IMPROVING USER EXPERIENCE IN THE MULTI-CHAIN world VIA HOP PROTOCOL WITH LIQUIDITY MINING REWARDS AT LAUNCH.
Polygon, the full-stack scaling solution for Ethereum, formerly known as Matic Network, has announced a 200,000$ Liquidity Program with Hop Protocol to connect Polygon to the Multi-Chain world.
Hop’s vision is to connect the fragmented Layer-2 landscape and enable seamless asset transfers and composability between DeFi applications on various networks. The Hop protocol provides a scalable token bridge for Ethereum’s Scaling ecosystem using a two-pronged approach:
Create a special intermediary asset called an hToken (e.g., hETH, hDAI, etc.) that can be quickly and economically moved from one network to the next. Use Automated Market Makers (AMMs) to swap between the hTokens and their corresponding assets on each network.
The end result allows users to seamlessly transfer tokens from one network to the next.
About Hop
Hop is a protocol for sending tokens across rollups and their shared layer-1 network in a quick and trustless manner. Rollups have the potential to scale the Ethereum network, but each rollup creates a siloed environment for its applications. Moving assets between rollups and the layer-1 network are slow and expensive, diminishing the savings users gain by using the rollup. The Hop protocol allows assets to be moved directly from rollup to rollup, providing cost savings and enabling cross-rollup composability of applications.
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 400+ Dapps, ~200M txns and ~1.3M+ unique users.
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