- The partnership is said to serve as an interoperable internet of dedicated Ethereum Virtual Machine (EVM) blockchains backed by the Polygon Edge.
- Axelar and Polygon Supernets are enabling developers to “build on chains that make it easy to accomplish their goals, with zero barriers to liquidity or user onboarding.”
Polygon has announced a groundbreaking partnership with cross-chain platform Axelar which is expected to have a considerable effect on its native token MATIC. This collaboration is meant to offer “secure cross-chain communications to Polygon Supernets”. Speaking on the importance of the partnership, Sergey Gorbunov, CEO, and co-founder of Axelar mentioned that the Web3 industry needs to increase from thousands to millions of developers, and this collaboration could serve as a catalyst.
Application-specific chains are critical infrastructure for that step, but they present huge challenges without interoperability. Axelar and Polygon Supernets are enabling developers to build on chains that make it easy to accomplish their goals, with zero barriers to liquidity or user onboarding.
In addition, it would serve as an interoperable internet of dedicated Ethereum Virtual Machine (EVM) blockchains backed by the Polygon Edge. According to Gorbunov, enough grounds have been provided for Ethereum ecosystem developers to access functions and users on the several connected chains integrated by Axelar. He further explained that the developers can freely build DApps that can attract hundreds of millions of users.
The Polygon and Axelar partnership could benefit new users
Gorbunov also disclosed that the beneficiaries of this partnership are new users “who can onboard into those DApps bringing their existing tokens, wallets, and Web3 identities – without having to bridge or swap via separate interfaces.”
In addition, it presents the opportunities to share the visions of a cross-chain future with a community of builders on Polygon Supernets and also provides enough support for the applications and blockchains that would be built there. Another way polygon users can benefit from this partnership is that “they will be able to connect securely to functions, assets, and user networks, anywhere on Web3.”
Axelar has also announced a partnership with the infrastructure company behind the Sui blockchain, Mysten Labs to provide cross-chain communication for developers via General Message Passing. This is to ensure that the prospect of “super DApp” is advanced. It was also meant to enable DApps created in Move to call a function on any external challenge.
Gorbunov explained:
The permissionless, open nature of Web3 gives it an advantage that hasn’t yet been tapped. In Web2, super apps are based on monopolies or oligopolies. In Web3, developers can compose at will – but until now, this composability has been constrained within the limits of existing ecosystems. General Message Passing, combined with the power of the Move programming language and the Sui blockchain, gives developers a set of tools unequaled even in Web2.
MATIC has failed to respond positively to this partnership as the asset is still down by 3.43 percent in the last 24 hours and trading at $0.91.
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