OKCOIN LAUNCHES POLYGON INTEGRATION.
OKCOIN now eliminates withdrawal transaction fees to Polygon, offering the quickest and most affordable way to get your currency into the DeFi ecosystem. They are the first regulated U.S. exchange to launch support for Polygon (formerly Matic), a full stack scaling solution giving access to Ethereum to allow faster and less costly access to decentralized finance protocols. Users Will now be able to withdraw from their Okcoin account directly to Polygon, saving some of the transaction fees you’d normally pay. Polygon is growing very quickly: The value locked on the protocol was $500 million in mid-April and has reached ~$7 billion today, a 1400% increase in one month. The first step of our partnership with Polygon is this integration to provide an easier way to withdraw ERC20 tokens and ETH from Okcoin into Polygon, eliminating the withdrawal transaction fee. That means fewer fees and more tokens for you. Faster and cheaper access to decentralized finance protocols
With skyrocketing adoption, transactions on Ethereum’s first layer have become slow and expensive. This is why development on layer 2 solutions is considered a priority in the ecosystem while Ethereum continues on its transition to Eth 2.0. However, there are still hurdles to access them: Currently, you have to go through layer 1 first, and then access layer 2 from there, which takes time and incurs extra fees from the network.
About Polygon
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. 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 Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 350+ Dapps, ~121M txns and ~1M+ unique users.
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