Polygon Introduces Bridge for Web3 Users to Transfer Assets to Ethereum

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Tomi­wabold Olajide

Poly­gon team chose to devel­op unique solu­tion that aims to be cost effective

The Poly­gon Net­work has announced the launch of the Gno­sis Bridge, a Poly­gon PoS Bridge for Gno­sis Safe users.

Accord­ing to a blog post, the Poly­gon team chose to devel­op a unique solu­tion that aims to be cost effec­tive, which result­ed in the build­ing of the bridge. It claims that while main­tain­ing a Gno­sis wal­let on Ethereum is secure, it is cost­ly because gas is required for each transaction.

Accord­ing to it, the Gno­sis Bridge rep­re­sents the eas­i­est way for Web3 teams to trans­fer their Safe assets between Poly­gon and Ethereum. Users may now make use of Safe’s mul­ti-sig tech­nol­o­gy with­out los­ing con­ve­nience, cost or secu­ri­ty thanks to the integration.

As a result, Web3 teams, includ­ing DeFi pro­to­cols and DAOs, can use the Poly­gon Bridge to trans­fer Gno­sis Safe funds with­out incur­ring exor­bi­tant gas costs.

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Poly­gon has announced unique inno­va­tions in recent months. Avail, a scal­able data avail­abil­i­ty lay­er that oth­er chains can plug into, recent­ly launched in test­net with updat­ed ver­sions on the way. Poly­gon recent­ly unveiled its “most impor­tant reveal,” the Poly­gon zkEVM, a zk-Rollup pro­vid­ing EVM equiv­a­lence for the Ethereum user experience.

In oth­er pos­i­tive news, Coca-Cola just launched its unique col­lectibles on Poly­gon in hon­or of Inter­na­tion­al Friend­ship Day. The col­lectibles, which were just air­dropped to cur­rent own­ers of pri­or Coca-Cola col­lec­tions, have a unique share-to-reveal capa­bil­i­ty where­by each piece of art­work will dis­close after being shared with a friend.

It might be just the beginning

After cel­e­brat­ing sig­nif­i­cant mile­stones and inno­va­tions in the first half of 2022, Lay­er 2 scal­ing plat­form Poly­gon says it undoubt­ed­ly has mas­sive plans for the rest of 2022, which will focus on three key areas: prod­ucts, events and accelerators.

Over­all, this has a mis­sion to onboard a mil­lion devel­op­ers to Poly­gon’s ecosys­tem. In the first half of 2022, Poly­gon gave the num­ber of apps run­ning on Poly­gon as more than 19,000 as of its April analy­sis (up from about 7,000 in Jan­u­ary). It also gave the aver­age num­ber of month­ly trans­ac­tions and cumu­la­tive con­tract cre­ators as over 90 mil­lion and 153,000, respectively.



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