On April 1, Decentraland announced in a blog post that users will be able to move MANA tokens to Polygon and back to its chain, thereby enabling a token bridge.
The announcement was followed by the integration of two decentralized finance powerhouses via the Polygon sidechain. As per Coingecko, MANA is the 80th ranked token by market cap and has risen 3750% over the year to $1.01.
The project aims to enable all the Decentraland dApps including the Builder and Marketplace contracts by processing transactions on Polygon. The step is one of the significant migrations. Finally, the integration will allow the users to purchase MANA tokens directly with credit and debit cards through Polygon integration with Transak.
For the players! We are partnering with the first fully decentralized world! @decentraland does not need an intro as the most prominent project, at the intersection of NFT/Gaming. Players can now buy $MANA with their cards or bank transfer directly on https://t.co/Se7H7XgiAp 🚀🎮 pic.twitter.com/LOOTuk5ajm — Transak (@transak_finance) April 1, 2021
There will not be any transaction fees which means the transactions will be free. Decentraland will leverage Biconomy.io meta-transactions. This will enable users to “claim, buy, sell, and trade wearables for their avatars entirely on Polygon, with no transaction fees.” Even Polygon charges a transaction fee priced at fractions of a cent.
You can now move MANA between Ethereum and @0xPolygon's Matic Network! This is the first step toward a full layer-2 solution for Decentraland. Log into https://t.co/2P05jPkP6m to get started, and catch up on the details on the blog: https://t.co/aytCXBZdh9 — Decentraland (@decentraland) April 1, 2021
The announcement further comes as a solution to mitigate the problem of paying higher gas fees by the users as networks become congested due to higher transactions. The announcement says:
The solution is a second blockchain built to handle the many “microtransactions” generated by normal, everyday dApp use. Polygon has built just such a scalability solution using a secondary blockchain secured by a network of Proof-of-Stake validators
Recently, Aave and Zapper both announced Polygon implementations, allowing the projects to reach the top-100 market cap twice in a week.
Source: Cointelegraph | Image: usethebitcoin.com
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