Mar 26, 2021
Genesis Shards partners with Polygon for scaling solutions
Genesis Shards has partnered with Polygon (formerly Matic) to increase the scalability of Gen Tickets (NFTs) on the Genesis platform through Polygon’s L2 solution!
With a surge of DeFi protocols being built on Ethereum, transaction times and fees have been skyrocketing. Polygon is widely being recognized as one of the leading players in the ongoing fight for Ethereum scalability — with its plasma-based approach to scaling, Polygon aims at relieving the pressure on the Ethereum blockchain in this rapidly evolving DeFi tech landscape.
Polygon provides solutions for DeFi as well as Web2/Web3 apps to enable the speed and cost-effectiveness needed to create high-quality, accessible user experiences.
Genesis Shards is bringing about the inception of a whole new pre-IDO marketplace by utilizing its NFT swap architecture to introduce liquidity to pre-IDO tokens via ‘Gen Ticket’ NFTs. We would explore Polygon’s L2 solution to increase the scalability of Gen Tickets on our platform. The strategic and long-term partnership would usher in a new era of a scalability-first approach to NFT Defi options.
Through this partnership, the Genesis Shards architecture would consider scaling via the Polygon bridge as it connects to Ethereum. This will consequently result in a low fee environment and reduce block time confirmation.
We are committed to offering the very best in DeFi to our community, and this includes the lowest possible transaction fees possible. Through faster transactions and lower fees — the user experience will improve considerably, enabling smoother, low-friction trades for Gen Tickets.
For Polygon, projects within their ecosystem will be able to establish partnerships with synergistic projects in the Genesis ecosystem. Apart from this, projects will also be able to access the Genesis Partner network consisting of access, ecosystem, and mentor partners.
Additionally, projects building on Polygon will get access to pre-IDO liquidity powered by Genesis Shards.
“The team at Polygon are central to the Ethereum scaling movement and are experts in the field. We are pleased to enter into a strategic long-term partnership with them to explore the scalable and cost-effective solutions that they offer.” — Nilotpal Mukherjee, Genesis Shards Co-founder
“We’re pleased to partner with Genesis Shards, enabling projects in the Polygon system access to the top-tier Genesis Partner network. This would unlock immense value for our projects in the early stages.” — Sandeep Nailwal, Co-Founder and COO at Polygon
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About Polygon
Polygon is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks. It combines the best of Ethereum and sovereign blockchains into an attractive feature set; built ‘by developers, for developers.
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 Matic POS, designed for flexibility and independence. Polygon’s Layer 2 chains have seen widespread adoption with 90+ Dapps, ~7M txns, and ~200K unique users.
About Genesis Shards
Genesis Shards is a decentralized ecosystem powered by Polkadot redefining NFTs as DeFi options, creating a permissionless environment of interchain liquidity for pre-IDO tokens. By wrapping time-locked fungible tokens into NFTs, Genesis Shards is creating a new marketplace for previously illiquid tokens.
The next major steps in Genesis’s journey will be announced soon! Keep an eye on this space for updates.
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