Today, we are plugging another fantastic partner to the Polkadot network; Introducing PL^Gnet, a Multi-Chain Synthetic Assets Protocol.
Pinknode has been on a noticeable roll in forging new partnerships, with no intentions to stop anytime soon.
How PL^Gnet is Propelling Asset DeFi
Pinknode has cemented its most recent partnership with PL^Gnet DeFi, a Multi-Chain Synthetic Assets Protocol that allows asset holders to mint any asset from any blockchain network as collateral in its synthetic form on their platform, and the pooling of liquidity for Custodians. In essence, this means that PL^Gnet’s users and developers will be able to use, trade, build with the tokenized versions of any blockchain or traditional financial instruments.
Their customers may trade synthetic assets on any network from the PL^Gnet decentralised exchange (DEX) while developers of DeFi products can utilise the quality identity-based information from the KYC/AML processes of PL^Gnet’s DEXes.
How Pinknode and PL^Gnet Can Mutually Benefit
Pinknode is glad to be teaming up with PL^Gnet as a primary node provider. Pinknode will be tasked with providing onboarding infrastructure for PL^Gnet’s partners, who are mainly DeFi projects, cryptocurrency exchanges wallets. We will be focused on supporting PL^Gnet and their users in interfacing with the relay chain and various parachain networks on Polkadot. As more DeFi developers shift to Polkadot to enjoy its interoperability and security, PL^Gnet’s growth can be expected to rise in tandem.
As such, Pinknode will be participating as a PL^Gnet’s Partner Alliance Member, a council of organisations who have signed on to help promote, integrate, list, trade, support and govern PL^Gnet. Currently, there are already more than 10 partners, many of them are exchanges with a combined daily trading volume of over USD$10B.
By harnessing Pinknode’s economies of scale, PL^Gnet will be able to smoothly onboard its users onto the Polkadot ecosystem.
Pinknode is keenly aware of how significantly Polkadot’s multichain interoperability has contributed to its popularity and evolution. In this spirit, Pinknode is glad to support PL^Gnet in its aim to utilise and showcase multichain interoperability’s untapped potential in facilitating the budding decentralised economy on the journey towards Web 3.0.
About PL^Gnet
PL^Gnet enables semi-permissionless creation of synthetic assets, from multiple chains to operate and leverage DeFi in one network. It does this with a simple UX from your existing trusted provider, connecting synthetics securely with a verified customer.
About Pinknode
Pinknode is a Polkadot-only Infrastructure-as-a-Service project with the goal of accelerating adoption and empowering innovators to create on the most promising Web 3.0 meta protocol. By providing API endpoints through a streamlined onboarding process and maintaining secure, reliable and scalable node infrastructure, Pinknode helps innovators jumpstart development quickly and accelerates product life cycles.
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