LandOrc launches staking on real world assets using Polygon
LandOrc is connecting USD 245 billion DeFi world to USD 300 trillion world of Real Estate using Polygon’s solution to ease and scale transactions.
Polygon is powering staking on LandOrc to scale up transactions by reducing the cost and speed of transaction.
LandOrc is an operating business with lending operations in the Indian market. It is in the process of widening its reach across multiple markets across the United Arab Emirates, Australia and United States. Polygon’s solution is aiding the process of scaling LandOrc solution to a wider user base by making the cost of transaction cheaper and the process faster.
LandOrc token has been developed in the Ethereum blockchain and now with the help of decentralized Polygon interoperability protocol and Proof of Stake (PoS) consensus algorithm, LandOrc is able to bridge native ERC20 token from Ethereum to Polygon network.
The LandOrc Platform staking, where the staking is based on LORC (ERC20) token, is now available on the Polygon network. So users can enjoy the same staking benefit on Polygon network with lower gas fee.
LandOrc integration to Polygon has scaled the solution allowing for a larger number of users to use the solution simultaneously, at faster pace and lower cost.
The entire integration was done within three weeks. The Polygon API structure eases the process of deployment. The integration process was easily executed and categorized into 3 core steps
- Deploying Smart Contracts to Polygon Network
- Mapping ERC-20 token from Ethereum to Polygon
- Integration with Dapps
Within just one week LandOrc tech team was able to deploy the existing Smart Contract on the Polygon network. Primarily using the existing Ethereum Smart Contract with some minor upgrades to Polygon’s requirements.
The token mapping process was managed by the tech team from Polygon using the online Token Mapper request. Once the token was successfully mapped, the POS bridge with Ethereum and Polygon network was made possible using the Matic.js library.
LandOrc’s Dapps were already running on the Ethereum network. So they were upgraded to support network switching with Polygon in a single click.
LandOrc’s integration on Polygon is a phased roll-out. As part of the first phase the staking smart contract for platform staking has been rolled out. With subsequent phases planned out in the coming months for the other set of the 30 smart contracts that power the LandOrc platform
About LandOrc
LandOrc (www.landorc.io) is United Arab Emirates (UAE) headquartered company that is one of the very few companies in the world focussed on bringing real world assets to DeFi (Decentralised Finance). LandOrc is helmed by a team that has a few hundred years of corporate experiences across real estate, blockchain technology, business strategy and finance. The team is spread across locations and is constantly innovating on the real estate industry use cases and technology.
About Polygon
Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon’s scaling solutions have seen widespread adoption with 7000+ applications hosted, 1B+ total transactions processed, ~100M+ unique user addresses, and $5B+ in assets secured.
SOURCE: https://landorc.medium.com/landorc-launches-staking-on-real-world-assets-using-polygon-c1fc48054eb4
