- Polygon and Cosmos blockchain ecosystems will be connected by a layer, Union Labs.
- Union Labs will connect Polygon’s AggLayer with Cosmos ecosystem’s Inter-Blockchain Communication Protocol.
- MATIC and COSMOS price added nearly 2% gains on Thursday.
Polygon blockchain’s aggregation layer (AggLayer) and Cosmos’s Inter Blockchain Communication (IBC) will be connected via Union Lab’s proposed solution. The modular interoperability layer is expected to ensure a smooth flow of liquidity between the two large blockchain ecosystems.
Union Layer could connect Polygon and Cosmos in this manner
DeFi users and traders using Layer 2 scaling solutions could benefit from a greater access to liquidity and movement between projects like Polygon and Cosmos.
Union Labs plans to power one such integration through a modular interoperability layer. The solution will ensure a smooth flow of liquidity between the two chains and maintain a unified architecture. It will offer a simple user experience (UX) for traders.
Polygon’s AggLayer is a bridge that unifies liquidity across projects and Cosmos’ IBC handles the authentication and movement of data between blockchains. Connecting the two chains is set to unlock a useful solution for web3 users and unlock greater freedom and flexibility in the ecosystem.
In a real-world use case, traders use AggLayer to buy NFTs or swap tokens in an easy manner, without additional steps of connecting to bridges and IBC allows traders to improve their trading strategies across various blockchains, ensuring smooth communication between different chains.
Marc Boiron, CEO of Polygon Labs, told FXStreet, “Union’s integration into the AggLayer is a significant milestone for both the Polygon and Cosmos ecosystems leveraging the AggLayer’s unique architecture to unlock modular and monolithic benefits for both ecosystems. It streamlines liquidity flow for current projects and users while catalyzing innovation.”
MATIC and COSMOS prices surged nearly 2% in the past day.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin Weekly Forecast: BTC nosedives below $95,000 as spot ETFs record highest daily outflow since launch
Bitcoin price continues to edge down, trading below $95,000 on Friday after declining more than 9% this week. Bitcoin US spot ETFs recorded the highest single-day outflow on Thursday since their launch in January.
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers
Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins.
Solana Price Forecast: SOL’s technical outlook and on-chain metrics hint at a double-digit correction
Solana (SOL) price trades in red below $194 on Friday after declining more than 13% this week. The recent downturn has led to $38 million in total liquidations, with over $33 million coming from long positions.
SEC approves Hashdex and Franklin Templeton's combined Bitcoin and Ethereum crypto index ETFs
The SEC approved Hashdex's proposal for a crypto index ETF. The ETF currently features Bitcoin and Ethereum, with possible additions in the future. The agency also approved Franklin Templeton's amendment to its Cboe BZX for a crypto index ETF.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin (BTC) price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot Exchange Traded Funds (ETFs) in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.