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IoTeX integrates Polygon Labs for cross-chain liquidity and connectivity

Wednesday 18 September 2024 13:17 CET | News

IoTeX and Polygon Labs have announced the integration of IoTeX 2.0 with Polygon’s AggLayer, enhancing cross-chain connectivity and unified liquidity for DePIN projects.

 

IoTeX, a decentralised physical infrastructure network (DePIN) connecting over 18 million devices, and Polygon Labs, known for developing a network of aggregated blockchains through the AggLayer, have announced that IoTeX 2.0 will integrate with the AggLayer. The AggLayer is a decentralised service designed to safely connect chains, enabling a unified bridge and unified liquidity across different blockchains.

IoTeX partners with Polygon Labs

Enhancing cross-chain capabilities

The integration builds on a relationship dating back to 2021, when IoTeX and Polygon Labs worked on real-world NFT and cross-chain bridge initiatives. With this new development, IoTeX will now tap into the AggLayer’s infrastructure, which allows for cross-chain communication and liquidity sharing, by allowing projects built on IoTeX’s blockchain to programmatically distribute rewards and allow users to settle on their chain of choice. IoTeX’s DePIN Infrastructure Modules (DIM) Layer empowers DePIN projects to manage identities, scale efficiently, and access the USD 19.7 billion worth of projects already building on DePIN, offering advanced tools for success in a multi-chain ecosystem.

Use cases

Several projects on Polygon have previously utilised components of IoTeX’s infrastructure, demonstrating the adaptability of its technology and the relevance of this integration. GEODNET, for instance, participated in the launch of the DePIN Liquidity Hub with IoTeX—a compelling use case that becomes even more relevant with the AggLayer integration. Similarly, DIMO leveraged W3bstream for a ZK-based proof of concept focused on data privacy and verifiable off-chain computation, offering another strong example of how the AggLayer integration could further enhance these innovative applications.

Officials from Polygon said integrating IoTeX with the AggLayer marks a pivotal moment for DePIN. This integration not only enhances cross-chain capabilities and unlocks liquidity and scaling opportunities through the AggLayer for DePIN projects. By providing a purpose-built platform that seamlessly connects with different ecosystems, these projects can thrive in a multi-chain world. This is a game-changer that will drive significant growth and innovation across the DePIN landscape.

Also highlighting the benefits of this partnership, the theam at IoTeX said that integrating with the AggLayer sets a major milestone in DePIN composability. Their infrastructure will enable any DePIN developer to connect seamlessly with the AggLayer, allowing users to interact with DePIN applications across multiple blockchains. With this collaboration, they continue to solidify their leadership in DePIN, providing access to interchain communication and technical innovation.


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Keywords: blockchain, data, partnership, digital assets
Categories: DeFi & Crypto & Web3
Companies: IoTeX, Polygon Labs
Countries: World
This article is part of category

DeFi & Crypto & Web3

IoTeX

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Polygon Labs

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