Decentraland, a nonfungible token, and gaming title have announced a token bridge that allows users to transfer their MANA tokens from Polygon. This is the first step towards a layer-two payments and transactions solution for Decentraland.
Decentraland announce Polygon integration
The announcement comes days after two decentralized finance firms launched layer-2 integrations through the Polygon sidechain. Decentraland’s token bridge will allow MANA transfer, which is currently ranked 80Th in terms of market capitalization and is up 3750% to $1.01 on the year. Most importantly, this is the preliminary step in the larger migration anticipated as the project plans to support all Decentraland dApps including, Marketplace contracts for transaction son Polygon.
Besides the fast settlement times, this integration will ensure all transactions are free for all users. Although Polygon usually charges a fee per transaction priced at some cents, Decentraland indicated that they will leverage Biconomy.io meta-transaction. As a result, this will enable users to buy, sell, claim and trade wearables for avatars in Polygon without any transaction fees. Lastly, the integration enables users to directly buy MANA tokens using debit and credit cards through a Polygon integration with cryptocurrency on/offramp Transak. When transacting in Polygon, a user will only provide a digital signature through their wallet, and Decentraland will take care of the rest.
Polygon offering scalability solution
Polygon is a blockchain created to handle several microtransactions generate by dApp use. It has built a scalability solution leveraging a second blockchain secured by a Proof-of-Stake validators network. Therefore the migration is a win for Polygon against Ethereum in the race to offer scalability solutions. Ethereum’s sidechain is currently strained, and Polygon seeks to take advantage of the situation such as when rolling up platform Optimism pushed back release by three months.
Zapper and Aaave have announced Polygon implementations offering the project two top-100 market cap wins within a week. It is interesting to see how the situation will appear in the coming months as scaling wars heat up. Last week Stakware raised around $75 million.