Polygon integrated by Injective to Accelerate Cross-Chain Composability

Published on: 03.06.2023

Injective launched a groundbreaking integration with Polygon, enabling true DeFi composability.

This enables native assets from Polygon and Injective to be utilized for a diverse array of cross-chain use cases within the two ecosystems.

Utilizing a new connection from Wormhole, assets such as MATIC and INJ can now be transferred. In turn, this integration paves the way for increased collaboration, liquidity and accessibility, benefiting both chains and their respective communities.

Accelerating the growth of true composability has long been a significant goal for both Injective and the broader Web3 industry. The integration with the Polygon protocol, takes Injective one step closer to realizing the grand vision of seamless interoperability.

With the integration, users across the two communities can gain access to new assets, DeFi protocols, liquidity pools and tightly coupled infrastructure. For instance, Injective users can begin to utilize assets such as MATIC within dApps built on Injective. Similarly, Polygon community members can use INJ alongside other assets in the IBC

The integration with Polygon brings together two vibrant communities, fostering a cross-pollination of ideas, assets and primitives. Rising interoperability and composability further helps to extend capital efficiency and overall user experience across sovereign blockchain networks such as Polygon and Injective.

With the integration, both networks provide an intuitive access point for transferring cross-chain assets while simultaneously introducing new opportunities for builders. DeFi protocols focused on functionalities such as lending, trading or derivatives can all leverage new assets powered by this collaboration.

About Injective

Injective is a lightning fast interoperable layer one blockchain optimized for building the premier Web3 finance applications. Injective provides developers with powerful plug-and-play modules for creating unmatched dApps. INJ is the native asset that powers Injective and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by prominent investors such as Jump Crypto, Pantera and Mark Cuban.

About Polygon

The Polygon protocol is a scaling infrastructure network focused on Ethereum. One of its core components is Polygon Supernets, a modular, flexible framework that supports building multiple types of applications. The PoS Polygon network addresses the network’s challenges by handling transactions on a separate Ethereum Virtual Machine (EVM) compatible blockchain. Polygon zkEVM Mainnet Beta is the leading ZK scaling solution that is EVM equivalent: The vast majority of existing smart contracts, developer tools and wallets work seamlessly. Giants such as Reddit and Robinhood have also chosen the Polygon network

SOURCE:

https://blog.injective.com/injective-integrates-polygon-to-accelerate-cross-chain-composability/

Market Stats:
BTC Dominance: 54.12%(-0.14%/24h)
ETH Dominance: 18.26%(+0.02%/24h)
Defi Market Cap: $91.16B(-23.89%/24h)
Total Market Cap: $2409.6B(+1.93%/24h)
Total Trading Volume 24h: $59.9B(-31.01%/24h)
ETH Market Cap: $439.96B
Defi to ETH Ratio: 20.72%
Defi Dominance: 3.59%
Altcoin Market Cap: $1105.51B
Altcoin Volume 24h: $40.07B
Total Cryptocurrencies: 30333
Active Cryptocurrencies: 10135
Active Market Pairs: 82744
Active Exchanges: 783
Total Exchanges: 8727
BTC: 66153.2$(0.5%/1H)
ETH: 3598.58$(0.41%/1H)
AVAX: 28.46$(0.61%/1H)
BNB: 604.6$(0.13%/1H)
MATIC: 0.59$(0.16%/1H)
FTM: 0.57$(0.21%/1H)
ADA: 0.39$(0.43%/1H)
DOT: 5.91$(0.64%/1H)
UNI: 10.17$(0.93%/1H)
CAKE: 2.35$(0.47%/1H)
SUSHI: 0.86$(0.51%/1H)
ONE: 0.02$(0.7%/1H)