high transfer volumes to and from Polygon through the Hop Bridge, and we are pleased to support the increase in liquidity by awarding a $200,000 LP fee. In the first phase of cash extraction at the time of Hop’s launch, a $200,000 reward will be awarded to cash providers hUSDC – USDC on Polygon. In the future, Polygon will also support LP rewards that allow for seamless transfer of $MATIC tokens between decks. This is a big step towards a seamless experience for Polygon users and a bridge between the Polygon ecosystem and other networks in the Ethereum space. As part of this initiative : – Hop will integrate Polygon (PoS) as one of the supported networks – Hop will prioritize $MATIC support on the Plasma Bridge – LPs on Hop’s AMMs on Polygon will be supported via rewards and – Hop will support future Polygon SDK channels Restricted access to the FiFi With the upcoming launch of multiple Ethereum-related networks, will support Hop integration and provide a seamless experience between these networks via the Polygon SDK. Hop will eventually become an important part of Polygon’s Lego ecosystem, helping it realize its grand vision of the blockchain internet. O Hop Hop is a protocol for quickly and reliably transmitting markers between coils and their shared Layer 1 network. Rollups have the potential to scale the Ethereum network, but each rollup creates an isolated environment for its applications. Moving assets between Rolls and the Tier 1 network is slow and costly, reducing the savings users realize from using Rolls. The Hop protocol allows assets to be transferred directly from role to role, enabling cost savings and applications between roles. Discord | Demo | Twitter On theseries Polygon is the first well-structured and easy-to-use platform for Ethereum scaling andinfrastructure development. The core component is the Polygon SDK, a modular and flexible framework that enables the creation and connection of secure chains such as Plasma, Optimistic Rollups, zkRollups, Validium, etc. and standalone chains such as Polygon POS, designed for flexibility and independence. Polygon’s scale solutions have been widely adopted with 400+ dapps, ~200M txns and ~1.3M+ unique users. If you are an Ethereum developer, you are already a Polygon developer! Quickly and safely use txns polygon for your dapp, start here. Website | Twitter | Reddit | Discord | Telegram
Contacts
Marketing and developer relations
- Arun Phillips
- Polygoon
- arun.philips@matic.network
