Gravity protocol integrates Matic to boost DeFi adoption
Matic, a solution for scaling Ethereum apps, joins the Gravity protocol as a target chain.
The integration of Matic into Gravity, an inter-chain protocol that connects different blockchains and external centralized data sources without creating a native token, is set to open up opportunities for building new-generation cross-chain solutions.
A range of DeFi solutions have been built on Matic, including the QuickSwap exchange, the Easyfi lending protocol and Marble Cards, a solution for non-fungible tokens (NFTs). The Matic network is one of the leaders in DeFi adoption, and the integration of Gravity is likely to further boost the adoption process.
The integration of the Matic network into the Gravity protocol as a target chain will enable:
- cross-chain swaps and trading opportunities for the MATIC token. MATIC tokens will be wrapped and accessible on Gravity’s current target chains, including Waves and Tron, as well as on any new chain added in the future. MATIC will be listed on Waves.Exchange.
- cross-chain dApp calls and oracles. The Matic network will get access to oracles that retrieve data from other blockchains and APIs. Oracle data can be used on-chain for creating unique functionality, facilitating interaction between Matic and other ecosystems.
- use of MATIC as a means of payment on Gravity. MATIC tokens will be held and locked by Gravity nodes. Data consumers will be able to use the token to pay fees, boosting demand for Matic’s token. MATIC will join the likes of ETH, WAVES, TRX as tokens that can be locked as collateral for a Gravity node.
- USDN, WAVES and other Waves-based tokens will be accessible on Matic sidechains. Neutrino USD (USDN) is a rapidly growing stablecoin with a unique staking mechanism. More than 30 million USDN has been locked on a smart contract. Scaling the stablecoin to the Matic network will create new opportunities for the ecosystem’s users and empower Matic’s position in the blockchain space.
We see this integration as a major step towards cross-chain interoperability that will benefit both ecosystems and pave the way for creating next-generation applications.
Matic is a developer-first hybrid POS+Plasma sidechain on top of Ethereum, enabling Ethereum developers to scale their dApps for large-scale usage. Matic is rapidly becoming the go-to Layer 2 solution for developers, thanks to secure, scalable and instant transactions, secured by Ethereum. More than 70 dApps have been built on Matic, ranging from DeFi protocols to games and prediction markets.
Gravity is a decentralized cross-chain and oracle network based on a truly blockchain-agnostic protocol for communication between blockchains and with the outside world, working with native token economies.