Polygon Shakes Hand With RenVM Bridge for High-Speed and Low-Cost Transactions

Sahaj  |  May 27, 2021

The first direct bridge patterns of RenVM partners with Polygon providing the users with the benefits of high-speed and low-cost transactions. Also, the recent collaboration will allow the RenVM Bridge to add support for Polygon allowing the users to take assets directly to Polygon (Matic).

RenVM Bridge Partners with Polygon

Talking about RenVM, it is an open protocol that provides inter-blockchain lucidity access and permissions transfer of value between any blockchain.

In addition to this, it should also be known that the RenVM Bridge allows the users to make deposits and withdrawals of native Ren-assets directly to Polygon without even going through Ethereum.

Discussing further about the native assets that are going to be made available on the platform are, $renBTC/BTC, $renBCH/BCH, $renDGB/DGB, $renDOGE/DOGE, $renFIL/FIL, $renLUNA/LUNA, and $renZEC/ZEC.

Along with this, it should be noted that the recent amalgamation will be allowing the Ren-related assets to work on Polygon, ultimately enabling the addition of assets based on Ren on all the decentralized applications DApps present within the ecosystem.

Michael Burgess, the COO of Ren Protocol said:

“The addition of Polygon support to RenVM will greatly benefit all stakeholders, providing more utility to Polygon and even more velocity through RenVM. We could not be more thrilled for this to go live as it will benefit all of Defi.”

Polygon-Based DFYN Reports 128% Surge in Number of Users

On one side where the cryptocurrency industry has suffered a lot and almost all the currencies are being traded for less, DFYN, which operates on the Polygon Network has seen a huge influx of users in a short period of time.

The total number of active wallets that interact with the DApps smart contracts has surged 128% to 1,490, in just the last 24 hours. 

Talking about the volume for DFYN, the growth has generated a reported $8.1 billion.

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