Polygon, formerly known as the Matic Network, is a Layer-2 scaling solution that runs alongside the Ethereum blockchain. It is designed to allow higher-speed and lower-fee transactions for tokens such as Pluton (PLU) built on the Ethereum Blockchain.

Therefore, Plutus will be working alongside Polygon’s development team to deploy PLU onto its sidechain. Upon completion, customers will be able to seamlessly send, withdraw, and swap PLU without experiencing Ethereum’s high gas fees.

As opposed to this quarter’s planned self-deployment, they have taken a lengthier but more strategic approach to collaborate and refine the agreement over many weeks. As such, the launch of PLU on the Polygon sidechain is now expected for Q3 2022.

They will be reflecting these changes on an improved roadmap which they will publish on 29th June 2022. With new partner opportunities yet to be disclosed, they are taking an improved product direction with more bank-like features tailored to the mass market’s needs.

About Plutus 

Plutus provides an alternative to modern banking and combines it with the ease of access to cryptocurrencies. And Founded in 2015 by serial entrepreneur, Danial Daychopan. Lastly, Plutus is now used by thousands across Europe.

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ABOUT POLYGON STUDIOS

Polygon Studios aims to be the home of the most popular blockchain projects in the world. Also Polygon Studios team is focused on supporting developers building decentralized apps on Polygon by providing Web2 and Web3 teams with a suite of services such as developer support, partnership, strategy, go-to-market, and technical integrations.

SOURCE:
https://medium.com/plutus/announcement-plutus-signs-agreement-with-polygon-9ded49b0d4f5

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