THELOGICALINDIAN - An EVMcompatible representation of BTC will now be accessible on Polygon through RenBridge
Ren has chip Polygon.
Ren Unveils Polygon Bridge
Ren has launched a arch to Polygon.
The activity announced the amplification Thursday, acquainted that Polygon is home to “a beginning DeFi ecosystem with accessible allowances for users.” Polygon, which acts as an Ethereum commit-chain, offers a agnate acquaintance to DeFi on Ethereum at a atom of the cost. It’s chip several Ethereum staples including Aave, Curve, and SushiSwap, and in contempo weeks has become a hit with yield farmers attractive to arrange their capital.
Ren, additionally accepted as RenVM, is a arrangement that allows for cross-chain interoperability. So far it’s been accepted for bringing Bitcoin assimilate DeFi on Ethereum, but it offers affinity with abounding added chains.
The Polygon x RenVM Bridge will initially acquiesce DeFi users to move four assets anon assimilate Polygon after interacting with Ethereum. Those assets are Ren-based versions of Bitcoin, Bitcoin Cash, Dogecoin, and Zcash. After they’ve been added, DigitByte, Filecoin, and Terra will follow.
Once added to Polygon via the bridge, the assets will be accessible through apps like QuickSwap, Curve, and BadgerDAO. That agency DeFi users will be able to acquire crop with their assets on the Proof-of-Stake network.
In the blog column announcement the update, Ren COO Michael Burgess said:
“The accession of Polygon abutment to RenVM will abundantly account all stakeholders, accouterment added account to Polygon and alike added acceleration through RenVM.”
Polygon has been a active few months, best afresh announcement its long-awaited SDK update. The arrangement will now acquiesce developers to barrage their own EMV-compatible chains. Polygon’s co-founder Sandeep Nailwal said that the advancement apparent a footfall appear a “multi-chain future.”
Disclosure: At the time of writing, the columnist of this affection endemic ETH, ETH2X-FLI, AAVE, CRV, and several added cryptocurrencies. They additionally had acknowledgment to REN and SUSHI in a cryptocurrency index.
