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Poly Network AMA Recap with CLV

A one-stop infrastructure platform for cross-chain and decentralized applications, CLV (@clv_org), was invited to Poly Network (@PolyNetwork2) AMA, taken place on July 22 in the Poly Network Telegram Community. From the Live AMA with Sam Wong, Marketing Manager at CLV, this recap fully grasps the information discussed during the AMA.

INTRODUCTION

Poly Network is a global cross-chain protocol for implementing blockchain interoperability and building Web3.0 infrastructure. Poly Network has integrated almost 30 blockchains, including Ethereum, Polygon, Avalanche, Fantom, BNB Chain, Arbitrum, Optimism, HECO, OKC, Neo, Ontology, Zilliqa, Harmony, Metis, etc. Since its launch, the protocol has enabled cross-chain asset transfers of more than USD 16 billion.

CLV is a one-stop infrastructure platform for cross-chain and decentralized applications. The CLV chain is a Substrate-based specialized Layer-1 chain that is EVM compatible, cross-chain interoperable, and also functions as a Parachain in the Polkadot ecosystem. Infrastructure made ready for scaling dApp in the multi-chain universe. CLV wallet is a cross-chain all-in-one wallet, for Day-to-Day, DeFi, Metaverse and Gaming purposes. With multi-dimensional products lineup, including CLV Multi-Chain Wallets, CLV dApp Interaction Protocol, CLV Chain EVM and Universal Cross-Chain Support, CLV uniquely positioned itself as “Passport to the Omniverse.”

QUESTIONS AND ANSWERS IN LIVE AMA

Q1 How do cross-chain bridges power the DeFi movement in your opinion?

A: One of the most significant problems that blockchain technology faces is the inability of multiple chains to communicate and transmit data, and with the introduction of Defi, that need grew even more. Today, interoperability across various blockchains is critical, and this is where cross-chain bridges come in.

I think that cross-chain bridges/exchanges are absolute juggernauts as we progress through the adoption of crypto via different layers and chains. With this growth will come incredible investment opportunities, a better user experience for people hopping across chains and layers, but it does introduce a whole lot of extra risk for users in current settings.

Polkadot’s newly launched cross-chain messaging system (XCM) is intended to promote its multichain ecosystem, which is being built on the premise of full interoperability. XCM channels are secured at the same level as Polkadot’s central hub, dubbed Relay Chain, and are also available for use by parachains like CLV Parachain, further enabling CLV chains to be more multi-chain native.

We at CLV are also actively promoting and supporting cross-chain developments. We expect to see more developers to build with multi-chain in mind and present composability and interoperable DeFi applications to our users.

Q2 What is Multi-chain anyways?

A: After years of research & development, we are finally in a multi-chain market structure. There are over 100 active public blockchains, many of which have their own unique applications, users, geographies, security models, and design trade-offs.

Despite what individual communities believe, the reality is that the universe tends towards entropy, and the number of these networks will likely continue to increase into the future.

This type of market structure necessitates the need for interoperability between these distinct networks. On users’ end, it’s multi-chain wallet that connects to different chains; on infrastructure level, it’s cross-chain bridges that attempt to unify an increasingly fragmented landscape.

Q3 What, if anything, would a deployment on CLV that other infrastructure platforms wouldn’t already bring?

A: To have the ability to choose between multiple options is one of the best things about Web3.0 — we are no longer bound to a single “big tech” cooperation to do anything. Now we can freely choose what to use, and what not to. CLV is certainly offering a more open option for cross-chain interoperability, multi-chain connectivity, and communications. It doesn’t mean one or the other. We have plans to support and connect more chains in an open way, that’s CLV’s vision.

For added value, CLV is positioned uniquely in the Polkadot ecosystem. We already have an existing user base with CLV Wallet apps across all user platforms. We believe CLV Chain’s adoption and expansion will be more efficient. Integration of Poly Network will be a great thing to achieve for CLV.

Q4 Why did CLV choose Poly Network among others for partnership?

A: In line with bootstrapping the CLV ecosystem with the finest of partnerships and collaborations, we consider Poly Network as one of such significant collaborations suited for CLV and what we are aiming to do in the space. We share the same vision of decentralization and interoperability across various blockchains, and integration with Poly Network would allow a wider spectrum of assets to migrate to the CLV network. We are particularly impressed with the multi-chain connectivity that Poly Network has to offer, and are excited to be a part of it as we look forward to more collaboration with Poly Network in the near future.

Q5 Any exciting plan for future developments?What shall users expect?

A: The most exciting thing that we are all anticipating is bootstrapping of the CLV on-chain ecosystem. We have done so much work in the past and built up close relationships with top projects and developers. We look forward to the expansion and blooming of the CLV ecosystem.

As for CLV wallet, we have many new functions such as integrated Fiat-on ramp and compatibility upgrade to support more chains. We are also actively collecting feedback from our users and constantly improving the usability of the product, a complete redesign of the wallet apps is expected to be available soon. We aim to provide the best multi-chain wallet as always.

A side-note to the above, we are heavy on Metaverse as well. You shall hear more news on that from us in a later time.

The AMA with CLV was successfully concluded. We will have more AMAs coming in the following weeks. Please stay tuned!

For more info about Poly Network

Website | Telegram | Medium | Twitter | Discord | Github

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Poly Network

Poly Network

Enhancing connections between ledgers by providing interoperability in Web 3.0.