Poly Network is live on Arbitrum
13 October 2021 — heterogeneous interoperability protocol Poly Network is pleased to announce that Poly Network is live on Arbitrum.The integration with Arbitrum marks a milestone for Poly Network, which means Poly Network has enabled assets to move freely across blockchains ranging between Layer1 and Layer2 solutions.
Arbitrum is a Layer2 protocol that seeks to scale and lower the gas fees on Ethereum by carrying transactions off-chain. In order to foster the Ethereum Layer 2 ecosystem, Poly Network charges zero fees to use it— only gas costs apply. In addition, Poly Network provides three modes of service, including cross-chain asset transfer, cross-chain swap and NFT cross-chain service.
Under the support of Poly Network, users can easily achieve interoperability among Arbitrum and other heterogeneous blockchains supported by Poly Network, including Bitcoin, Ethereum, Neo, Ontology, HECO, BSC, OEC, Polygon, etc.
Developers and users will now be able to experience various ecosystems on Arbitrum and other Layer1 protocols to trade, lend, provide liquidity, and yield farm with negligent fees, nearly instantaneous transaction speeds and high security of asset management.
Arbitrum is one of the more anticipated Layer2 solutions in 2021 and brings a unique set of features to the blockchain ecosystem. Integrating with Poly Network will help both sides to vastly improve interoperability for exchanging arbitrary messages with Ethereum and other blockchain networks, fundamentally benefit the Arbitrum ecosystem, and expand its application scenarios and user number.
Moving forward, Poly Network welcomes all interested parties to join in providing interoperability for ledgers in Web 3.0. Let’s work together to connect more blockchains and ultimately realize the fluid movement of liquidity throughout the blockchain ecosystem.
Arbitrum is a Layer 2 solution designed to improve the capabilities of Ethereum smart contracts. It uses so-called Optimistic Rollups to scale dApps, reduce costs and increase capacity while continuing to leverage Ethereum’s security. Arbitrum aims to help offload most of the computational and storage burden Ethereum currently suffers from, while enabling new classes of L2 DApps.
About Poly Network
Poly Network is an interoperability protocol for heterogeneous blockchains. Poly Network has implemented interoperability with heterogeneous chains including Bitcoin, Ethereum, Neo, Ontology, BSC, HECO, OKExChain, Polygon, Elrond, Zilliqa and Cosmos-SDK. Since the launch, the protocol has enabled cross-chain asset transfer of more than $13 billion USD involving more than 260K addresses on different blockchains, and its TVL surpasses $1 billion USD.