deBridge receives grant from Polygon
We’re happy to reveal that deBridge has received a grant from Polygon to facilitate the integration of Polygon and to bring cross-chain…
We’re happy to reveal that deBridge has received a grant from Polygon to facilitate the integration of Polygon and to bring cross-chain interoperability and liquidity transfer features to its ecosystem. These cross-chain features are crucial in today’s ecosystem as we have seen the overall demand among projects and developers grow significantly. Projects want to have the opportunities to tap into different blockchain networks for specific applications or functionalities that aren’t offered elsewhere. This is where deBridge comes in to provide the infrastructure needed.
Polygon has experienced immense growth this year and truly established itself as one of the prominent and go-to blockchain networks in the ecosystem. Over 500 protocols and applications have integrated with or deployed on Polygon, and the activity continues to grow at a rapid pace for DeFi, NFTs, and other areas. Polygon supports all the necessary infrastructure for projects to build – and will continue to do so through for instance zk-technology with Hermez – and now the next major step is to bring cross-chain interoperability to the ecosystem.
Cross-chain interoperability and liquidity transfers will open up endless possibilities and we have only entered the very beginning of a very exciting stage within the blockchain ecosystem. This is something we aim to bring to Polygon and some examples include (i) Cross-chain composability of smart contracts (ii) Cross-chain swaps to/from any asset on Polygon (iii) Bridging of NFTs (iv) Bridging of any arbitrary asset.
Just imagine the following use case: You deposit your assets to Aave on one chain (Ethereum), draw credit on a second chain (Polygon), and repay your loan on a third chain (Arbitrum). This is just one of many examples that will be possible with deBridge, and just imagine when projects start building on top of this cross-chain composability.
Another example would be to bridge your NFTs from one chain (Flow) to a second chain (Polygon) to tap into yield opportunities or take a loan with the NFT as collateral. This is something we have talked extensively about with our partners, and it will certainly be an important factor in the next phase of NFTs. Ultimately, deBridge wants to provide the tooling and overall infrastructure for all projects in the ecosystem to be creative, build great applications, and expand to other chains in a secure and efficient manner.
deBridge is an interesting project looking to increase cross-chain composability in the DeFi and NFT space. We are glad deBridge is bringing their services to Polygon as we scale together.
–Hamzah Khan, Polygon
About Polygon
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium, etc, and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 500+ Dapps, ~567M+ txns, and ~6M+ daily txns.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.
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About deBridge
deBridge is a cross-chain interoperability and liquidity transfer protocol that allows truly decentralized transfer of assets between various blockchains. The cross-chain intercommunication of deBridge smart contracts is powered by a network of independent oracles/validators elected by deBridge governance. deBridge protocol is an infrastructure platform and hooking service which aims to become a standard for:
- Cross-chain composability of smart contracts
- Cross-chain swaps
- Bridging of any arbitrary asset and data
- Bridging of NFTs